Who Built Illinois Sports Betting Momentum In August?

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Illinois sports betting

Illinois sports betting closed out the summer with $676 million in handle, a 20% increase over August 2022.

The most recent state report released last week shows that DraftKings accepted $245.1 million, or 36%, of all dollars in August.

DraftKings led all Illinois sportsbooks in handle for the third consecutive month.

Riding an IL sports betting high

DraftKings Sportsbook took over the Illinois sports betting mantle in June, securing 35% of online handle to begin the summer.

The sportsbook bumped its handle share to 39% in July before grabbing the top spot again in August with a 37% market share.

FanDuel sits atop revenue

While DraftKings gathered the most handle, FanDuel Sportsbook made the most money of any IL sports betting app in August.

FanDuel boosted year-over-year revenue by 17% in August, clearing $21.4 million online. DraftKings saw its revenue drop 11% to $19.7 million.

Illinois-based BetRivers took close to 10% of market revenue with $5.5 million for the month.

Illinois sports betting sees similar theme

FanDuel generated more revenue off a higher hold percentage despite accepting fewer betting dollars than rival DraftKings. It is a common theme across multiple US sports betting markets, including New York and Indiana.

FanDuel produced a 9.6% win rate in August, trailing only the 10.5% hold acquired by BetMGM. DraftKings’ 8.2% win rate was the fifth highest among the seven IL sports betting apps.

FanDuel parent company, Flutter, shared with investors in August that the growing popularity of its same-game parlay product and more accurate pricing has driven higher margins.

End draws near for PointsBet

PointsBet accepted $30.3 million in online bets for August, down 21% from the same month last year.

Its $2.7 million in online revenue was also a 26% drop year-over-year. Fanatics will soon take over the Illinois sports betting license from PointsBet after acquiring its US assets earlier this year.

Illinois sports betting August rank

With $676 million in August, IL sports betting finished with the third-most handle nationwide:

Lifetime Illinois sports betting handle surpassed the $25 billion mark in August. The Praire State joined Nevada, New York, and New Jersey as the only states to reach the milestone.