PA Sportsbook Handle Generates $8 Billion During FY 2023/2024, A New Record

The Pennsylvania Gaming Control Board reported sportsbooks in the Keystone State generated $464.5 million in total June handle, which is the lowest output of the year, so far. However, operators crossed the $8 billion mark for the fiscal year, producing almost $1 billion more than FY 2022/2023.

The handle result for June is expected, with the NBA and NHL Finals and Stanley Cup, respectively, wrapping up, which just leaves a full slate of MLB games. Handle is expected to dip even further in July and August.

PA online sportsbook handle decreased 21.5% month-over-month. However, from last June, sportsbooks experienced an impressive 24.5% year-over-year increase.

PlayPennsylvania Managing Editor, Dave Briggs, said:

“On top of a fiscal-year record, combined handle at Pennsylvania sportsbooks has already surpassed $4 billion just in the first six months of 2024,” Briggs said. “That’s the fastest handle has ever hit that mark and bodes well for a new all-time record for the calendar year. We’re projecting total handle well in excess of last year’s record of $7.7 billion.”

June 2024 numbers for Pennsylvania sports betting

💰 Handle: $464.5 million (21.5% MoM decrease; 24.5% YoY increase)

💸 Revenue: $43 million (4.4% MoM increase; 7.3% YoY increase) / Adjusted Gross Revenue (taxable): $29.9 million

👐 Hold: 9.3% (down from 10.4% last month)

💻 Percent of bets placed online: 94%

🎁 Promotional credits: $13.1 million

🧾 May sports betting taxes: $10.2 million

🏢 State and local entities: $597,862.42

📱 Top sports betting app by handle: FanDuel Sportsbook PA with $181.1 million

📱 Top sports betting app by revenue: FanDuel Sportsbook PA with $21.5 million

Quick analysis from June PA online casino figures

• PA online sportsbooks produced nearly $8.2 billion in handle for the FY 2023/2024, which easily set a new record, for any 12-month period. That represents a 14% increase year-over-year. Despite Pennsylvania being one of the most mature markets in the US, the appetite for sports betting has increased, rather than slowed down, which is considered to be the more likely outcome. Pennsylvanians is a sports haven when it comes to the amount of professional and college teams in the state.
• FanDuel Sportsbook PA is still the unquestioned leader in the Keystone State. The operator posted a hold percentage of 11.9%. It’s the fourth time in six months its posted a double-digit percentage. FanDuel’s lifetime hold percentage is 9.9%, and another month or two of results exceeding that should raise it to 10%. BetPARX is the only other online platform with a lifetime hold above 9%.
• Fanatics Sportsbook PA finished outside the top five among handle. However, the operator posted an 11.1% hold percentage. It’s the second straight month it produced more than 10%. While the hold is picking up momentum for Fanatics, the operator needs more users to bet on the platform. It recently adjusted its promotional system, which now incentives bettors to earn more FanCash when placing a parlay bet. As FanDuel has displayed astronomical success with its same game parlays, Fanatics is placing a similar emphasis on parlay betting, which should help its hold even more moving forward.

PA sportsbook handle by operator in June 2024