April marks eighth straight $1bn handle month for Illinois sportsbooks

Illinois sportsbooks saw another healthy month in April, generating $1.1bn in cumulative wagering volume as the state surpassed the $1bn marker for the eighth straight month.

The handle figure represented a 22.8% year-on-year (YOY) uptick from $898.6m during the same period of 2023, but a 12.7% decrease from March — a month in which the NCAA tournament helped fuel $1.26bn in wagering activity. 

Operators generated $91.9m in adjusted gross revenue (AGR) — good for a solid 8.4% hold — for the month, up 2.7% from $89.5m in April 2023.

As a result, tax payments back to the state equated to $13.8m as total tax revenue for 2024 pushed over $61m.

However, Illinois’ tax structure is notably set to change in July, with its 15% rate giving way to a progressive tax between 20% and 40% depending on operator revenue.

The new framework will impact FanDuel and DraftKings the most drastically, as the two market leaders have long dominated the state, with April registering as no exception.

FanDuel topped the podium for monthly revenue, generating $43.8m in AGR on $386.9m in overall handle, equating to a strong 11.3% hold.

DraftKings, conversely, took the number one spot in handle, accepting $400.3m in cumulative wagers, but holding less than 7% for $27.9m in revenue.

BetRivers rounded out the top three with $5.4m in revenue on $71.5m in handle.

In sports, basketball generated the most wagering volume, accounting for $314.3m of statewide handle, followed by baseball at $205.4m.

Bettors in the Land of Lincoln continued to love their parlays, evidenced by $307.3m in cumulative parlay handle in April.