Pennsylvania sportsbooks turned in a record-breaking month for the month of July. Operators recorded their best-ever handle and revenue figures for any July since sports wagering became legal in the Keystone State.
The Pennsylvania Gaming Control Board reported PA sportsbook handle to be $414.7 million as revenue reached $52.7 million. While July is considered to be the slowest time of the year, operators were able to set July records in both categories.
Sportsbook handle decreased 10.7% month-over-month, which is to be expected. However, handle increased 5.5% year-over-year, indicating that mature market is not slowing down. Revenue increased in both categories, 22.6% from June and and 33.6% from last July.
PlayPennsylvania Managing Editor, Dave Briggs, said of PA online sportsbooks:
“As we approach the start of the NFL season, July’s better-than-expected sports betting numbers bode well for the sector in Pennsylvania. If that trend holds, we expect this fall to smash sports betting records for the Commonwealth.”
July 2024 numbers for Pennsylvania sports betting
? Handle: $414.7million (10.,7% MoM decrease; 5.5% YoY increase)
? Revenue: $52.7 million (22.6% MoM increase; 33.6% YoY increase) / Adjusted Gross Revenue (taxable): $38.6 million
? Hold: 12.7% (up from 10.4% last month)
? Percent of bets placed online: 94.6%
? Promotional credits: $14.2 million
? July sports betting taxes: $13.1 million
? State and local entities: $771,314
? Top sports betting app by handle: FanDuel Sportsbook PA with $165.5 million
? Top sports betting app by revenue: FanDuel Sportsbook PA with $23.4 million
Quick analysis from July PA sports betting figures
- Even in a month as slow as July, FanDuel still dominates sportsbooks in the Keystone State in every way imaginable. The operator boasts the highest handle and revenue of any one else. And perhaps the most impressive feat is FanDuel’s hold percentage, coming in at 14.2%, the highest of any online operator. Much of that can be attributed to the Same Game Parlay feature that appears to be extremely popular amongst players.
- Fanatics Sportsbook PA fell just outside the top five in handle. However, it finished in the top five in revenue. The operator had the second-highest hold percentage at 14.1%, which triggered $2.5 million in revenue, behind FanDuel, DraftKings and BetMGM. Perhaps Fanatics will be able to carry this momentum into football season.
- The sale rumors will once again be the topic of conversation.
PA sportsbook handle by operator in July 2024
| Licensee | Online Brand | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|---|
| Valley Forge | FanDuel | $166,370,462 | $23,586,723 | 14.2% | $6,443,799 |
| Hollywood Meadows | DraftKings | $110,365,248 | $12,760,205 | 11.6% | $3,763,912 |
| Hollywood Morgantown | BetMGM | $28,695,655 | $3,230,690 | 11.3% | $678,593 |
| Hollywood Penn National | ESPN BET | $19,486,072 | $2,262,880 | 11.6% | $649,226 |
| Rivers Pittsburgh | BetRivers | $18,283,527 | $1,785,549 | 9.8% | $484,884 |
| Hollywood York | Fanatics | $17,887,700 | $2,527,496 | 14.1% | $389,640 |
| Harrah's Philadelphia | Caesars | $15,990,493 | $1,655,899 | 10.4% | $526,184 |
| Parx | betParx | $12,482,089 | $1,139,726 | 9.1% | $350,802 |
| Rivers Philadelphia | PlaySugarHouse | $9,381,144 | $1,005,643 | 10.7% | $282,168 |
| Presque Isle Downs | bet365 | $6,260,762 | $1,234,229 | 19.7% | ($239,361) |
| Live Philadelphia | Betway | $5,458,405 | $748,885 | 13.7% | $269,598 |
| South Philadelphia Race & Sportsbook | $937,500 | $200,388 | 21.4% | $72,140 | |
| Live Pittsburgh | $785,313 | $166,823 | 21.2% | $60,056 | |
| Wind Creek | Wind Creek | $760,704 | $111,049 | 14.6% | $39,978 |
| Mohegan Lehigh Valley | $605,627 | $124,548 | 20.6% | $44,837 | |
| Mohegan Pennsylvania | $565,950 | $118,533 | 20.9% | $42,672 | |
| Mount Airy | $316,722 | $56,572 | 17.9% | $20,366 | |
| Parx Shippensburg | $40,432 | $11,540 | 28.5% | $4,154 | |
| Total | $414,673,804 | $52,727,378 | 12.7% | $13,883,648 |
