With the NFL and March Madness in the rearview, sports betting declined in April in the Keystone State. The Pennsylvania Gaming Control Board reported $646.1 million in total bets and $59.1 million in revenue for the state in April.
PA online sportsbook handle decreased 19.3% month-over-month, which was to be expected. However, online sportsbooks experienced a 12.9% year-over-year increase. Despite Pennsylvania being a mature sports betting state, handle keeps improving from year to year.
PlayPennsylvania Managing Editor, Dave Briggs, said:
“As the sports schedule softens as the calendar closes in on summer, we typically see a decline in sports betting in April. The good news is the year-over-year comparison that shows solid increases over April of 2023. That trend shows Pennsylvania’s sports betting sector is still continuing to grow.”
April 2024 numbers for Pennsylvania sports betting
? Handle: $646.1 million (19.3% MoM decrease; 12.9% YoY increase)
? Revenue: $59.1 million (7.2% MoM decrease; 14.1% YoY decrease) / Adjusted Gross Revenue (taxable): $42.4 million
? Hold: 9.1% (up from 8.0% last month)
? Percent of bets placed online: 94%
? Promotional credits: $16.3 million
? March sports betting taxes: $15.3 million
? State and local entities: $848,250.22
? Top sports betting app by handle: FanDuel Sportsbook PA with $272.3 million
? Top sports betting app by revenue: FanDuel Sportsbook PA with $32.4 million
Quick analysis from April PA sports betting figures
- Fanatics Sportsbook relinquished a noticeable amount of market share in April. The new operator had a decent start in March, capturing nearly 4% of the the handle. While handle went down in April, which was to be expected, Fanatics’ market share dipped to 3.2%. Fanatics fell just outside the top five in handle in March. In April, it finished a spot lower in seventh.
- BetRivers Sportsbook PA put together a strong April, and finished in the top five, among handle, for the first time since October 2023. The operator produced $26.7 million in total bets, which was about $300,000 more than Caesars. Through the first two months of 2024, Caesars recorded $71.6 million in handle to BetRivers’ $57.9 million. BetRivers closed the gap in March, finishing $3.3 million behind Caesars, and completed the comeback in April.
- ESPN BET PA has generated the third-most handle in Pennsylvania in every full month in operation since launching in mid-November. That trend continued in April, while the operator also recorded its best hold percentage of the year at 9.1%.
PA sportsbook handle by operator in April 2024
| Licensee | Online Brand | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|---|
| Valley Forge | FanDuel | $272,312,469 | $32,425,453 | 11.9% | 9,149,534 |
| Hollywood Meadows | DraftKings | $168,276,670 | $14,072,754 | 8.4% | $3,538,285 |
| Hollywood Penn National | ESPN BET | $41,621,318 | $3,792,754 | 9.1% | $779,794 |
| Hollywood Morgantown | BetMGM | $39,017,656 | $2,573,737 | 6.6% | $403,522 |
| Rivers Pittsburgh | BetRivers | $26,740,722 | $1,281,807 | 4.8% | $277,838 |
| Harrah's Philadelphia | Caesars | $26,136,322 | 801,848 | 3.1% | $183,229 |
| Hollywood York | Fanatics | $20,487,032 | 1,749,689 | $8.5% | $228,708 |
| Rivers Philadelphia | PlaySugarHouse | $18,711,651 | (354,117) | -1.9% | ($213,037) |
| Parx | betParx | $16,615,004 | $1,492,451 |
9.0% | $483,556 |
| Live Philadelphia | Betway | $8,048,112 | $587,965 | 7.3% | $211,668 |
| Mohegan Pennsylvania | Unibet | $2,938,446 | $168,079 | 5.7% | $60,508 |
| Wind Creek | Wind Creek | $1,186,096 | (14,766) |
-1.2% | ($5,316) |
| South Philadelphia Race & Sportsbook | $1,069,284 | $113,499 | 10.6% | $40,860 | |
| Live Pittsburgh | $956,055 | $87,253 | 9.1% | $31,411 | |
| Mohegan Lehigh Valley | $886,785 | $176,609 | 19.9% | $63,579 | |
| Presque Isle Downs | $519,564 | $66,814 | 12.9% | $24,053 | |
| Mount Airy | Fox Bet | $484,195 | $14,342 | 3.0% | $5,163 |
| Parx Shippensburg | $53,682 | $14,302 | 26.6% | $5,149 | |
| Total | $646,061,065 | $59,050,708 | 9.1% | $15,268,504 |
