The Illinois Gaming Board reported that sportsbooks had a hold above 10.8% for May, an all-time high for the state that was in line with a monthly rout of the sports wagering public nationwide.  It was only the third time in 37 months of wagering in the Land of Lincoln that the win rate reached double figures, with the previous high being 10.2% in July 2021. Illinois fell in line with practically all of the states that offer commercial sports wagering in May, with its 10.84% hold on $821.7 million in traditional handle ranking 22nd out of 27 states.  That dropped the overall hold on gross revenue to 11.4%, with only Colorado and Arizona yet to report.

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The all-time, post-PASPA record monthly hold of 11.7% set in September 2018 appears safe, given that Colorado has posted a 10% or higher hold just twice in state history, with one of the two being a 10.01% win rate on $25.6 million handle during its May 2020 launch.  Arizona has recorded five double-digit holds in 20 months of wagering, the most recent one coming last September at 10.3%.

The IGB reported $89 million in adjusted gross revenue, 32% higher than in May 2022, as the handle was up 7.5% year-over-year, and the hold was more than two full percentage points higher.  The state collected nearly $13.4 million in tax revenue.  In comparison, Cook County’s coffers had nearly $1 million inflow after collecting its 2% levy on the $49.6 million adjusted gross revenue operators claimed on bets within Illinois’ largest county.

Perhaps the most telling statistic of Illinois sportsbooks’ performance on parlay wagering is that revenue ticked 0.3% higher from April to nearly $51.3 million despite completed handle dropping 12.6% to $218 million.  The state’s seven mobile sportsbooks combined to produce a staggering 23.5% hold, claiming close to $49.4 million from the $210.1 million handle.
FanDuel produced another knockout punch for parlays, fashioning a 26.8% hold to claim $24.4 million from $90.8 million in accepted wagers.  Its chief rival, DraftKings, clocked a 21.3% hold with $13.9 million from the $65.2 million handle.  Five mobile operators notched a 20% or higher win rate on parlays.

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