The Pennsylvania Gaming Control Board reported that last month, the state’s legal sports betting market accepted $572.1 million in wagers, a 21% month-over-month decline.
From that handle, operators held 9% of their bets, little changed from March’s 9.1%. That meant that their gross revenue was $51.7 million. After promotional deductions, sportsbooks netted $37 million, a 26.8% drop and an 8-month low.
The $14.7 million in sportsbook deductions was also an 8-month low, not seen since before the start of the NFL season.
Online sports betting sites increased their already massive share of the statewide handle, improving to 93.7% of all bets made.
Compared to April 2022, Pennsylvania’s numbers are little changed. Handle fell by less than one percent (.1%), and revenue jumped 10%.
FanDuel and DraftKings dominate the market
FanDuel and its partner Valley Forge Casino remained the No. 1 sportsbook with $225.6 million in bets while Meadows Casino with DraftKings pulled in $157.7 million. Combined, they controlled 67% of the statewide action.
When it comes to handle, after the Top 2 sportsbooks, the obvious sportsbooks followed. BetMGM came in third with $44.1 million followed by Caesars ($29.5 million) and Barstool ($26.2 million).
But when it comes to Pennsylvania sports betting revenue the relatively smaller books made an impression. BetParx was the third most profitable sportsbook in April with $1.1 million from just $15.1 million in handle. BetRivers came in fourth with $1 million followed by Barstool.
