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In one of the biggest months in the sports calendar, sports operators in the Keystone State cashed in on handle and revenue records in November.
The Pennsylvania Gaming Control Board reported that Pennsylvania sportsbooks recorded $990.6 million in total bets and $125.4 million in revenue. It broke October’s record for handle.
Pennsylvania sports betting handle displayed a month-over-month jump of 2.3% and a year-over-year increase of 5.9%.
November sports betting at a glance
- Handle: $990.6 million (2.3% MoM increase; 5.9% YoY increase)
- Revenue: $125.4 million (36.6% MoM increase)
- Adjusted Gross Revenue (taxable): $98.3 million (27.5% YoY increase)
- Hold: 12.7% (up from 9.5% in September)
- Percent of bets placed online: 95.6%
- Promotional credits: $27.1 million
- September sports betting tax revenue: $35.4 million
- State and local entities tax revenue: $2 million
- Top sports betting app by handle: FanDuel Sportsbook with $372.9 million
- Top sports betting app by revenue (taxable): FanDuel with $58.4 million
FanDuel’s staggering numbers
FanDuel Sportsbook, once again, leads the market in both handle and revenue, which isn’t surprising at this point. However, the pure dominance of the operator is what really sticks out.
The operator controlled 37.6% of the market share, which increased from 36.9% in October. DraftKings Sportsbook was the next closest at 30.2% of market share, which actually decreased from 31.0% last month.
FanDuel’s stranglehold on the market brought in $58.4 million in revenue, followed by DraftKings Sportsbook at $31.9 million.
FanDuel continues to pull away from the pack, leading in both key categories comfortably.
BetMGM reclaims No. 3 spot
For three straight months, Fanatics Sportsbook has gotten the better of BetMGM, finishing third in handle. In November, BetMGM Sportsbook got the spot back.
BetMGM produced $63.5 million in handle compared to Fanatics’ $62.2 million. Fanatics did get the edge in revenue, posting $7.6 million to BetMGM’s $6.2 million.
The two operators are likely to battle it out for the third spot for months to come.
No more ESPN BET
November was the last full month of ESPN BET, which is now switching to theScore Bet as of this month.
PENN Entertainment ended its partnership with ESPN because it was not able to gain significant market share. It only generated 4.1% share last month.
The company has chosen to launch its own brand. All bets and account balances should have transferred over automatically for customers.
