Illinois betting handle drops in June
The Illinois sports betting numbers provided some mixed results in the month of June, but there was a significant drop in the total betting handle.
June was the first month in 2021 that Illinois has not seen at least $500 million wagered on sporting events.
The total sports betting handle for June was just $476.5 million, which was a decrease of more than six percent from May. June was a tough month for a number of states throughout the US as there was a limited number of sporting events to bet on.
The drop in the total betting handle moved Illinois from the second-largest sports betting market down to third place for the month. New Jersey continues to be the runaway leader in the industry, but Nevada was able to slip past Illinois again in June.
A more important number to the state of Illinois is the total sports betting revenue, and June nearly set a record in that category. The total sports betting revenue was $47.5 million, which was an increase of over 31 percent from May.
The state of Illinois was able to collect over $7 million in tax revenue from sports betting in June, and that was also a significant increase over May. As long as Illinois continues to bring in a high amount of tax revenue, then there isn’t a big concern with industry leaders.
There is no doubt that in-person registration is hurting the industry as the total online handle dropped by 6.4% in June. That requirement will remain in place until January 1, 2022, unless Governor J.B. Pritzker issues another Executive Order.
DraftKings, FanDuel Lapping Competition
Even though June was a tough month for the entire Illinois sports betting market, the top two operators continued to flourish. DraftKings and FanDuel combined for nearly 70 percent of the market share in Illinois, and that number continues to climb.
It was DraftKings that was the leader in June when it came to the total handle, as that figure was $157.1 million. The company also brought in $13.9 million in revenue, but that was only good enough for second place.
FanDuel had a revenue of more than $20 million in Illinois, and it was a big reason why the overall numbers in the state were so high. The total handle at FanDuel was over $155 million, keeping things tight between it and its top rival.
BetRivers was the next big sportsbook in the state with a handle of $71.2 million and a total revenue of $7.5 million. PointsBet was next, and there was a pretty significant gap between the top four operators and the bottom two.
Illinois is expected to have some new sports betting options soon, but a launch date has not yet been set for any of the new companies. William Hill has been rebranded to Caesars Sportsbook, and that could provide a boost to the numbers in August and beyond.
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