The Prairie State’s sports betting operators produced their biggest win rate ever, leading to 33% year-over-year revenue growth in June.
Key Takeaways
- Illinois operators followed a similar and dominating national trend.
- The state filled its coffers with 200% more tax revenue than in the previous June.
- FanDuel and DraftKings produced big holds to combine for more than $80 million in profits.
The Illinois Gaming Board reported that online and retail sportsbooks generated $113.9 million in revenue from a $950.2-million handle, up 11.5% from June 2024, to set a new mark with a 12% hold. The Land of Lincoln followed a national trend that has seen sportsbooks dominate bettors at an unprecedented pace.
June’s win rate was up from the previous year’s 10% and surpassed the previous all-time high of 11%, set in February. It’s the third hold of the year in double digits.
Operators paid out $42.8 million in June taxes, an astounding 200% increase from the previous June, which was the last month before Illinois’ tiered tax rate went into effect.
Basketball wagering soars
Sportsbooks feasted on bettors during a month highlighted by the NBA Finals and Major League Baseball.
Basketball generated more than $130 million in wagers during June, a 32% year-over-year increase. Baseball recorded the highest volume with a $244.8 million handle, which was just $3 million ahead of the previous June. Bettors wagered more than $277 million on parlays in June.
Hockey wagering was down 16% year-over-year, while soccer betting saw a $5 million decrease without 2024’s Euro and Copa America tournaments.
Top two operators go big
| Online Operator | June Handle | Revenue |
|---|---|---|
| DraftKings | $342.9 million | $40 million |
| FanDuel | $286.2 million | $41.4 million |
| Fanatics Sportsbook | $74.9 million | $8.3 million |
| Caesars | $61 million | $5.6 million |
| BetMGM | $53.6 million | $5.4 million |
| BetRivers | $49.8 million | $5.5 million |
| bet365 | $39.3 million | $3.7 million |
DraftKings led all Illinois sports betting operators with an online handle of $342.9 million. The sportsbook recorded gross revenue of $40 million, a nearly $2 million higher profit from $70 million less wagered than the previous month.
FanDuel produced a hold of more than 12% for the second consecutive month, reaching 14.5% in June to generate a state-best $41.4 million in June from a $286.2-million handle.
Fanatics Sportsbook generated $8.3 million in revenue, a $2.3-million increase from May, despite June’s handle dropping in half. Caesars went over $60 million in June, but its win rate failed to reach double digits.
BetMGM was the last operator to surpass $50 million in wagers and also enjoyed a double-digit win rate to produce $5.4 million in revenue. BetRivers hauled in slightly more profit from a $49.8-million handle, while bet365 made $3.7 million off $39.3 million in wagers.
Upping the ante
A new Illinois sports betting law went into effect on July 1, meaning online operators will now have to pay a 25-cent per wager tax to the state on the first 20 million bets. The tax increases to 50 cents after 20 million.
In response, eight online sportsbooks have announced ways to offset their new tax costs. FanDuel and DraftKings are both implementing a 50-cent surcharge on each wager beginning this fall. Fanatics will soon begin charging a 25-cent transaction fee.
BetMGM, Circa Sports, ESPN BET, BetRivers, and Hard Rock Bet said they will have new bet minimums in place.
