Web Analytics Made Easy - Statcounter

Industry analyst explains decline in Illinois sports betting revenues | Illinois


(The Center Square) – Illinois sports betting revenue took a hit in June, falling more than 40% from the month before. 

According to the Illinois Gaming Board, operators took in over $665 million in handle for the 30 days in June. 

Analyst David Briggs from PlayIllinois.com said although the numbers were down, they were actually higher than the same time last year. 

“Illinois was way up over June from 2022, up 41% in revenue, up 15% in handle, up 45% in taxes,” Briggs said.  

Sports betting produced nearly $9 million in tax revenue in June.

Briggs said the drop in sports betting handle can be attributed to the fact that there are more sporting events in the month of May.

“You still had the NBA playoffs, the NHL playoffs, and some other sports still kicking that would have drawn some of the betting interest but once you get into June, July and August, you’re looking at baseball, a little bit of golf and not a lot else,” Briggs said. 

Illinois finished behind only New York in the amount of money wagered by sports bettors in June. 

The top three online sports betting operators were DraftKings, FanDuel and BetRivers. Two more outlets, Circa Sportsbook and Hard Rock Bet are expected to launch in September, just in time for the NFL season. 

Since its inception in March 2020, Illinois sports bettors have wagered nearly $24.1 billion. As a result, the state of Illinois has taken in $312.2 million in tax revenue. 

Source link

Picture of Caleb Alexander

Caleb Alexander

Sign up for our Newsletter

Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit