{"id":1584792,"date":"2024-06-14T10:43:21","date_gmt":"2024-06-14T14:43:21","guid":{"rendered":"https:\/\/sports7.us\/?p=1584792"},"modified":"2024-06-14T10:43:21","modified_gmt":"2024-06-14T14:43:21","slug":"in-april-2024-illinois-sportsbooks-generated-92-million-in-revenue","status":"publish","type":"post","link":"https:\/\/sports7.us\/news\/in-april-2024-illinois-sportsbooks-generated-92-million-in-revenue\/","title":{"rendered":"In April 2024, Illinois Sportsbooks generated $92 million in revenue"},"content":{"rendered":"<p><span style=\"font-weight: 400\">The Illinois Gaming Board reported $92 million in adjusted sports betting revenue in April 2024. For the eighth consecutive month, their betting handle topped $1 billion. Compared to April 2023, operator winnings were up 2.7%. That despite a 22.8% increase in their handle to $1.1 billion. Illinois\u2019 hold was just shy of 10% in 2023, compared to 8.3% in 2024. Additionally, their betting handle dropped by 12.7%. In March, they had a betting handle of $1.26 billion, but revenue was 7.6% lower.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">On top of all this, Illinois became the fourth state along with New York, New Jersey, and Nevada to surpass an all-time post-PASPA betting handle of $35 billion. Illinois also collected $13.8 million in taxes for April 2024. Bringing their yearly total to $61.5 million. Right now, they are $8.9 million ahead of their pace in 2023. Starting July 1, Illinois will be switching to new progressive tax rates.\u00a0<\/span><\/p>\n<h2><b>What sportsbooks saw the most profit in April 2024?<\/b><\/h2>\n<p><span style=\"font-weight: 400\">One shocking number for Illinois\u2019 April 2024 revenue, FanDuel and DraftKings made up for more than 90% of the $49 million in additional tax revenue. Additionally, both industry leaders were in the 35% tax bracket on the strength of parlay revenue. FanDuel had $133.1 million in winnings from multi-leg bets. That alone would have put them in the 35% tax bracket. However, DraftKings would be in the 30% tax bracket with their $80.6 million in revenue.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">In Illinois, an amendment separated the revenue from sports betting apps and brick-and-mortar venues into separate tax brackets. BetRivers is one sportsbook that benefits from that change. In April, BetRivers generated $3.5 million. FanDuel was #1 in April 2024 with $43.8 million in revenue. They had an 11.3% hold and a $386.9 million handle. Almost 80% of their winnings came from parlays and same-game parlays. FanDuel saw $134.8 million wagered on paralys in April 2024.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">DraftKings had the largest handle in April 2024 with $400.3 million. They collected $27.9 million in winnings. Parlays accounted for $17.7 million of their winnings, close to \u2154 of the total. BetRivers had a 7.6% hold on $5.4 million in winnings and a betting handle of $71.5 million. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Illinois Gaming Board reported $92 million in adjusted sports betting revenue in April 2024. For the eighth consecutive month, their betting handle topped $1 billion. Compared to April 2023, operator winnings were up 2.7%. That despite a 22.8% increase in their handle to $1.1 billion. Illinois\u2019 hold was just shy of 10% in 2023, [&hellip;]<\/p>\n","protected":false},"author":304,"featured_media":1584794,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[447316],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.3 (Yoast SEO v22.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>In April 2024, Illinois Sportsbooks generated $92 million in revenue<\/title>\n<meta name=\"description\" content=\"In April 2024, Illinois Sportsbooks generated $92 million in gross gaming revenue. 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