In June 2024, Illinois sports betting revenue numbers pushed the Land of Lincoln into an exclusive neighborhood. It became the third state to pass the $3 billion mark in all-time revenue.
Illinois sports betting operators reported $81.3 million in revenue from about $848 million in bets (“handle”) for the most recent reporting month. The state collected about $15.34 million in taxes from the numbers, according to the Illinois Gaming Commission.
As of June 2024, only New York and New Jersey have pulled in more revenue from bettors since sports gambling went live in their states:
- New York — $4.26 billion (through July 2024)
- New Jersey — $3.94 billion
- Illinois — $3.07 billion
- Pennsylvania — $2.55 billion
- Nevada — $2.4 billion
June 2024 Illinois Sports Betting Numbers Snap $1 Billion Handle Streak
Illinois hit its revenue milestone even though the pace of betting ebbed. June 2024’s $848 million handle broke a nine-month streak in which bettors staked more than $1 billion on sporting events. The handle is up 27.4% from the same month in 2023, however.
Numbers traditionally dip over the summer. Watch for billion-dollar betting months to return with September 2024’s Illinois Gaming Commission report — if not sooner.
The June 2024 Illinois sports betting revenue report also closes out the budget year in the Prairie State. From July 1, 2023, to June 30, 2024, the state’s betting operators:
- Accepted $12.8 billion in bets — up 23.1% from FY23.
- Reported $1.11 billion in revenue — up 17% from FY23.
- Paid $178.7 million in taxes — up 17.2% from the previous budget year.
Illinois bettors first broke the $1 billion handle mark in October 2022. Counting that first milestone, Illinois betting app users and casino visitors have exceeded the $1 billion threshold in 14 of the last 21 reporting months.
November 2023 set the all-time, single-month high with $1.375 billion in placed bets. The FY24 low month was July 2023, with $611.4 million in bets placed.
Next Report Features Higher Tax Rate
Sports betting operators paid the state about $15.3 million in taxes in June — but that number may spike when July 2024 numbers are released. The beginning of the new budget year also marks the start of a new and higher tax rate.
The state replaced its 15% tax rate with a graduated tax rate starting July 1:
- 25% for Illinois sportsbooks that make less than $50 million in revenue
- 30% for operators that exceed $50 million but stay under $100 million in revenue
- 35% from $100 million to $200 million
- 40% for sports betting companies that clear more than $200 million in revenue
The Illinois tax hike was a driving force behind a DraftKings plan to add a surcharge to winning betslips in four states. DraftKings CEO Jason Robins and CFO Alan Ellingson targeted the surcharge for 2025 in Illinois, New York, Pennsylvania, and Vermont. They all have competitive markets and a tax rate of over 20%.
Other sportsbooks didn’t follow DK’s lead, however, so the sports betting giant “listened to its customers” and dropped the plan before it started.
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