MLB Same Game Parlay Picks, Odds & Predictions – Monday, August 21
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MLB Same Game Parlay Picks, Odds & Predictions – Tuesday, August 22
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The Illinois Gaming Board reported $54.7 million in adjusted gross sports wagering revenue for June, continuing a strong 2023 for sportsbook operators in the Land of Lincoln. The operators’ winnings were up 33.8% from June 2022, the last time the hold was below 7% in the state. This June’s win rate was 8.2%, the second-lowest of the year behind February’s 7.8% and 2.6 percentage points less than the all-time high of 10.8% set in May.
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The $494.8 million in revenue for the first half of the year is 45% higher compared to the opening six months of 2022, with a hold of 9.2%, almost two full percentage points higher. That has led to an additional $23 million in state tax revenue in 2023 versus last year, with the coffers getting an inflow of $8.2 million in June and lifting the total to $74.2 million.
The handle was up year-over-year in June, ticking 5.9% higher to $665.8 million. Illinois extended its streak as the No. 2 state nationally for handle to five months, a run that started in February.
While it is still a long way from challenging New York for the No. 1 spot, Illinois will expand beyond its current seven mobile operators in the coming months as Circa Sportsbook and Hard Rock Bet are expected to launch mobile operations in the fall.
June marked the first time in three months that the hold on parlay wagers failed to clear 20%. The $31.7 million in operator revenue from those bets sent the all-time total from parlay wagering in Illinois over $1 billion. The overall hold on those wagers since launch is a robust 18.4% from $5.6 billion wagered, and the house is doing even better thus far in 2023 with a 19.7% win rate to claim $290.4 million from almost $1.5 billion in parlay bets.
Unsurprisingly, FanDuel has been the pacesetter regarding mobile parlay wagering, highlighted by its first-mover status in the same-game parlay space. Its gaudy 22.9% hold is over six percentage points clear of its closest rival in Illinois and over eight percentage points higher than top rival DraftKings.
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