The Illinois Gaming Board reported $100.9 million in adjusted gross sports betting revenue for May late Monday as FanDuel‘s continued hammering of the public for parlays and same game parlays proved instrumental in another big month for operators.
The Land of Lincoln also narrowly extended its streak of $1 billion handles to nine months after sportsbooks accepted $1.02 billion worth of wagers. The $5.74 billion in handle for the first five months of the year is 21.2% higher compared to 2023 as Illinois edged over $36 billion in handle since launching right before the COVID-19 pandemic in March 2020.
Revenue was up 13.3% compared to last year as the 9.9% hold was more than nine-tenths of a percentage point lower. Operator winnings, however, were up 9.7% compared to April with the win rate 1.6 percentage points higher.
The state collected $15.1 million in taxes based on its 15% rate, which was in effect until July 1. The $76.7 million accrued in the calendar year is approximately $10.6 million ahead of last year’s pace, but things will look drastically different starting with July’s report.