Illinois sportsbooks experienced a decline in betting handle in June, with total wagers amounting to $628.5 million. This figure represents an 18% drop compared to the previous month’s handle of $764 million and a 25% decrease from April’s $839 million. However, despite the monthly decline, Illinois’ sports betting market demonstrated robust year-on-year growth, with the June 2022 handle up 32% from the same period in 2021. Mobile wagering dominated the market, accounting for $604.6 million of the handle, while retail sportsbooks contributed $23.7 million.
Revenue and Tax Contributions:
Illinois sportsbooks generated $40.9 million in revenue in June, marking a decline of $26.6 million from May’s figures. The state collected close to $6.1 million in taxes during the month, contributing to a total tax revenue of approximately $51 million for the year 2022. While revenue experienced a decline, it is important to note that the sports betting market remains a significant revenue source for the state.
Leading Operators and Popular Sports:
Among the sports betting operators, FanDuel led the way with a handle of $201.6 million, followed closely by DraftKings with $183 million and BetRivers with $60.8 million. FanDuel and DraftKings combined accounted for 63.9% of the total handle, highlighting their dominance in the Illinois market. Baseball emerged as the most popular sport for betting, with a handle of $222.4 million in straight wagers. Tennis followed as the next preferred betting option, with $86.8 million in wagers. Basketball attracted a significant amount of wagering activity, with $68.6 million in bets.
Year-to-Date Growth and Increasing Popularity:
The first six months of 2022 witnessed significant growth in sports betting activity in Illinois. Sports bettors in the state wagered over $4.75 billion during this period, representing a remarkable 47% increase compared to the first six months of 2021 when the total handle was $3.2 billion. This surge in betting activity reflects the growing popularity and acceptance of sports betting among Illinois residents.
Casino Revenue and Land-Based Performance:
In addition to sports betting, Illinois’ casino industry also experienced positive growth in June. Casino revenue reached $110.7 million, marking a 5% increase compared to the same period in the previous year. Land-based revenue demonstrated even stronger growth, rising by 18% year-over-year. These figures indicate a positive trend for the overall gambling industry in Illinois.
Illinois’ sports betting market witnessed a decline in betting handle during June, but the industry continues to demonstrate strong year-on-year growth. Mobile wagering remains the primary choice for sports bettors, accounting for the majority of the handle. While revenue experienced a decline, the sports betting market continues to contribute significant tax revenue to the state. The popularity of sports betting in Illinois is evident through the increasing handle and the diversified betting options available, with baseball leading the way. As the year progresses, Illinois’ sports betting market is poised for further growth and development, contributing to the state’s economy and providing an enjoyable betting experience for enthusiasts.