Though it wasn’t a record-breaking month, sports betting operators showcased a strong December. The Pennsylvania Gaming Control Board (PGCB) reported $925.6 million in total bets last month.
PA online sportsbooks delivered all-time highs in October and November, producing $829 million and $934.1 million in handle, respectively. Operators did make history by recording $72.5 million in gross revenue, a 462% month-over-month increase and a 32.8% year-over-year jump.
PlayPennsylvania Managing Editor, Chris Imperiale, said:
“The Pennsylvania sports betting market keeps on producing quality showings. Even though the mature market didn’t post another new overall handle record, it came close to matching last month’s mark. Sportsbooks accepted over $925 million in total bets in December, coming up about $8 million shy of November’s record. Last month endured a slight dropoff, however, it was more than a 22% jump up from December 2022. NFL betting is of course generating a lot of the action again, but the college football bowl season and the Philadelphia 76ers’ solid start to the year certainly contributed, as well. With less football available in January, the market could start to see some slower months moving forward.”
December 2023 numbers for Pennsylvania sports betting
💰 Handle: $925.6 million (0.9% MoM decrease; 22.6% YoY increase)
💸 Revenue: $98.1 million (100% MoM increase; 37.8% YoY increase) / Adjusted Gross Revenue (taxable): $72.5 million
👐 Hold: 10.6% (up from 5.3% last month)
💻 Percent of bets placed online: 94%
🎁 Promotional credits: $25.6 million
🧾 December sports betting taxes: $24.6 million
🏢 State and local entities: $1.5 million
📱 Top sports betting app by handle: FanDuel Sportsbook PA with $394.4 million
📱 Top sports betting app by revenue: FanDuel Sportsbook PA with $46.4 million
Quick analysis from November PA sports betting figures
- Despite not breaking a handle record for a third straight month, PA sportsbooks recorded $98.1 million in revenue and $72.5 million in gross earnings after promotional credits. Both categories set new highs in Pennsylvania, mostly because of an impressive 10.2% hold.
- ESPN Bet PA delivered nice results in the Keystone State last month. Being the first full month of operation, the new sportsbook generated $82.6 million in total bets, which finished third behind FanDuel and DraftKings Sportsbook PA. However, since ESPN Bet is still just getting its feet wet, it offered more than $8 million in promotions credits, leaving the operator with just $531,311 in gross revenue. While its handle is trending up, it’s going to take time before ESPN Bet starts making significant revenue.
- It’ll be interesting to see what January has in store for PA sportsbooks. Last year, January actually performed better ($772.3 million) than December ($754.8 million). The NFL playoffs, along with some NBA betting, will carry the January handle this year. Could total bets remain around $900 million or will they drop off into the 700s? It’ll be a good barometer to see to what degree the market fully matures, if at all.
PA sports betting handle & revenue by operator December 2023
| Licensee | Online Brand | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|---|
| Valley Forge | FanDuel | $394,378,356 | $46,434,656 | 11.8% | $14,107,552 |
| Hollywood Meadows | DraftKings | $235,749,519 | $25,032,257 | 10.6% | $6,918,668 |
| Hollywood Penn National | Barstool | $82,586,501 | $8,551,857 | 10.4% | $191,272 |
| Hollywood Morgantown | BetMGM | $52,015,254 | $5,473,500 | 10.5% | $1,315,901 |
| Harrah's Philadelphia | Caesars | $40,961,871 | $1,820,514 | 4.4% | $482,239 |
| Rivers Pittsburgh | BetRivers | $33,030,629 | $3,158,164 | 9.6% | $823,972 |
| Rivers Philadelphia | PlaySugarHouse | $25,868,223 | $1,485,296 | 5.7% | $390,200 |
| Parx | betParx | $24,518,653 | $2,573,871 | 10.5% | $804,422 |
| Hollywood York | PointsBet | $12,485,311 | $1,128,186 | 9.0% | $210,577 |
| Live Philadelphia | Betway | $7,977,662 | $761,396 | 9.5% | $274,102 |
| Mohegan Pennsylvania | Unibet | $7,323,763 | $500,343 | 6.8% | $160,655 |
| Wind Creek | Wind Creek | $1,877,732 | $233,923 | 12.5% | $83,002 |
| Live Pittsburgh | $1,605,735 | $152,849 | 9.5% | $55,026 | |
| South Philadelphia Race & Sportsbook | $1,588,700 | $246,679 | 15.5% | $88,805 | |
| Presque Isle Downs | $1,459,868 | $350,184 | 24.0% | $126,066 | |
| Mohegan Lehigh Valley | $1,259,135 | $182,313 | 14.5% | $65,633 | |
| Mount Airy | Fox Bet | $827,378 | ($1,739) | -0.2% | ($626) |
| Parx Shippensburg | $56,078 | $13,483 | 24.0% | $4,854 | |
| Parx Malvern | - | - | - | - | |
| Total | $925,570,368.39 | $98,097,732.35 | 10.6% | $26,102,320.69 |
