Illinois June Handle Shrinks to Lowest in 11 Months
Illinois bettors wagered a total amount of $848 million in June 2024, according to recently released data from the Illinois Gaming Board.
June’s wagering total ended the state’s nine-month streak of sports betting handles exceeding $1 billion. (Source: ArtTower, Pixabay)
LISTEN TO THIS ARTICLE:While the handle represents a 27% year-on-year increase compared to the same month last year, it fell short of May 2024’s betting volume by 17%. It was also the lowest monthly total for the state since August 2023.
Additionally, June’s wagering total ended the state’s nine-month streak of sports betting handles exceeding $1 billion. Nevertheless, the total made Illinois the second-largest sports betting in the US for the month, trailing only New York in terms of handle.
As usual, online sportsbooks dominated the market in June, accounting for 97% ($823.6 million) of the total handle. Retail sportsbooks contributed 3% ($24.4 million).
Adjusted gross revenue for online and retail sportsbooks collectively reached $96.4 million. June’s AGR marks a 73% increase year-on-year but dropped 6.2% compared to May. It also increased Illinois’s all time sports betting revenue to over $3 billion, becoming the third US state to reach that milestone after New York and New Jersey.
Baseball Brings in Highest Handle
Baseball was the most popular sport amongst bettors in June, with handle amounting to $241.5 million, an increase of 9% month-over-month. Although the NBA Finals only provided a five-game betting window in June, basketball handle accounted for $98.8 million. A 12.4% hold meant operators generated $12.3 million in revenue from this sport.
While the IGB does not provide a detailed breakdown of men’s and women’s basketball, the popularity of the WNBA probably played a significant role in the increased June wagering activity.
Tennis served up $80.6 million in total wagers, while the Euro and Copa America soccer tournaments generated over $53 million in handle and nearly $5 million in revenue.
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DraftKings Lead the Pack
DraftKings led the Illinois sports betting market in June, with an AGR of $38.6 million from a handle of $322.8 million. This marks the fifth consecutive month that the operator will dominate betting activity and revenue in the state.
FanDuel secured the second spot with a revenue of $36.4 million from over $280 million in handle. Betrivers rounded off the top three with a handle of $60 million and a revenue of $4.8 million. Other sportsbooks in the state include BetMGM, Fanatics, Caesars, ESPN Bet and Circa Sportsbook.
End of 15% Tax Rate
In June, Illinois received $14.2 million in betting tax revenue based on a 15% tax rate. However, this marked the final month of the 15% tax rate as a new tax structure took effect on July 1.
Operators will now have to pay 20% or up to 40% on their adjusted sports betting revenue in the state. This positions Illinois as the state with the second-highest tax rates in the US, behind New York’s 51%.
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