Illinois Wagering Volume Continues To Be Notably Down [Yahoo! Finance]
DraftKings Inc. - Class A (DKNG)
Company Research
Source: Yahoo! Finance
that hides the continuing sharp year-over-year decline in the number of wagers placed in the Land of Lincoln. The state's 10 mobile sportsbooks accepted 20.6 million wagers in February, down 25.2% from last year. The downturn is 30.7% when excluding bet365, which took 1.5 million bets this February and did not launch in Illinois until last March. The per-wager surcharge passed in last year's budget continues to be an albatross dragging wagering volume down. Proponents can argue the 25-cent or 50-cent tax per bet placed has more than served its purpose; the $83.6 million in tax receipts generated the first eight months of the fiscal year is more than double the $40 million estimated prior to Illinois Gov. JB Pritzker signing the budget into law last June. FanDuel and DraftKings, the lone digital operators paying the higher 50-cent surcharge, accounted for $7.4 million of the $8.8 million in remits for February. A bill to repeal the law in time for fiscal year 2027 has been filed
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