$811.3 Million Handle Sets September Sports Betting Record In PA

Written By Corey Sharp on October 18, 2024 - Last Updated on October 22, 2024
Steelers fans cheering signify best September for PA sports betting revenue

September 2024 represented the best month for PA sportsbook operators regarding handle and revenue.

To no surprise, the start of football saw a massive bump for sportsbooks in Pennsylvania. The Pennsylvania Gaming Control Board (PGCB) reported on Thursday that operators generated $811.3 million in handle and $95.8 million in revenue last month.

PA sportsbook handle increased 11.7% year-over-year and 67.2% month-over-month.

Should PA online sportsbooks continue this type of performance through football season, it’ll certainly be a memorable one.

September 2024 totals for Pennsylvania sports betting

💰 Handle: $811.3 million (11.7% MoM increase; 67.2% YoY increase)

💸 Revenue: $95.8 million (110.5% MoM increase; 44.9% YoY increase) / Adjusted Gross Revenue (taxable): $53.5 million

👐 Hold: 11.8% (up from from 9.4% last month)

💻 Percent of bets placed online: 94.3%

🎁 Promotional credits: $42.3 million

🧾 September sports betting taxes: $19.3 million

🏢 State and local entities: $944,675 

📱 Top sports betting app by handle: FanDuel Sportsbook PA with $320.5 million

📱 Top sports betting app by revenue: FanDuel Sportsbook PA with $41.2 million

Quick analysis from September PA sports betting figures

ESPN BET continues downfall, slow start to football season

This is likely a make or break football season for ESPN BET, which has been subject to many sale rumors over the summer. The operator, owned by PENN Entertainment, will come under heavy fire should this performance continue.

ESPN BET had a chance to prove the doubters wrong this football season. No one expected it to compete with FanDuel or DraftKings. However, carving out a 4.1% market share last month isn’t what anyone had in mind, either. The operator’s share has dipped in nearly every month since launching last November.

Since April, there’s been a gradual decline since, according to the graph.

Sportsbooks display impressive hold rate

Hold rate is an important statistic that ultimately shows how much revenue operators make. September proved to be a terrific month for sportsbooks, and not so much for bettors.

With a full slate of NFL and college football, operators were able to hold at an 11.8% rate, the best September percentage to date. That led to $95.8 million in revenue before promotions. To put it in perspective, here are the following hold percentages for September:

  • 2023: 9.1%
  • 2022: 11.7%
  • 2021: 8.3%
  • 2020: 7.0%

The popularity of parlays over the last several years has led to operators increasing hold percentage.

bet365 PA comes back down to earth

The start of football season is a big month for all operators. Bet365 Sportsbook PA showed tremendous promise in August, placing fourth in handle with a 5.9% market share. It was the platform’s first full month in Pennsylvania.

In September, bet365 came back down to earth a bit. It ranked sixth in handle and dipped to 3.9% market share. As a new operator, it’s not all that surprising.

The operator displayed a great hold rate at 13.5%, which yielded $4.2 million in revenue. However, it distributed $6.5 million in promotions.

There will be peaks and valleys with every operator in a new state. Expect a more consistent output from bet365 once it gets its settled in the market.

PA sportsbook handle by operator in September 2024

LicenseeOnline BrandHandleRevenueHoldTaxes
Valley ForgeFanDuel$320,466,444$41,150,42912.8%$9,854,111
Hollywood MeadowsDraftKings$237,227,495$26,766,07111.3%$4,719,233
Hollywood MorgantownBetMGM$53,478,987$5,500,61910.3%$899,469
Hollywood YorkFanatics$34,109,082$4,000,48911.7%$300,205
Hollywood Penn NationalESPN BET$33,271,816$3,240,6359.7%$886,998
Presque Isle Downsbet365$31,586,412$4,248,51713.5%-$818,124
Rivers PittsburghBetRivers$28,072,846$2,475,2558.8%$692,383
Harrah's PhiladelphiaCaesars$25,063,318$2,370,6899.5%$689,771
ParxbetParx$19,096,969$2,515,33613.2%$835,086
Rivers PhiladelphiaPlaySugarHouse$14,851,382$1,593,58910.7%$508,981
Live PhiladelphiaBetway$7,250,535$1,218,50316.8%$438,662
Live Pittsburgh$1,622,514$198,80812.3%$71,571
Mohegan Lehigh Valley$1,569,388$190,98412.2%$68,754
Wind CreekWind Creek$1,380,296$54,0603.9%$19,462
Mohegan Pennsylvania$1,318,505$195,40914.8%$70,347
Mount Airy$850,260$77,0449.1%$27,736
Parx Shippensburg$67,737$19,11228.2%$6,880
South Philadelphia Race & Sportsbook0000
Total$811,283,986$95,815,54911.60%$20,907,773
Photo by Gene J. Puskar / AP Images
Corey Sharp Avatar
Written by
Corey Sharp

Corey Sharp is the Lead Writer at PlayPennsylvania bringing you comprehensive coverage of sports betting and gambling in Pennsylvania. Corey is a 4-for-4 Philly sports fan and previously worked as a writer and editor for the Philadelphia Inquirer and NBC Sports Philadelphia.

View all posts by Corey Sharp
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