October 11, 2021 Sports Betting, Online, Land-Based

Illinois sportsbooks generate August handle of $400m

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Despite an increase in handle, operators saw revenue drop double digits from July.

Illinois sportsbooks reported $400m in August handle, an 8.5% increase from July attributed to the return of college football NFL preseason games.

Mobile wagers accounted for $380m, or 95%, of all handle.

Illinois had the third highest handle of any U.S. market in August, trailing New Jersey ($665m) and Nevada ($427m). Illinois joins those states as the only markets to top $4bn in 2021 handle through the first eight months of the year.

The increase in handle did not translate to higher revenue, however, as a year-low 6.71% win rate kept revenue to $26.8m, a 28.6% decrease from July. Sports betting generated $4.3m in taxes, a 27.9% decline from the prior month.

One reason for the low revenue was bettors’ success at nailing parlays; parlay win rate was 9.6%, Illinois’ lowest since 7.75% in Sept. 2020.

DraftKings led all online operators in handle with $147m, while FanDuel was a distant second with $111m. BetRivers was third with $64.8m, followed by PointsBet with $27.3m, Barstool with $25.5m, and Caesars with $5.2m.

FanDuel led the market in revenue, earing $9.3m for a 40.3% decrease from July. DraftKings won $7.3m for second.

Among retail sportsbooks, Rivers paced the state with handle of $8.5m, netting $675,000 in revenue.

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