The Land of Lincoln’s nine-month streak of $1 billion sports betting handles has ended.
The $848 million wagered in June was the lowest since August 2023. However, Illinois finished with the handle nationally behind only New York during the slower summer month.
The Illinois Gaming Board reported that online and retail sportsbooks combined produced $94.6 million in monthly revenue, up 73% from June 2023 on a handle that increased 23.7% year-over-year.
With less volume from NBA and NHL playoffs, the amount wagered fell 17% while revenue slipped 6.2% month-over-month, but the June hold rose nearly 1.3 points to 11.2%.
Online sports betting accounted for $823.6 million of the Land of Lincoln’s total handle while retail sportsbooks took in $24.4 million in June.
All-time sports betting revenue surpassed $3 billion, landing Illinois with New York and New Jersey as the only U.S. states to reach that milestone.
Baseball’s volume produces increased wagering
Despite the NBA Finals providing just five games worth of betting action, the basketball handle was $98.8 million while a 12.4% hold led to $12.3 million in revenue, nearly the same as in May.
While the IGB doesn’t break out men’s and women’s results from the sport’s total, it’s likely the WNBA, with its boost of popularity, contributed to the June action.
Baseball, the sport offering the most volume, generated wagers of $241.5 million, up 9% month-over-month, and produced a 6.6% hold. During the Stanley Cup Final, hockey produced $19.4 million in handle and a hold of over 13% in Illinois.
Tennis brought in $80.6 million in wagers while the Euro and Copa America soccer tournaments helped the sport total more than $53 million and produce nearly $5 million in revenue.
The hold on parlays fell from 21% in May to 17% in June.
DraftKings holds down top spot
| Operator | June Handle | Revenue |
|---|---|---|
| DraftKings | $322.8 million | $38.6 million |
| FanDuel | $280.3 million | $36.4 million |
| BetRivers | $53.9 million | $4.8 million |
| BetMGM | $42.5 million | $2.7 million |
| Fanatics | $41.5 million | $4.4 million |
| Caesars | $38.1 million | $1.8 million |
| ESPN BET | $36.4 million | $3.5 million |
DraftKings reported a June-best $38.6 million in adjusted revenue on a $322.8 million handle, making this the fifth consecutive month the online operator has led Illinois sports betting in the amount wagered.
FanDuel came in second with more than $280 million wagered and revenue of $36.4 million on an impressive 13% hold. The online sportsbook reported a 22.7% win rate on parlays.
BetRivers finished third with a handle of just under $60 million. Revenue fell from $6.5 million in May to $4.8 million in June. BetMGM wasn’t able to capitalize on the fourth-best handle of $42.5 million as the win rate fell below 7%.
Fanatics had a solid month with revenue of $4.4 million on a handle of $41.5 million.
June, however, wasn’t kind to everyone. Caesars recorded a hold under 5%, ESPN BET’s handle fell 20% month-over-month, and Circa Sportsbook took a $13,000 loss.
Rates rising
June was the final month of the 15% tax rate in Illinois. The new progressive structure that started on July 1 begins at 20% and increases to as much as 40% based on revenue thresholds.
The Land of Lincoln claimed $14.2 million from operators in June, down nearly $1 million from May. Cook County hauled in $1.1 million from sports betting through its 2% levy on wagers placed in the Chicago area.
