Illinois Reaches More Sports Betting Milestones, But Revenue …

Oct 13, 2023 · According to the Illinois Gaming Board, the Land of Lincoln saw adjusted gross revenue fall 23.2% from July to $46.9 million in August, as online betting sites and retail locations combined to ...

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Illinois Reaches More Sports Betting Milestones, But Revenue …

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All-Time Illinois Sports Betting Revenue Crosses $3 Billion Milestone

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Aug 23, 2024 · Illinois hit its revenue milestone even though the pace of betting ebbed. June 2024’s $848 million handle broke a nine-month streak in which bettors staked more than $1 …

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Illinois Reaches $1 Billion Sports Wagering Revenue Milestone

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The nearly $46.1 million claimed by sportsbooks in July was the ninth-highest total in 27 months of wagering since launch in March 2020. Illinois joined New Jersey, Nevada, and Pennsylvania …

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Illinois Sports Betting Revenue Surpasses $1 Billion Milestone

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Sep 15, 2022 · Year-to-date numbers through July shows Illinois sports betting ranks solidly in second place in the nation with revenue of more than $388 million. Only New York is higher …

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All-Time Illinois Sports Betting Revenue Crosses $3 Billion …

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In June 2024, Illinois sports betting revenue numbers pushed the Land of Lincoln into an exclusive neighborhood. It became the third state to pass the $3 billion mark in all-time …

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Illinois’ Historical Sports Betting Handle Hits $25 Billion, Fourth ...

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Oct 26, 2023 · The Illinois sports betting market is one of the most robust in the nation. Since its inception, in August 2020, Illinois has seen the state’s sports betting handle soar above the …

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Illinois Sports Betting Action Rises 30% Year-Over-Year In August

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Oct 22, 2024 · The rates start at 20% on revenue of $30 million or less and increase 5% each level to 40% on adjusted revenue of $200 million or more. FanDuel became the first online …

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Illinois Sportsbooks Post $95 Million In June Adjusted Gross Revenue

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Aug 9, 2024 · (CONFIRMS DRAFTKINGS ADJUSTMENT WAS MADE IN 6TH GRAF) The Illinois Gaming Board reported $94.6 million in adjusted gross sports betting revenue for June on …

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Illinois Lawmakers Could Add Internet Gambling To State's Bevy Of ...

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1 day ago · Illinois government relied on a record-high $2.1 billion in gaming tax revenue in the fiscal year ending in June, including $158 million from casinos, $190 million from sports …

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Illinois Reaches $1 Billion Sports Wagering Revenue Milestone

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Sep 15, 2022 · Illinois became the fourth state to surpass $1 billion in sports wagering operator revenue when Illinois Gaming Board Administrator Marcus Fruchter announced Thursday the …

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Sports Betting Tax Revenue: States, Sportsbooks, And Consumers

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Dec 10, 2024 · Key Findings. Legal sports betting in the U.S. hit an all-time high in 2023 at more than $100 billion wagered. States collected more than $1.8 billion in taxA tax is a mandatory …

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Illinois Sets Monthly High In Sports Betting Revenue, Surpasses …

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Feb 9, 2024 · According to the Illinois Gaming Board, sports betting operators combined to generate $1.3 billion in wagers, down 4.5% from November, with record profits of $128.4 …

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Revenue Plummets In Illinois Despite Record Sports Betting …

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Dec 17, 2024 · A monumental sports betting handle in October led to a 24.5% year-over-year increase and a new record for the amount wagered in the Land of Lincoln. The Illinois Gaming …

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Illinois Sports Betting Year In Review - Covers.com

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3 days ago · The Illinois sports betting tax rate will increase massively in 2025 based on legislation approved in 2024, from 15% to 20% to 40%, depending on sportsbook revenue.

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FAQs about Illinois Reaches More Sports Betting Milestones, But Revenue … Coupon?

Is sports betting booming in Illinois?

Sports betting in IL is booming. Year-to-date numbers through July shows Illinois sports betting ranks solidly in second place in the nation with revenue of more than $388 million. Only New York is higher with revenue of more than $682 million. Illinois is third in sports betting handle in 2022 with over $5.2 billion bet. ...

How much money does sports betting make in Illinois?

The $1 billion figure combines sports betting revenue both online and in-person at Illinois casinos. Exceeding $1 billion in sports betting revenue a little over two-and-a-half years after the market launched is an incredible achievement for the Illinois gaming industry and a boon to the state’s taxpayers. ...

Does Illinois have legal sports betting?

Illinois has already established itself among the big hitters when it comes to legal sports betting in the U.S., and the Land of Lincoln solidified that even further by reaching another milestone with a successful July. ...

Should sports betting be taxed based on net gaming revenue?

Low-rate taxes based on net gaming revenue make an effective tax design. Consumers legally wagered more than $100 billion on sporting contests in 2023, creating more than $1.8 billion in state revenue. Sports betting is now legal in 38 states and the District of Columbia, and the landscape is rapidly evolving. ...

How much money did New York raise from sports betting?

In fiscal year 2023, New York raised more than $800 million in tax revenue from sports betting, 43.2 percent of nationwide sports betting state tax collections. Table 3 shows the handle, GGR, hold, and tax collections from all states that reported legal sports gaming revenues in fiscal year 2023. ...

Which states tax sports betting?

State statutory sports betting tax rates range from 6.75 percent in Nevada and Iowa to 51 percent in New Hampshire, New York, and Rhode Island. New York generated more than $800 million in sports betting tax revenue in 2023, while South Dakota raised less than $100,000. Low-rate taxes based on net gaming revenue make an effective tax design. ...