Illinois Reaches $1 Billion Sports Wagering Revenue Milestone

Illinois is the fourth state to surpass $1 billion in sports wagering operator revenue. Sports wags accepted totaled $516.4 million in July, while the completed events handle was $518.6 million. The traditional handle gap between the two states for July was only $15 million, but operators posted an 8.9% hold.

FanDuel and DraftKings generated $168.8 million in July. The mobile books generated nearly $496 million worth of online wagers. BetMGM entered Illinois in March and is now the state's only mobile book. Barstool Sportsbook and Caesars Sportsbooks earned $26.5 million and $24.9 million respectively. BetRivers took in $53 million, but it's the lowest since accepting $48. 5 million wagering in 2020.

Parlay revenue comprised nearly half of the total amount as operators claimed $21.3 million from $120.2 million in completed events handle for a 17.7% win rate. FanDuel was an easy winner in revenue with $10. 7 million, while DraftKings collected $5. 2 million and Caesars collected nearly $835,000. Baseball was the largest revenue generator by sport with almost $11.6 million wagered. Tennis was a surprising second with about $78 million. Soccer rounded out the top three sports for handle at $30.4 million while basketball and basketball were third and fourth.

$4.5 billion was wagered in July. It's 61.8% better than in 2021. July was also the ninth-highest overall win rate in 50 months of wagering in the post-PASPA era. Promotional credits totaled $35.2 million for July, which resulted in an 8. 2% hold for adjusted revenue.