The Illinois Gaming Board reported $94.6 million in adjusted gross sports betting revenue for June on Friday, a figure boosted by an adjustment of more than $9.1 million to DraftKings‘ online winnings.

That contributed to a 73% rise in year-over-year AGR and created a hold of 11.2%, an all-time high in 50 months of wagering in Illinois when including the adjusted figure. Handle was just shy of $848 million, a 27.4% increase from June 2023, and year-to-date wagering surpassed $6.5 billion. Illinois will likely finish second nationally to New York for June handle, as only Arizona has yet to report figures for the month.

Revenue was down 6.2% compared to May, while handle declined 16.6% as Illinois’ streak of $1 billion handle ended at nine months. The Land of Lincoln also became the third state to reach $3 billion in sports betting revenue in the post-PASPA era, joining New York and New Jersey.

The state collected $14.2 million in taxes in June and finished Fiscal Year 2024 with $167 million worth of receipts, an increase of $24.7 million versus Fiscal Year 2023. June was the last month the Illinois sports betting tax rate was a flat 15%. The new fiscal year, which began July 1, introduced progressive rates that start at 20% and can reach as high as 40% based on revenue thresholds for each licensee.

Revenue generated in Cook County totaled $57.4 million and provided $1.1 million in taxes for the county based on its 2% levy. The DraftKings Sportsbook adjacent to Wrigley Field provided $1,800 in tax revenue for the City of Chicago, which collected a 2% tax on $91,600 in winnings.

1 New York $1.48B
2 ILLINOIS ~$848M
3 New Jersey $748.4M
4 Ohio $530.6M
5 Mass. $509.4M
6 Nevada $481.6M
7 Penn. $464.5M
8 Virginia $415.4M
9 North Carolina $398.3M
10 Maryland $384.7M#SportsBettingX #GamblingX

— Chris Altruda (@AlTruda73) August 9, 2024

An inquiry has been placed with the Illinois Gaming Board regarding the difference between the revenue amount generated from completed events for DraftKings for June and its final AGR number. Based solely on events, DraftKings claimed $29.7 million in winnings from $322.8 million worth of wagers — good for a 9.2% hold. When including the adjustment, that figure jumps to $38.8 million with a 12.1% win rate.

Technically, FanDuel finished second in both revenue and handle due to the IGB’s adjustment on DraftKings’ revenue total, but the mobile juggernaut maintained its status quo with a 13% win rate against $280.3 million in handle. That resulted in $36.4 million in revenue.

In looking ahead to the new progressive tax structure based on Fiscal Year 2024 figures, both DraftKings and FanDuel would have paid a substantial amount of taxes on revenue at the maximum 40% rate. DraftKings generated $379.2 million in AGR, meaning $179.2 million would have been taxed at 40%, while more than 55% of the $447.9 million FanDuel claimed would have been subject to that levy.

Illinois is one of four states — along with New York, Pennsylvania, and Vermont — where DraftKings has announced it will implement a surcharge on winning bets (effective Jan. 1) to recoup some of its potential lost revenue to states that tax above 20%. DraftKings has yet to announce the percentage for that surcharge, but based on their month-by-month revenue totals for the first half of FY 2024, the surcharge would be taking effect when DraftKings enters that top 40% tax bracket.

Fanatics Sportsbook made a strong push for the final podium spot for revenue, but its $4.4 million was $351,000 shy of BetRivers‘ $4.8 million haul. Fanatics did have the second-best hold among Illinois’ eight sportsbook apps at 12% from $41.5 million in handle. BetRivers also claimed the No. 3 spot for handle at $54.9 million, resulting in an 8.8% win rate.

ESPN BET rounded out the top five for revenue at $3.5 million, riding a 9.5% hold from $36.4 million worth of accepted bets, and BetMGM‘s 6.4% hold from $42.5 million in handle resulted in $2.7 million in winnings. Caesars landed at $1.8 million in June revenue after crafting a 4.8% hold from $38.1 million in handle, and mobile bettors came out slightly ahead against Circa Sports — winning $13,300 above the $11.5 million they wagered.

When broken into events, parlay and same-game parlay wagering topped all handle amounts at $243.3 million, edging the $241.2 million in bets. Operators statewide combined for a 17% hold on multi-leg wagers, resulting in $41.3 million in revenue.

FanDuel, as is almost always the case, made hay with $22.8 million in winnings thanks to a robust 22.7% win rate against $100.7 million in handle. DraftKings edged into eight figures for winnings at $10.7 million, but its hold was only 13% from $82.3 million worth of wagers.

Both BetRivers and Fanatics eclipsed $1.8 million in parlay revenue, with Fanatics posting a slightly better hold at 14.7% to BetRivers’ 14.5%. ESPN BET won $1.5 million from bettors on parlays and fashioned a 17.7% hold from $8.6 million in such wagers. Circa Sports began accepting bets on parlays for the first time since entering Illinois last fall and paid out $52,100 above the $582,200 in accepted wagers, a -9% hold.

When excluding parlays, the biggest source of operator revenue came from baseball at $15.8 million as operators had a 6.6% hold. But the $12.3 million in winnings from basketball was a four-fold increase from last year as the 12% win rate was an all-time monthly high.

Multiple sports treated operators well in June: Soccer revenue totaled just shy of $5 million with a 9.4% hold and was boosted by the European Championship as handle reached $52.9 million. Despite a pedestrian 5.7% win rate in tennis, sportsbooks still came away with $4.6 million.

The hold on hockey wagers reached 12.6% as operators kept $2.7 million of the $21.1 million wagered. But bettors nearly matched that amount in golf winnings, coming out $2.4 million ahead on $26.8 million in handle and hanging a -8.9% win rate on the house. It was the largest monthly loss for sportsbooks on golf in Illinois as five of the eight mobile books finished in the red — DraftKings was socked with a $1.8 million loss and FanDuel paid out $821,000 above tickets written.