Illinois sports betting handle up in August, but hold declines sharply against July
For August, total ‘completed events’ adjusted gross revenue hit $59.2m (£45.5m/€54.6m) in Illinois. This is 26.2% more than last year but 17.0% lower than July. State-wide hold was 6.74%, down from 9.22% in July.
Figures from the Illinois Gaming Board (IGB) show some $57.8m of all revenue came from online betting. The remaining $1.3m was attributed to wagering through retail sportsbooks across the state.
As for spending, total handle for the month amounted to $877.8m. This surpasses last year by 29.8% and also beats July this year by 13.5%.
August is widely regarded as one of the quieter of the summer months due to fewer major league events, although this year benefited from the Olympic Games in Paris, France. College football also starts in late August, as do NFL pre-season games. Players bet $852.9m online during August and $24.9m at retail sportsbooks.
DraftKings edges ahead of FanDuel in Illinois
Looking at individual operators, DraftKings moved ahead of long-time rival FanDuel to take the top spot in August. DraftKings, partnered with Casino Queen, posted $22.7m in adjusted revenue off a $334.7m handle, leaving a 6.78% hold.
FanDuel, which led in July, placed a narrow second with $21.7m in revenue from $267.3m handle. This meant a hold of 7.86% for FanDuel, which works with Fairmount Park in Illinois.
BetRivers, partnered with Midwest Gaming & Entertainment, round off the top three. During August, the partnership delivered $4.7m in revenue from $68.5m handle for a 6.86% hold.
August was the second month of new tax rules in Illinois. An existing 15% flat adjusted gross revenue rate has been replaced by a sliding scale, ranging from 20% to 40%, depending on handle.
In total, the state collected $13.6m in tax revenue from sports betting activity during August.