• About Us / Contact
  • Responsible Gambling
This site contains commercial content
SportsHandle
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Kentucky
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Vermont
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News
No Result
View All Result
SportsHandle
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Kentucky
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Vermont
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News
No Result
View All Result
SportsHandle
No Result
View All Result

Illinois Narrowly Clears $400M For August Sports Betting Handle

Revenue drops sharply as bettors finally post better results on parlays

Chris Altruda by Chris Altruda
October 9, 2021
in Analysis, Regulation
Illinois August 2021 revenue report

Photo via Shutterstock

Share on FacebookShare on Twitter

The Illinois Gaming Board closed out August’s national sports betting revenue reports Friday, showing close to $400.4 million in handle.

The total, which represented an 8.5% improvement from July’s figure of $369.1 million, was good for third among the 19 states and District of Columbia that offered legalized sports wagering in August. Illinois, which releases monthly revenue figures later than other states, finished approximately $27.8 million behind Nevada for second and more than $51.8 million better than Pennsylvania for the final podium spot.

Illinois also cleared the $4 billion mark for 2021 handle, trailing only New Jersey ($6.1 billion) and Nevada ($4.2 billion) nationally.

Despite the increase in handle, adjusted gaming revenue fell to its lowest monthly total of the year at more than $26.8 million. Operators had a year-low win rate of 6.71%, which was 3.48 percentage points lower than the all-time high of 10.19% established in July. Operators in the Land of Lincoln have made nearly $319.5 million this year, trailing only New Jersey in adjusted revenue.

Despite the monthly falloff in revenue, the state received more than $4 million in taxes, lifting the total for the first eight months of the year to more than $47.9 million. Cook County, which receives 2% of adjusted gaming revenue on all bets retail and online placed in the county, collected $294,458 in tax revenue for August and over $3.7 million for the year.

Through the first eight months of 2021, the national cumulative handle was less than $5 million shy of $30 billion. Each month, the national handle is further distancing itself from the pandemic-affected total of $21.5 billion generated for all of 2020.

Illinois parlay bettors acquit themselves well

A customer in Illinois placed this $5 MLB division winner parlay on April 23rd…

The ticket cashed this week for $56.6k πŸ’°

LEGENDARY hit πŸ‘πŸ‘πŸ‘ pic.twitter.com/oDrBI25SFb

— FanDuel Sportsbook (@FDSportsbook) October 5, 2021

Sign Up For The Sports Handle Newsletter!
I also want to receive information and offers about online sportsbooks (eg. odds boost, welcome offers)

Parlay wagering is a wildly popular option among Illinois sports bettors, who have placed close to $860 million in such wagers this year and nearly $1.2 billion since the state began taking bets in March 2020. But its popularity does not equate to success: Operators have reaped close to $200 million in profits from those plays while posting an eye-watering 16.76% win rate all-time.

August, however, proved different. A record parlay handle — though expected to be short-lived, considering how the NFL moves this market , combined with the expansion of single game parlay offerings from multiple operators — of $126.6 million was generated in August. While operators still came away with a hefty chunk of change at more than $12.1 million, the 9.6% hold knocked the yearly win rate down to 17.23% and marked the first time it was below 10% since September 2020 at 7.75%.

Much of the drop can be attributed to DraftKings, which accepted nearly $76 million in parlay wagers but posted only a 5.51% win rate and made just shy of $4.2 million. The other four Illinois mobile operators that offer parlay betting — FanDuel, PointsBet, Barstool Sportsbook and BetRivers — all had holds ranging from 12.32% (PointsBet) to 20.88% (BetRivers).

Parlays ranked second in handle among all categories, with baseball topping the chart at more than $138.6 million. Tennis ($43.2 million), soccer ($30.9 million) and the catch-all other category ($15.7 million) rounded out the top five for handle. Overall, parlay revenue dropped 28.2% from July and 47.2% from June’s all-time high of nearly $23 million.

On the revenue side, baseball also finished second to parlays as operators collected more than $8.9 million in that sport. Operators collected more than $5 million combined from soccer and tennis, while the “other” category ranked fifth with more than $1.2 million.

Both baseball handle and revenue set all-time monthly highs, while soccer crossed the $250 million mark for handle on the year.

Same old story: DK 1st in handle, FD in revenue

DraftKings grabbed more traditional handle market share in August, pacing the six mobile operators in the state for the seventh time in eight months with $146.6 million in accepted wagers. DraftKings also became the first online operator in Illinois to clear $2 billion in handle for completed events.

FanDuel also cleared nine figures for August, placing a comfortable second at just under $110.9 million. BetRivers ($64.8 million), PointsBet ($27.3 million), Barstool ($25.5 million) and Caesars ($5.2 million) complete the pecking order, with the Aussie-based PointsBet fending off Barstool for the third straight month to claim the No. 4 spot.

