Illinois Sports Betting Handle Drops In June, Now No. 3 In The US
Illinois sports betting numbers are out for the month of June. And while they do reflect the lazy days of summer, the figures are enough to keep the PrairieState among the leaders in the US industry. Altogether, the state’s nine licensees took in over $476.51 million in handle and held more than $48.18 million of that money.
FanDuel, together with its retail partner FanDuel Sportsbook and Horse Racing, again blew away the competition in terms of win, holding over $20.29 million last month. FanDuel was also nipping on the heels of the leader in handle, DraftKings Sportsbook, falling just about $1.81 million short of DraftKings’ $157.09 million in bets.
For Illinoisans, the numbers are another proof that the gambling industry in the state is among the most lucrative in the nation.
Illinois June control, casino revenue
Here & rsquo is how each sportsbook in Illinois fared in June:
|Licensee||Website company||Complete Control||Manage Internet||Shop Manage||Income overall||Express levy||Local Income Taxes|
|King of the Blackjack||DraftKings||$160,232,154||$157,097,096||$3,135,058||$13,959,204||$2,043,430||$142,788|
|Des Plaines River||BetRivers||$83,170,641||$71,205,903||$11,964,738||$7,527,408||$1,097,844||$96,861|
|Queen Victoria||Theodore Hill||$6,644,281||$5,865,460||$778,821||$504,006||$19,306||$2,450|
|Joliet from Hollywood||N/A||$1,175,282||$0||$1,175,282||$95,949||$12,415||$0|
June faint has an impact, but context is crucial.
June struck out but did so swinging in a month-over-month assessment.
In May, sportsbook took in over $507.3 million. That means handle was down about 6.1%. However, revenue was up almost $12 million, or around 24%. That last figure likely has operators DraftKings and FanDuel not hating things.
Taxes for June & rsquo, at$ 557, 166, were increased by more than$ 137, 000.
It & rsquo, which is noteworthy because, according to the sports calendar in North America, June is typically one of the worst months for handling. Therefore, for Illinois casinos, holding around 9.89 % for the month is basically a win.
Perhaps the most important point of context here is Illinois’ numbers in comparison to other active jurisdictions, though.
Illinois finished third in control for June in the US. Over$ 766.88 million in bets were placed at New Jersey sportsbooks, and$ 545.51 million was wagered at Nevada sportingbooks.
In terms of revenue, however, Illinois was second only to NJ’s $71.26 million. FanDuel has again led the charge there, holding almost more than the DraftKings and BetRiversSportsbook combined. What gives there? Well, we’re starting to see a pattern below.
Probable explanations for FanDuel’s raking it in
This is the second-consecutive month that FanDuel’s revenue in IL has topped $20 million. While May’s hold percentage for the book was 12.9%, that same measurement climbed a tenth-of-a-point in June. So, are bettors putting down their money at DraftKings just that much better than those doing the same thing at FanDuel in IL?
Not exactly. For one thing, despite the onerous in-person registration requirement in place for at least the rest of this year in Illinois, we don’t know how many bettors losing bets at FanDuel are simultaneously placing wagers at other books.
Additionally, it seems FanDuel customers are still in love with parlay wagers, especially same-game parlays. As veteran bettors know, those bets are typically wins for sportsbooks. As long as FanDuel can keep bettors adding legs to their bets, it seems in control in terms of revenue.
FanDuel may start pushing those wagers yet more quickly with college basketball and the NFL season almost around. Although the payouts can be astounding, knowledgeable bettors in the Land of Lincoln are aware that they have a higher chance of winning than FanDuel & rsquo’s June victory.