PA Sportsbook Handle Increased Nearly 20% Over 2023, Tops $30 Billion Lifetime

Written By Corey Sharp on June 18, 2024
Philadelphia Phillies Brandon Marsh, right, and Trea Turner. Despite being a mature market, Pennsylvania sports betting handle increased 19.4% year-over-year in May, and topped $30 billion lifetime.

The sports calendar slowing down is starting to affect handle across the country, including the Keystone State. The Pennsylvania Gaming Control Board reported $591.6 million in May total bets, which is the lowest output of the year so far. Though, a major milestone was reached. Lifetime handle surpassed $30 billion.

PA online sportsbook handle decreased 8.4% month-over-month but increased 19.4% year-over-year. Sportsbooks also recorded a strong 10.4% hold percentage, translating to $61.7 million in revenue, which are increases of 4.4% and 7.3% from last month and last year, respectively.

PlayPennsylvania Managing Editor, Dave Briggs, said:

“We’re in the dog days of summer in terms of sports betting, so the declining numbers relative to the fall and winter months are to be expected. The good news is a nearly 20% increase when compared to May of 2023 shows online sports betting continues to trend up in Pennsylvania.

“Also, May was notable for an incredible milestone — $30 billion in lifetime sports betting handle is an incredible number.”

May 2024 numbers for Pennsylvania sports betting

💰 Handle: $591.6 million (8.4% MoM decrease; 19.4% YoY increase)

💸 Revenue: $61.7 million (4.4% MoM increase; 7.3% YoY increase) / Adjusted Gross Revenue (taxable): $44.2 million

👐 Hold: 10.4% (up from 9.1% last month)

💻 Percent of bets placed online: 94.1%

🎁 Promotional credits: $17.7 million

🧾 May sports betting taxes: $15.9 million

🏢 State and local entities: $884,257.06

📱 Top sports betting app by handle: FanDuel Sportsbook PA with $244.7 million

📱 Top sports betting app by revenue: FanDuel Sportsbook PA with $31.4 million

Quick analysis from May PA sports betting figures

  • Despite the reduction in May handle, PA online sportsbooks are still surging in the Keystone State, as evidence by the 19.4% increase from last year. While Pennsylvania is considered a mature sports betting state, last month was the state’s best May ever. May 2023 from May 2022 represented only a 0.5% handle increase. It’s clear, that this year, despite the calendar winding down, people are still betting on NBA and MLB action.
  • Fanatics Sportsbook was supposed to be the new and up-and-coming platform to hit the sports betting market. However, the new operator is struggling to gain ground in the state. Fanatics finished seventh in handle, producing $19.3 million, while capturing only 3.3% market share. It is a little better than the 3.2% market share it acquired in April. While Fanatics technically improved in May, it’s yet to make much of an impact in the market.
  • ESPN BET Sportsbook lost even more market share in PA last month, recording just 5.5%. BetMGM passed ESPN in handle for the first time since October 2023. There has been pressure mounting on PENN Entertainment’s top investors to improve the online sports betting vertical of the business. ESPN has relinquished market share in every month since launching last November. A lot will be riding on the operator come football season.

PA sportsbook handle by operator in May 2024

LicenseeOnline BrandHandleRevenueHoldTaxes
Valley ForgeFanDuel$244,656,109$31,384,84112.8%$8,222,850
Hollywood MeadowsDraftKings$164,575,068$15,214,9559.2%$3,959,873
Hollywood MorgantownBetMGM$37,128,901$3,162,1478.5%$738,797
Hollywood Penn NationalESPN BET$32,602,001$3,244,34210%$807,252
Rivers PittsburghBetRivers$25,915,829$2,058,8787.9%$544,513
Harrah's PhiladelphiaCaesars$21,575,7071,038,0154.8%$273,069
Hollywood YorkFanatics$19,312,931$2,164,55611.2%$305,683
Rivers PhiladelphiaPlaySugarHouse$16,029,290$1,541,9959.6%$485,297
ParxbetParx$14,356,714$1,297,9399%$372,916
Live PhiladelphiaBetway$7,622,170$6,3930.1%$2,302
Mohegan PennsylvaniaUnibet$2,111,100$97,8304.6%$35,219
Wind CreekWind Creek$1,385,210$55,2124%$19,876
Live Pittsburgh$1,253,514$51,2744.1%$18,459
South Philadelphia Race & Sportsbook$1,229,545$152,02912.4%$54,731
Mohegan Lehigh Valley$945,571$73,1837.7%$26,346
Mount AiryFox Bet$732,612$73,95610.1%$26,624
Presque Isle Downs$437,002$65,47415%$23,571
Parx Shippensburg$43,251($2,083)-4.8%($750)
Total$591,912,627$61,680,93610.4%$15,916,627
Photo by Matt Slocum / AP Photo
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Corey Sharp

Corey Sharp is the Lead Writer at PlayPennsylvania bringing you comprehensive coverage of sports betting and gambling in Pennsylvania. Corey is a 4-for-4 Philly sports fan and previously worked as a writer and editor for the Philadelphia Inquirer and NBC Sports Philadelphia.

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