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August is not typically a popular month of sports betting. However, the return of preseason football gets the juices flowing for bettors, as operators cashed in the best August ever.
The Pennsylvania Gaming Control Board reported that operators produced $515.4 million in handle and $66.5 million in revenue. Both categories are all-time highs for the month since sports betting launched back in 2019. The vertical also crossed $40 billion in lifetime handle in the process.
The fall is shaping up to be a exciting time for online sportsbooks as the defending Super Bowl champion Eagles start the regular season and the Phillies are gearing up for another deep run in Red October.
Pennsylvania August sports betting at a glance
- Handle: $515.4 million (24.9% MoM increase; 6.2% YoY increase)
- Revenue: $66.5 million (27.4% MoM increase; 46.5% YoY increase)
- Adjusted Gross Revenue (taxable): $49.2 million
- Hold: 12.9% (up from from 12.6% last month)
- Percent of bets placed online: 95.1%
- Promotional credits: $17.4 million
- August sports betting tax revenue: $16.7 million
- State and local entities tax revenue: $983,021
- Top sports betting app by handle: FanDuel Sportsbook with $171.5 million
- Top sports betting app by revenue: FanDuel with $24.4 million
Lifetime handle crosses major milestone
Pennsylvania took its first legal sports bets in 2018, which has culminated into $40.2 million in lifetime handle for the vertical.
FanDuel and DraftKings Sportsbook are the only two operators that have generated more than $10 billion in lifetime handle. The former is up to $15.4 billion in handle as the latter sits at $10.1 billion.
Hollywood Morgantown, which has had PointsBet and Fanatics Sportsbook as partners, is third with $2.8 billion in lifetime handle.
August sets up fall whirlwind
If August was any proof, the fall in Pennsylvania should be a wild one. The month of August produced the best handle and revenue of any August to date.
For perspective, handle never crossed $400 million in August prior to 2024. Totals are as follows:
- August 2022: $363.4 million
- August 2023: $393.0 million
- August 2024: $485.3 million
Handle increased at a 6.2% from last August, and a more impressive 31.1% from 2023. In 2024, handle reached as high as $935.5 million in November. Operators could be knocking on the door for a $1 billion this fall.
Fanatics surpasses BetMGM
FanDuel and DraftKings are market leaders in Pennsylvania. However, there’s been a changing of the guard for the third spot.
Fanatics Sportsbook inched ahead of BetMGM Sportsbook for the first time ever by posting $41.3 million and $35.4 million, respectively, in handle.
BetMGM had held the spot behind the two market leaders for years. Fanatics is proving itself to be a worthy contender after FanDuel and DraftKings.
Football season will be the ultimate litmus test for all operators.
PA sportsbook handle by operator in August
| Licensee | Online Brand | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|---|
| Valley Forge | FanDuel | $171,735,757 | $24,432,557 | 14.2% | $6,751,818 |
| Hollywood Meadows | DraftKings | $147,220,314 | $18,705,179 | 12.7% | $4,418,688 |
| Hollywood York | Fanatics | $41,333,350 | $5,350,857 | 12.9% | $1,314,892 |
| Hollywood Morgantown | BetMGM | $35,409,131 | $4,565,738 | 12.9% | $1,161,793 |
| Presque Isle Downs | bet365 | $26,812,226 | $2,279,096 | 8.5% | $515,192 |
| Hollywood Penn National | ESPN Bet | $24,326,707 | $3,117,203 | 12.8% | $1,004,233 |
| Rivers Pittsburgh | BetRivers | $20,342,603 | $2,567,250 | 12.6% | $786,062 |
| Harrah's Philadelphia | Caesars | $18,266,162 | $1,425,830 | 7.8% | $350,611 |
| Parx | betParx | $12,174,753 | $1,652,131 | 13.6% | $568,243 |
| Rivers Philadelphia | PlaySugarHouse | $9,839,525 | $1,130,776 | 11.5% | $352,334 |
| Live Philadelphia | Betway | $4,214,536 | $689,140 | 16.4% | $248,090 |
| Live Pittsburgh | $986,617 | $210,684 | 21.4% | $75,846 | |
| Mohegan Lehigh Valley | $958,338 | $89,977 | 9.4% | $32,392 | |
| Mohegan Pennsylvania | $958,338 | $132,659 | 20.2% | $47,757 | |
| Wind Creek | Wind Creek | $597,693 | $116,497 | 19.5% | $41,939 |
| Mount Airy | $441,763 | $40,197 | 9.1% | $14,471 | |
| Parx Shippensburg | $129,718 | $27,815 | 21.4% | $10,013 | |
| Total | $515,446,826 | $66,533,586 | 12.9% | $17,694,375 |
