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With no NFL or college sports to gamble on during the summer, Illinois’ sports betting total fell to a meager $774 million in July. The seasonal slowdown was indicated by consecutive months with handles under $1 billion, according to the most recent report from the Illinois Gaming Board. The handle for July was significantly lower than the one for June, indicating the usual summer dip.
Some sports, such as the WNBA, had significant development in spite of the slowdown.
While major sports took a breather, the WNBA gained significant traction with bettors in Illinois. Basketball wagers in the state reached $84.6 million, a 75% increase from the $48.9 million in July 2022. This surge demonstrates the growing interest in WNBA games, as more fans engaged in placing bets on the league.
Overall, Illinois saw $71.3 million in total sports betting revenue, with a hold of 9.2%. While this marked a 25% decline from the previous month, it still represented an 18% increase compared to July 2023.
Among operators, DraftKings maintained the largest share of the handle, with $283.5 million wagered. However, FanDuel edged ahead in revenue, boasting $28.6 million due to a higher hold of 11%, compared to DraftKings’ 8.4%. Meanwhile, BetRivers and Fanatics (formerly PointsBet) vied for third place, with Fanatics bringing in $5.2 million in revenue from $47.7 million in wagers.
The newly enacted progressive tax structure in Illinois maintained tax collection at $15.1 million in July, despite reduced revenue. This came after tax rates were raised from a flat 15% to a progressive scale depending on revenue thresholds, with rates starting at 20% and going up to 40%.
It is anticipated that August will stay below $1 billion, but Illinois bettors will probably drive September’s handle back into the billions because of the NFL’s return and the build-up to the MLB postseason.