Illinois has achieved a significant milestone in the realm of sports betting, joining the ranks of New Jersey, Nevada, and Pennsylvania as the fourth state to generate over $1 billion in sports betting operator revenue. This accomplishment was officially announced by Marcus Fruchter, the Illinois Gaming Board administrator, while presenting the latest figures for July.
Illinois Sports Betting in July:
During the month of July, Illinois sportsbooks recorded a total of $516.4 million in bets, representing a 17.8% decrease compared to the previous month’s figure of $628.5 million. However, it is essential to note that this still reflects a substantial 40% increase compared to the same period in 2021. Notably, the majority of wagers, amounting to $496.1 million, were placed through mobile platforms, underscoring the significant influence of online wagering in driving revenue growth.
Revenue and Tax Contributions:
The Illinois Gaming Board reported a total revenue of $46.1 million for July, marking it as the ninth-highest revenue figure since the launch of sports betting in the state in March 2020. As a result of this thriving industry, the state collected close to $6.9 million in taxes during July, contributing to an impressive year-to-date tax revenue of approximately $58.1 million. This remarkable achievement reflects a significant increase of $14 million when compared to the tax revenue collected in the first seven months of 2021.
Dominant Players in the Market:
Two major players, FanDuel and DraftKings, stood out in the Illinois sports betting landscape, jointly accounting for almost two-thirds of the $496.1 million in online wagers. FanDuel recorded a staggering handle of $168.8 million, closely followed by DraftKings with $152.2 million. Meanwhile, BetRivers, another prominent operator, amassed a significant handle of $53 million. The highly competitive market also witnessed substantial contributions from PointsBet, with a sports betting handle of $39.9 million, and BetMGM, rounding out the top five with a commendable $31 million.
Popular Sports Wagers:
Baseball emerged as the leading sport in terms of wagers, amassing an impressive $202 million in straight bets. Tennis closely followed as the next most popular betting option, with a total of $78.7 million in wagers. Soccer also garnered substantial interest, with players placing bets amounting to $30.4 million.
Illinois Casino Revenue in August:
In addition to the success of sports betting, the Illinois Gaming Board has also released the casino revenue report for August. The eleven casinos in the state generated a total revenue of $117.3 million. While this figure represents a slight 4.5% decrease from July’s revenue of $122.9 million, it still signifies an encouraging month-on-month increase of 10.4%.
Illinois’ achievement of surpassing $1 billion in sports betting operator revenue solidifies its position as one of the leading states in the US sports betting market. With the dominance of online wagering and the strong presence of top operators like FanDuel and DraftKings, the state’s sports betting industry is poised for continued growth. Furthermore, the steady performance of the casino sector adds to the overall economic impact of the gambling industry in Illinois. As the market continues to evolve and expand, it is evident that Illinois remains a significant player in shaping the future of sports betting in the United States.