As the sports calendar is winding down for the summer, PA online sports betting apps are starting to feel the effects. In figures released by the Pennsylvania Gaming Control Board (PGCB), online operators generated $495.6 million in total bets in May.
Total bets dropped 13.4% from last month and registered a 0.45% increase year over year.
PlayPennyslvania Managing Editor, Chris Imperiale, said:
“Pennsylvania sports betting saw a dip in May even though both the NBA and NHL playoffs were ongoing. The Philadelphia 76ers’ run into the second round helped produce $495.6 million in handle in May, down around $75 million compared to April. This figure was steady (up 0.5%) from a year ago in May 2022. With both winter sports now complete, expect even slower months ahead in the PA market before NFL and football wagering return.”
PA sportsbooks recorded $57.5 million in total revenue for May.
May 2023 numbers for Pennsylvania sports betting
Figures from the PGCB:
- Handle: $495.6 million (13.4% MoM decrease; 0.45% YoY increase)
- Revenue: $57.5 million (11% MoM increase; 20.3% YoY increase) / Adjusted Gross Revenue (taxable): $41.1 million
- Hold: 11.6% (up from 9.1% from last month)
- Percent of bets placed online: 92.9%
- Promotional credits: $16.4 million
- May sports betting taxes: $14.8 million
- State and local entities: $740,722.47
- Top sports betting app by handle: FanDuel Sportsbook PA with $194.4 million
- Top sports betting app by revenue: FanDuel Sportsbook with $29.4 million
Quick analysis from May PA sports betting figures
- Despite coming up $75 million short of April’s handle, PA sportsbooks collected $41.1 million in gross revenue in May compared to just $37 million in April. Operators reported a better hold percentage of 11.6% in May to 9.1% in April.
- Barstool Sportsbook continues to decline in handle among PA sportsbooks. In May, BetRivers Sportsbook recorded $22.8 million in handle, surpassing Barstool, which recorded $21.5 million, for the first time ever in PA. Barstool has given way to BetMGM, Caesars and now BetRivers in recent months. With more sportsbooks coming, such as bet365 and possibly Fanatics, Barstool must step up in order to compete with the second tier of PA sportsbooks.
- FanDuel once again dominated the PA market as it recorded a hold percentage of 15.1%. The operator has not posted a hold percentage that high since September 2022 (15.7%). FanDuel took in more revenue in May than April ($28 million), even though it posted $31.2 million less in May handle.
PA sports betting handle & revenue by operator May 2023
| Licensee | Online Brand | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|---|
| Valley Forge | FanDuel | $194,395,538 | $29,446,831 | 15.1% | $8,116,955 |
| Hollywood Meadows | DraftKings | $133,219,212 | $12,709,504 | 9.5% | $3,185,741 |
| Hollywood Morgantown | BetMGM | $36,865,776 | $4,573,443 | 12.4% | $563,277 |
| Harrah's Philadelphia | Caesars | $26,846,893 | $1,154,366 | 4.2% | $241,028 |
| Rivers Pittsburgh | BetRivers | $22,718,317 | $2,205,899 | 9.7% | $527,822 |
| Hollywood Penn National | Barstool | $21,453,240 | $1,704,967 | 7.9% | $442,874 |
| Rivers Philadelphia | PlaySugarHouse | $17,562,871 | $1,001,519 | 5.7% | $331,536 |
| Parx | betParx | $15,482,600 | $1,538,685 | 9.9% | $486,335 |
| Hollywood York | PointsBet | $7,944,081 | $864,205 | 10.8% | $40,459 |
| Live Philadelphia | Betway | $4,988,589 | $713,427 | 14.3% | $256,834 |
| Mount Airy | Fox Bet | $4,406,645 | $347,604 | 7.8% | $118,351 |
| Mohegan Pennsylvania | Unibet | $4,195,554 | $416,292 | 9.9% | $106,088 |
| South Philadelphia Race & Sportsbook | $1,337,864 | $205,764 | 15.3% | $74,075 | |
| Wind Creek | Wind Creek | $1,290,763 | $144,545 | 11.2% | $51,371 |
| Mohegan Lehigh Valley | $1,034,543 | $271,121 | 26.2% | $97,603 | |
| Live Pittsburgh | $884,637 | $113,539 | 12.8% | $40,874 | |
| Presque Isle Downs | $614,055 | $65,683 | 10.7% | $23,646 | |
| Parx Malvern | $323,466 | $55,194 | 17.0% | $19,870 | |
| Parx Shippensburg | $20,715 | $1,156 | 5.6% | $416 | |
| Total | $495,585,360 | $57,533,744 | 11.6% | $14,797,653 |
