Illinois Sports Betting Slides To Low Point In July Revenue Report – Legal Sports Report

The US sports betting industry can put a slow July behind it now as Illinois sports betting figures rolled in last week.

Illinois is the last state to report its July sports betting figures, dropping to $369.1 million in handle during the month, according to an Illinois Gaming Board report. That number is down 22.5% from Junes $476.5 million.

Illinois sports betting will likely start to rebound in Augustas bettors prepared for the NFL season. July was the states slowest month since September 2020, when Illinois recorded $305.2 million in handle.

In July, Illinois sportsbooks generated $37.3 million in revenue, good for a 10.1% hold.

Revenue was down nearly 23% from Junes $48.2 million.

The state collected $5.6 million in taxes.

DraftKings led the market with $122.7 million in handle, with FanDuel close behind at $118.5 million. BetRivers continues to be a distant third, drawing $68 million, including $9.3 million in retail bets.

FanDuel kept its revenue lead, generating $15.5 million.

The states in-person registration requirement is set to expire once the IGB awards the first online-only license in the state. That application period ends Dec. 3 and could welcome new operators to the state, like BetMGM, and could result in a significant handle bump.

With not much else underway for most of July, MLB ruled the roost during the month. Illinois bettors wagered $124 million on baseball, or 33.6% of the months bets.

The Chicago White Sox have the state preparing for a playoff run, while the month saw the Chicago Cubs trade away a core of players that brought the city a historicWorld Series title in 2016.

The lack of a robust sports schedule is why July is often the worst month for the US sportsbooks.

Illinois posted the third-highest July handle in the US sports betting landscape, behind New Jersey and Nevada. Every legal US sports betting market saw a dip in handle during the month, with the monthly national handle dropping23.9%.

Revenue did not fair much better nationwide, dropping20.5%. However, hold across US markets was 9.5%, the highest since October 2019.

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Illinois Sports Betting Slides To Low Point In July Revenue Report - Legal Sports Report