Online and retail sportsbooks clobbered sports bettors in Pennsylvania in July.
The Pennsylvania Gaming Control Board reported monthly revenue of $52.7 million, up nearly 34% from July 2023 and an increase of 22.5% from June.
The $414.7 million handle means sports betting operators took home a 12.7% hold, the second highest in Keystone State history.
The July handle was up 22.5% year-over-year but down from the $464.5 million generated in the previous month. That was offset greatly by a win rate that jumped more than three points month-over-month.
The taxable revenue of $38.6 million was up more than 20% year-over-year and led to the Keystone State filling its coffers with $13.9 million, putting the year-to-date tax revenue over $100 million.
Online Pennsylvania sports betting accounted for $392.1 million of the total handle in July while retail sportsbooks generated $22.6 million in wagers.
Spending for business
Online sportsbooks handed out $14.1 million in promotional credits, up from the $13.1 million spent in June. The total for July is nowhere close to the most sportsbooks spent in a single month this year. That came in January when they handed out more than $27 million.
However, in a month with no football and mostly MLB and part of the Olympic Games to rely on, mobile operators were willing to spend nearly 80% more year-over-year to drive business.
Charles Town for the rare win
| Operator | July Revenue | YTD Revenue |
|---|---|---|
| FanDuel | $165.5 million | $23.4 million |
| DraftKings | $109.5 million | $12.7 million |
| BetMGM | $28.1 million | $3.1 million |
| BetRivers | $22 million | $2.1 million |
| ESPN BET | $18.6 million | $2.2 million |
| Fanatics | $17 million | $2.4 million |
FanDuel hauled in $23.4 million in revenue in July, $1.7 million more than the previous month on a handle that was $13.7 million less, thanks to a 14% hold. The online sportsbook led the Keystone State with $165.5 million in wagers.
DraftKings was second at $109.5 million and enjoyed an 11.6% hold to rack up $12.7 million in revenue, up more than $1 million more than in June.
BetMGM’s handle fell below $30 million for a single month for the first time since August 2023, but an 11% win rate produced $3.1 million. The two partners associated with BetRivers helped the online operator generate $22 million in wagers.
ESPN BET came in fifth with an $18.6 million handle that produced $2.2 million in revenue. Fanatics brought in more profit with $2.4 million despite a handle of $17 million to enjoy its best month yet in Pennsylvania.
bet365, which launched July 22 in the Keystone State, generated $1.2 million in wagers while handing out $1.9 million in promotional credits.
Total gaming profits
Pennsylvania’s total gaming revenue for July reached $500 million and increased 7.2% year-over-year. This includes in-person table games and slots, online casinos, sports betting, video gaming terminals, and fantasy sports.
The Keystone State hauled in $207.7 million total in tax revenue. More than $75.5 million of that came from iGaming, which saw a year-over-year revenue increase of 31.2% to $174.3 million.
