Despite the sports calendar dwindling, sports betting in Pennsylvania isn’t slowing down, especially from last year. The drop-off from March and April, though, is to be expected.
The Pennsylvania Gaming Control Board (PGCB) reported that sportsbook operators produced $655.4 million in handle, and $76.1 million in revenue last month.
Sportsbooks dropped on a month-over-month basis by nearly 8%. However, operators increased year-over-year by 10.7%.
The Keystone State has had legal sports betting since 2018. Over nearly eight years, the market maturing would be expected. However, the industry continues to grow.
Pennsylvania May sports betting at a glance
- Handle: $655.4 million (8% MoM decrease; 10.7% YoY increase)
- Revenue: $76.1 million (54.7% MoM increase; 23.3% YoY increase)
- Adjusted Gross Revenue (taxable): $59.4 million
- Hold: 11.6% (up from from 8.7% last month)
- Percent of bets placed online: 95.4%
- Promotional credits: $16.6 million
- May sports betting tax revenue: $20.2 million
- State and local entities tax revenue: $1.2 million
- Top sports betting app by handle: FanDuel Sportsbook with $252.8 million
- Top sports betting app by revenue: FanDuel with $34.9 million
Fanatics rivals FanDuel in hold percentage
FanDuel is the clear market leader in Pennsylvania, far ahead of the pack in both handle and revenue. The operator also posts impressive hold percentages, too, mostly because of its same game parlays, which generates tons of action.
FanDuel posted a hold percentage of 13.8%, which led all online platforms. However, Fanatics Sportsbook recorded a rate of 13%, right behind FanDuel.
Fanatics has been ascending in the PA market since launching last year. The operator posted $43.2 million in handle, which finished fourth behind BetMGM ($50.0 million).
Fanatics is certain to give BetMGM a run for the third spot by the end of 2025.
ESPN BET market share decreases
All eyes have been on PENN Entertainment, who made a 10-year agreement with ESPN BET. However, both sides can opt out after three years, which would be in 2026.
ESPN BET market share was nearly 4.2% in May, which is a decrease from April. Market share results for the year are as follows:
- January: 4.8%
- February: 3.7%
- March: 4.2%
- April: 4.5%
- May: 4.2%
ESPN BET produced just $27.2 million in handle, slightly ahead of BetRivers ($24.9 million) and Caesars ($23.2 million). PENN and ESPN likely need to see better results to fully commit to the 10-year contract.
Fifth spot is up for grabs
The top four operators in the Keystone State have emerged as FanDuel, DraftKings, BetMGM and Fanatics. The fifth spot, however, is anyone’s game.
Over the last four months, bet365 Sportsbook has claimed the coveted No. 5 operator. Though, it has to stay on its toes with the operators behind it. There were three platforms in May that came right behind, which looked like:
- ESPN BET: $27.2 million
- BetRivers: $24.9 million
- Caesars: $23.2 million
While bet365 is in the driver’s seat, any one of these companies can pass over each other as 2025 progresses.
PA sportsbook handle by operator in May
| Licensee | Online Brand | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|---|
| Valley Forge | FanDuel | $252,777,920 | $34,893,082 | 13.8% | $10,221,179 |
| Hollywood Meadows | DraftKings | $168,899,416 | $19,569,271 | 11.6% | $5,654,076 |
| Hollywood Morgantown | BetMGM | $50,033,984 | $3,579,934 | 7.2% | $771,408 |
| Hollywood York | Fanatics | $43,202,104 | $5,595,570 | 13.0% | $1,024,738 |
| Presque Isle Downs | bet365 | $28,588,102 | $3,110,589 | 10.9% | $829,216 |
| Hollywood Penn National | ESPN BET | $27,174,510 | $3,010,118 | 11.1% | $945,363 |
| Harrah's Philadelphia | Caesars | $24,917,061 | $1,521,609 | 6.1% | $416,143 |
| Rivers Pittsburgh | BetRivers | $23,209,114 | $1,389,382 | 6.0% | $401,495 |
| Parx | betParx | $15,221,857 | $953,199 | 6.3% | $299,735 |
| Rivers Philadelphia | PlaySugarHouse | $11,138,610 | $1,172,703 | 10.5% | $370,018 |
| Live Philadelphia | Betway | $5,886,799 | $687,080 | 11.7% | $247,349 |
| Wind Creek | Wind Creek | $1,222,458 | ($17,839) | -1.5% | ($6,422) |
| Live Pittsburgh | $933,024 | $263,261 | 28.2% | $94,774 | |
| Mohegan Pennsylvania | $882,437 | $129,903 | 14.7% | $46,686 | |
| Mohegan Lehigh Valley | $757,415 | $142,903 | 18.9% | $51,445 | |
| Mount Airy | $465,050 | $48,520 | 10.4% | $17,467 | |
| Parx Shippensburg | $48,366 | $15,377 | 31.8% | $5,536 | |
| Total | $655,358,227 | $76,064,442 | 11.6% | $21,390,206 |
