The Keystone State’s thrust for sports betting is not subsiding.
A month after posting its first handle of over $900 million, the Pennsylvania Gaming Control Board announced a December handle of $925.6 million.
With the NFL, NBA, and NHL dominating the sports landscape in Pennsylvania, the amount wagered in December was up 22.6% year-over-year and the second-highest ever to November’s record total of $934.1 million.
What was different compared to the previous month was the revenue. Sportsbook operators in December hit an all-time high in the Keystone State with a 10.6% hold, doubled from the previous month, that created $98 million of gross revenue, a 99.5% increase from November and up 37.7% year-over-year.
Take out promotional bets, the adjusted revenue of $72.5 million is still the best in Pennsylvania history and up 32.7% from December 2022.
A month after only claiming $4.6 million in tax revenue, the Keystone State filled its coffers with $24.7 million in December.
Total gaming revenue generated over $534 million for the month, another all-time high, while iGaming brought in $165.1 million, surpassing Sept. 2023 as the best month ever.
FanDuel hits nearly 12% hold
Online sports betting accounted for 94% of Pennsylvania’s total handle in December.
FanDuel led all operators with a mobile handle of $391.8 million, and thanks to an 11.9% hold that produced $46.6 million of revenue.
DraftKings was second with a handle of $233.2 million and enjoyed a 10.6% hold that generated $24.8 million in revenue. ESPN BET, in its first full month, produced a handle of $81.2 million and a win rate slightly over 10%.
BetMGM finished fourth in the Keystone State with $50.3 million wagered while Caesars generated a $38.7 million handle.
PointsBet recorded an $11.4 million handle and 8.7% hold in its final full month of operation. Fanatics Sportsbook completed its Pennsylvania migration and launched its app on Monday.
What a year
Pennsylvania enjoyed a profitable 2023. The sports betting handle of $7.68 billion was up 5.95% from 2022 while adjusted revenue of $458.6 million was 14.3% more than the previous year.
Sportsbook operators paid out over $155 million in taxes to the Keystone State in 2023.
Online casino revenue of $1.7 billion was up 27.7% year-over-year.
