Illinois Sportsbooks See Record 82% Jump in August Profits YoY

Sports betting operators in Illinois had a strong August, with both online and retail sportsbooks combining for $107.8 million in revenue on a 10.5% hold — nearly four points higher than last year. It was the eighth time in the past 12 months that monthly revenue passed the $100 million mark, according to the Illinois Gaming Board.

Good to Know

• Illinois bettors wagered $1.03 billion in August, up 19% from last year.
• Online sportsbooks generated $105.9 million of total revenue.
• State and local taxes reached $33.4 million, plus $1.14 million for Cook County.

The return of college football helped fuel the surge, marking the first month since May that Illinois betting handle topped $1 billion. Most of the action came from mobile betting, which continues to dominate the state’s gaming landscape.

DraftKings led the market with $364.7 million in wagers and $38.1 million in revenue, gaining more than $6 million compared to July. FanDuel followed with $300.1 million in handle and $34.3 million in profit, with an 11.4% win rate. Both operators turned in double-digit holds for the month.

Fanatics Sportsbook took third place, handling $89.2 million in bets and earning $10.8 million — a 56% month-over-month increase. BetRivers posted $6.2 million in revenue on $54.4 million in wagers, while BetMGM reported $4.8 million from $51.4 million in bets.

Further down the leaderboard, bet365 brought in $3.8 million, Caesars earned $3.1 million, ESPN BET posted $2.7 million, and Hard Rock Bet generated $1.7 million. Collectively, the online segment accounted for nearly all of August’s revenue.

More than $60 million of total profits came from parlays, which produced an impressive 21% win rate for operators.

State Revenue Boost from New Tax

Illinois collected $33.4 million in state taxes during August, while Cook County received $1.14 million. The new per-wager tax introduced in July contributed an additional $5.3 million, bringing the total from the new surcharges to more than $10.5 million in just two months. FanDuel and DraftKings combined for nearly three-quarters of that payout.

Seven other online operators each paid six-figure amounts in per-wager taxes. All ten active mobile sportsbooks have adjusted their pricing and promotional strategies to offset the new costs.

City officials in Chicago are now considering introducing a similar tax to help reduce the city’s $1.1 billion budget deficit, mirroring the state’s success in generating extra income from betting.