Illinois Sportsbooks Claim $108.6 Million In Revenue For April

The Illinois Gaming Board reported $108.6 million in adjusted gross sports betting revenue for April, but much of the conversation around the second-largest market in the United States continues to be the surcharges FanDuel and DraftKings intend on instituting in the autumn.

Operator revenue increased by 18.1% compared to last year, slightly outpacing the 16.4% increase in handle to $1.28 billion. Illinois was again ahead of Nevada for the No. 3 spot for handle in the post-PASPA era, moving within $306 million of $50 billion. The Land of Lincoln likely will be holding onto that spot permanently as it widened the gap between itself and Nevada to nearly $1.2 billion.

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The state received $38.7 million in tax income, with FanDuel and DraftKings accounting for the majority of that total with a combined remittance of $30 million while paying the maximum 40% rate depending on revenue requirements. Both online titans revealed intentions to levy a 50-cent tax on all wagers beginning September 1 in response to the state legislature approving a budget law that includes a 25-cent surcharge on the first 20 million wagers received by a licensee and 50 cents on all wagers thereafter.

The $55.2 budget package is pending Illinois Gov. JB Pritzker’s approval, and the fee would go into effect July 1 at the start of the new fiscal year.

Courtesy: https://www.covers.com/, https://www.casino.org