Barstool, though, did edge out PointsBet for fourth in revenue with just under $2.1 million, while PointsBet finished less than $20,000 shy of $2 million. FanDuel’s overall win rate of 8.5% powered it to the top spot for revenue with more than $9.3 million — which was 40.3% lower than July’s take of more than $15.6 million.

DraftKings’ revenue slipped 19.7% month over month to under $7.3 million, while BetRivers tumbled 26.9% to just below $4.7 million. While Caesars’ handle surged 39.4% compared to July, its revenue fell 12.4% to $198,983, due to a paltry hold of 3.57%.

Retail handle modestly higher, but revenue lags

Retail sportsbooks were not immune to better bettor performances as the seven casino venues and two race tracks posted a cumulative win rate of 6.69% on nearly $20 million wagered — an increase of 7.7% compared to July’s $18.1 million. Rivers accounted for more than 40% of the handle with over $8.5 million, and its $675,538 in revenue was more than half the $1.3 million generated.

Casino Queen in East St. Louis ($202,160), Hawthorne Race Course ($153,391) and Argosy Casino Alton ($112,194) were the only other spots to post six-figure revenue totals, with Hawthorne’s total also factoring in its two off-track sites. FanDuel Sportsbook and Horse Racing on the western side of the state barely came out ahead with $6,307 on more than $570,000 wagers, while bettors placing wagers at Par-A-Dice in East Peoria came out $975 ahead on $260,504 wagered.

ShareTweetShare
Chris Altruda

Chris Altruda

Chris Altruda has been a sportswriter with ESPN, The Associated Press, and STATS over more than two decades. He recently expanded into covering sports betting and gambling around the Midwest. His Twitter handle is @AlTruda73 and can be reached via email at [email protected]

Related Posts

FanDuel $1 billion revenue New York
Analysis

FanDuel Tops $1 Billion In New York Mobile Sports Wagering Revenue

June 5, 2023
josh naylor
Industry

April Brings Newcomer Ohio Its Lowest Betting Activity Thus Far

May 31, 2023
Load More

Top Stories

colts logo

Source: ‘Pervasive’ Wagering From Colts Player Includes Bets On His Own Team

June 5, 2023
paspa ruling

From PASPA To Present: An Oral History Of The U.S. Sports Betting Gold Rush

May 11, 2023
inside-fanatics-sportsbook-fedex-field

Sources: Fanatics Enters Advanced Talks With PointsBet On Transformative U.S. Deal

May 12, 2023
new york times headquarters

The ‘Risky Wager’ Series From New York Times Was No Hit Piece β€” It’s Reality

May 31, 2023

State Sports Betting Guides

Ohio (U.S. state) flag waving against clear blue sky, close up, isolated with clipping path mask alpha channel transparency, perfect for film, news, composition

Ohio Sports Betting – All Online Sportsbooks, Bonus Offers, and News 2023

by Brian Pempus
May 16, 2023

Downtown Detroit at twilight (Shutterstock)

Michigan Sports Betting – Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
May 2, 2023

VA captial

Virginia Sports Betting – Where To Play, Online Sportsbooks And Bonus Offers

by Brett Smiley
April 24, 2023

nj flag

New Jersey Sports Betting — Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
March 22, 2023

pa online sportsbooks

Pennsylvania Sports Betting – Where To Play, Online Sportsbooks And Bonuses

by Brett Smiley
May 3, 2023

Canada Sports Betting Guides

Canada Sports Betting – Best Sportsbook Apps & Bonus Offers

British Columbia Sports Betting – Legal Update, Available Sportsbooks, and FAQ

Ontario Sports Betting – Legal Status And Where To Play

SportsHandle

  • Analysis
  • Casino
  • Features
  • Horse Racing
  • Industry
  • Legal
  • Legislation
  • Lottery
  • Opinion
  • Podcasts
  • Poker
  • Politics
  • Promotions
  • Regulation
  • Sports
  • Uncategorized

Better Collective

This website is owned and operated by Better Collective USA. Trademarks and copyrights referenced on this website are and shall remain the exclusive property of their respective owners and/or licensors. Please be sure to visit the operator’s website(s) to review their terms & conditions. We advise you to read these carefully as they contain important information. Copyright Β© 2023 USBets.com | Better Collective USA
21 Play Responsibly
Gamble Aware West Virginia
Gambling Problem? Call 1-800-Gambler.
GameSense

Search Sports Handle

No Result
View All Result
  • About Us / Contact
  • Responsible Gambling

No Result
View All Result
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Kentucky
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Vermont
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News