Illinois reports sports betting handle of $1.02bn for May

Illinois reports sports betting handle of $1.02bn for May

Illinois’ betting handle exceeded $1bn for the ninth consecutive month.

US.- Illinois sportsbooks took $1.02bn in bets in May, up 21.9 per cent year-on-year, but down 8.9 per cent from the $1.10bn bet in Illinois in April. It was the ninth time the handle has exceeded $1bn.

Some $985.7m was spent online through the state’s eight approved internet operators, while $31m was wagered at licensed retail locations.

Professional sports accounted for $1.01bn of all bets, with $980.7m wagered online and $30.9m via retail sportsbooks. Players staked a further $3.7m on college sports: $3.6m online and $62,935 at retail locations. A further $1.4m was wagered on motor racing.

According to the Illinois Gaming Board, adjusted gross revenue was $100.9m, up 13.4 per cent year-on-year and 9.7 per cent higher than April. Online betting accounted for $98.1m of revenue, with just $2.8m coming from retail.

FanDuel, partnered with Fairmont Park, once again led the market posting $43m in AGR for May from $340.1m in bets. DraftKings processed $386.4m in bets and took $30.9m in revenue. The operators paid $15.1m under the state’s 15 per cent tax on AGR. From July 1, Illinois’ new progressive tax rate comes into force. Market leaders DraftKings and FanDuel will pay 40 per cent on revenue over $200m.

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