FanDuel’s parlay offerings continue to be a big draw in Illinois and a big source of cash for the mobile sports wagering titan, as it topped $30 million in adjusted revenue for May, according to figures released Wednesday by the Illinois Gaming Board.
FanDuel, which was the primary mover in the single-game parlay market, had an overall win rate of 12.6% in the Land of Lincoln for May, claiming close to $31.9 million in revenue. Its more than $1.3 billion handle in 2022 is tops among all mobile operators, but it has created clear separation in revenue thanks to its parlay offerings. To wit, FanDuel’s $127.6 million in revenue this year is close to double that of DraftKings, which is No. 2 at nearly $70.5 million.
Overall, Illinois generated $764.6 million in traditional handle for May, missing out on overtaking New Jersey for second (behind New York) by slightly more than $1.8 million. The figure represented an 8.9% decline from April’s $839.4 million worth of wagers, but was also 50.7% higher compared to May of 2021.
FanDuel’s strong performance contributed to an overall hold of 8.8%, resulting in nearly $67.5 million in adjusted revenue. The win rate was nearly half a point higher than the previous month, helping limit the dip in revenue to 4.3%. The state received more than $10.1 million in taxes for May, the second straight month with eight figures and the third time overall.