Pennsylvania June Sports Betting Sees 15% Revenue Increase

Spread the Word:

Pennsylvania sports betting resisted a summer slide by reporting a 15% month-on-month revenue increase to $42.5 million in the month of June. The last month was the second consecutive month witnessing a continuous decline in handle, including online betting.

According to the latest numbers released Monday by the Pennsylvania Gaming Control Board (PGCB), the state’s sportsbooks took in $420.2 million in total wagers, representing a 6.1% decline from May’s $447.46 million. However, the last month’s handle was a whopping gain of 372.1% from June 2020 when the Keystone State had seen $89 million in sports betting handle amid the peak of the coronavirus.

Pennsylvania sports betting was at its highest point – in terms of the monthly handle – when the PGCB posted its best figures ($615.3 million) in January.

Mobile betting accounted for 90.3% of the total handle in June.

Revenue Details

Despite the two consecutive months of declining handles, gross sports betting revenue remained the shiny side of Pennsylvania sports betting for the second straight month.

After dishing out $8.3 million in promotional credits, Keystone State’s sportsbook posted $34.2 million as taxable revenue, which was 23.4% higher than May’s $27.74 million, and up 413.6% from what the PA sportsbooks had posted during the same period last year.

The increased revenue was due to a healthy hold rate, with PA sportsbooks holding 10.1% in June, compared to 8.4% from May.

The overall activity allowed the state to generate $12.3 million in taxes, as per the June report.

Best Fiscal Year for PA Sports Betting

It was a record fiscal year for the state’s sportsbooks since Pennsylvania sports betting launched in Nov. 2018. In FY 2020/2021, the Keystone State’s books had posted a record $5.6 billion in handle and little more than $440 million in revenue, with the state generating over $105 million in tax.

In contrast, the state had posted $2.5 billion in FY 2019/2020 and $163.3 million in revenue. The first fiscal year – from the Nov. 2018 launch to June 2019 – had brought in just $244.6 million in handle, with a taxable revenue of $21.7 million.

The Keystone State levies the highest tax on sports betting revenue at 36%, and the proceed from the industry goes into the general fund.

Who Led Pennsylvania Sports Betting in June?

Nearly seven months after launching retail sports betting, online betting went live in the state, which has defined the trend since. The majority of the bets – or 90% – are placed digitally in Pennsylvania.

When it comes to individual performance, FanDuel led the market by improving its position in July. The New York-based operator took in $162.5 million, or nearly 40% of total bets placed in Pennsylvania in June. In May, FanDuel’s handle share was 36% of the total market.

The June figure was the highest market share of FanDuel – which partners with Valley Forge Casino in the state – since Aug. 2020. The operator posted $19.7 million in revenue.

DraftKings, A Distant Second in PA Market

DraftKings was a distant second in the Pennsylvania sports betting market, with a 21% market share, slightly falling from May’s 23%.

The Boston-based operator also lagged behind in hold at 7.5% compared to FanDuel, which saw a better than average 12.2% hold. The slim hold percentage led DraftKings to a 15% share of statewide revenue for the month.

For the first time, BetMGM scaled up to claim the third position for the Pennsylvania sports betting market, thanks to its 8.9% of handle share, good enough to push Barstool (with 8%) to the fourth position. However, Barstool generated a slightly higher revenue than BetMGM’s $3.2 million.

Rivers Casino was the next significant player in the PA market as it drew roughly 10% of the handle share through its two partners – BetRivers and SugarHouse.

Other PA operators – including Caesars, Betway, Unibet, and TwinSpires – took the remaining chunks of the pie.

Related News

November 20, 2019

Pennsylvania Charitable Gaming Laws

Pennsylvania allows qualified charities to conduct Bingo and to hold small games of chance, which are defined to include punchboards, daily drawings, raffles and pull-tabs. Other illegal gambling games, specifically […]

read more
October 17, 2020

Pennsylvania Online Gambling Revenue Hit Record Highs in August

After months of inactivity, Pennsylvania’s online gambling industry has resumed its record-setting pattern in August with $55.9 million of revenue. Online gambling in the state marked its first year in […]

read more
FanDuel Sportsbook PA
April 19, 2021

Pennsylvania Sports Betting Resumes Success With March Handle

Normalcy returned to Pennsylvania sports betting which continued its rising trend in March after a temporary dip in February. According to the monthly report released Thursday by the Pennsylvania Gaming […]

read more
Negative Pennsylvania Sportsbook Revenue
June 20, 2021

Pennsylvania Sports Betting Tops $5bn Handle in 11 Months

Though receding tides of Pennsylvania sports betting resulted in a 7% decline, May pushed the yearly handle to the $5 billion mark. Still, there’s one month left in the fiscal […]

read more
FanDuel Sportsbook in PA
May 22, 2021

Pennsylvania Sports Betting Fares Better with $479M Handle in April

Pennsylvania sports betting also witnessed a declining trend in April, reporting a 14% month-on-month decrease to $479 million for the month. However, amid a traditional spring slump, the Pennsylvania sportsbooks […]

read more
FanDuel Sportsbook PA
August 23, 2021

Pennsylvania Sportsbooks in a Summer Slump With 27% Handle Decline

Pennsylvania sportsbooks are the latest to bear the brunt of July – the slowest month of the sporting calendar – which saw handle free falling to more than 27%. According […]

read more
Pennsylvania Lottery
August 5, 2021

Pennsylvania Lottery Sees Record $1.3B Profit This Fiscal Year

The Pennsylvania Lottery has defied the pandemic by generating record-breaking profits of over $1.3 billion for the fiscal year that ended this June. The previous record was made in the […]

read more
June 13, 2019

SugarHouse Sportsbook First Online Betting App to Launch in Pennsylvania

Pennsylvania gambling industry continued its evolution on May 31st when the launch of ushered in a new era of online sports betting across the Keystone State. The online/mobile wing of […]

read more
Parx casino Pennsylvania
August 26, 2021

Pennsylvania Casinos Set Record $423M Gaming Revenue in July

Pennsylvania gaming industry generated more than $423 million in July, the highest revenue total since the first legal casino bet was wagered in the state in 2006. The latest gross […]

read more
independence national historical park
December 22, 2020

Pennsylvania Sports Betting Handle Plunges in November

Pennsylvania has failed to continue its record-setting sports betting trend in November with a handle of $492 million, a 6.4% drop from October’s figure. According to figures released last Wednesday […]

read more
Parx casino Pennsylvania
June 7, 2021

Pennsylvania Casinos Lose Legal Battle Against Lottery Over Online Offerings

The Pennsylvania Lottery has recently won a legal battle against the state’s seven casinos trying to shut down the lottery’s online games. While rejecting the lawsuit filed by casino owners, […]

read more
PlayPause mobile
December 31, 2020

Conscious Gaming Launches Self-Exclusion Tool in Pennsylvania

Pennsylvania will become the first jurisdiction to deploy a national gambling self-exclusion tool for responsible gaming in the US. The development unfolded on Wednesday when Conscious Gaming and the Pennsylvania […]

read more

Stay Updated & Receive Exclusive Offers

Be the first to know when new states legalize online gambling and gain access to exclusive casino and sports betting promotional offers.