Pennsylvania sportsbooks continued their to-be-expected spring slump. PA sports bettors wagered $447.5 million in May according to figures released by the Pennsylvania Gaming Control Board. It’s a 6% decrease in handle from April. PA sportsbooks reported $37.4 million in revenue, a $1.4 million increase from last month.
As has been the trend since the birth of sports betting apps in PA, most (91%) wagers were placed online. Sportsbooks’ win percentage/hold was 8.4%, a jump from 7.5% in April.
May pushed Pennsylvania sportsbooks over the $5 billion mark for wagers in the fiscal year with one month left.
Pennsylvania sportsbooks gave $9.7 million in promotional credits in May. Promos reduced sportsbooks’ taxable revenue to $27.7 million. The state pulled in $9.4 million in taxes from sports betting in May with an additional $555K headed to local entities.
FanDuel Sportsbook continues to hold the top spot in the Pennsylvania sports betting industry. It was the far-and-away leader for handle ($163.5 million) and revenue ($17.9 million). Through its partnership with Valley Forge Casino, FanDuel accounted for about 40% of all online bets.
Pennsylvania sportsbooks versus other states
At first glance, PA sportsbooks’ 477% YoY increase in handle seems stunning. However, last May the sports calendar was still basically bare due to the coronavirus. Pennsylvania online sportsbooks started launching in June 2019. It’s a toddler. It’s going to have…shall we say…behavior fluctuations.
How did other states’ sports figures measure up in May? Yesterday, New Jersey reported one of its best months with $814.3 million in handle and $52.9 million in revenue. Handle in Michigan for May was $257.7 million. Nevada has yet to report May figures.
Illinois just released April sports betting numbers. Illinois reported a handle of $537.2 million in April, beating PA’s April handle of $479.4 million.
FanDuel and DraftKings top PA online sportsbook operators
Different month, same story for who is the leader in PA sports betting. FanDuel online sportsbook finished first again for online handle ($160.9 million) and revenue ($14.2 million after promos).
DraftKings held on to the No. 2 spot with about $100 million in wagers and $3.9 million in revenue.
Barstool gets out of the red in May
In April, Barstool Sportsbook had a gross revenue of $2.6 million, but after giving out $2.7 million in promos, it reported a negative taxable revenue (-$102,568). Barstool got out of the red in May, reporting a taxable revenue of $1.6 million.
Barstool Sportsbook remains in distant third place for handle and revenue in PA. May handle was about $43.6 million and gross revenue was $2.8 million.
PA sports betting handle & revenue by operator in May 2021
| Licensee | Online Brand | Total Handle | Total Revenue | Online Handle | Online Revenue | Retail Handle | Retail Revenue |
|---|---|---|---|---|---|---|---|
| Valley Forge | FanDuel | $163,461,947 | $17,944,300 | $160,874,459 | $17,562,981 | $2,587,488 | $381,319 |
| Meadows | DraftKings | $101,351,223 | $5,239,561 | $99,981,524 | $5,045,732 | $1,369,699 | $193,828 |
| Hollywood | Barstool | $44,977,559 | $2,989,124 | $43,612,394 | $2,814,637 | $1,365,165 | $174,487 |
| Hollywood Morgantown | BetMGM | $32,448,710 | $2,150,154 | $32,448,710 | $2,150,154 | $0 | $0 |
| Rivers Pittsburgh | BetRivers | $24,525,389 | $1,849,979 | $19,137,531 | $1,209,040 | $5,387,858 | $640,939 |
| Rivers Philadelphia | SugarHouse | $18,862,912 | $1,869,193 | $12,186,094 | $832,368 | $6,676,817 | $1,036,825 |
| Parx | Parx | $17,458,695 | $1,848,840 | $11,095,335 | $1,052,011 | $6,363,360 | $796,829 |
| Mount Airy | Fox Bet | $14,747,293 | $979,704 | $14,165,955 | $964,405 | $581,338 | $15,299 |
| Mohegan Sun | Unibet | $6,556,344 | $473,745 | $5,544,408 | $390,170 | $1,011,936 | $83,575 |
| Harrah's | Caesars | $6,250,181 | $312,903 | $2,689,109 | -$65,823 | $3,561,072 | $378,726 |
| Presque Isle | TwinSpires | $5,403,729 | $562,770 | $3,158,288 | $120,582 | $2,245,441 | $442,188 |
| Live Philadelphia | N/A | $4,269,735 | $529,581 | $0 | $0 | $4,269,735 | $529,581 |
| Wind Creek | Wind Creek | $3,166,123 | $170,269 | $2,504,946 | $101,781 | $661,178 | $68,488 |
| South Philly OTB | N/A | $2,203,667 | $250,812 | $0 | $0 | $2,203,667 | $250,812 |
| Lehigh OTB | N/A | $1,096,962 | $169,648 | $0 | $0 | $1,096,962 | $169,648 |
| Live Pittsburgh | N/A | $684,558 | $78,732 | $0 | $0 | $684,558 | $78,732 |
| Total | $447,465,027 | $37,419,313 | $407,398,753 | $32,178,038 | $40,066,274 | $5,241,275 |
PA sports betting handle, revenue, taxes on the rise
Here is a look at a fiscal year breakdown of the handle, revenue and taxes for sports betting in Pennsylvania.
Fiscal year 2018/2019
- Handle: $244.6 million
- Taxable Revenue: $21.7 million
- State tax (34%): $699,319
- Local share (2%): $41,136
Fiscal year 2019/2020
- Handle: $2.5 billion
- Revenue: $163.3 million
- Taxable Revenue: $135.5 million
- State tax: $38.6 million
- Local share: $2.3 million
Fiscal year 2020/2021 (July to present)
- Handle: $5.2 billion
- Revenue: $398.2 million
- Taxable Revenue: $274.6million
- State tax: $93.7 million
- Local share: $5.5 million
Where do PA sports betting taxes go?
Pennsylvania levies the highest tax on sports betting revenue at 36%.
The money collected from taxes from sports betting goes into the general fund; 34% is a state tax and 2% is a local share assessment.
May fantasy sports figures
Fantasy operators reported about $2 million in revenue in May. DraftKings and FanDuel account for nearly all of the DFS revenue in PA.
Lead Image: FanDuel Sportsbook at Live! Casino Philadelphia by Katie Kohler.
