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 fared relatively better than the other markets like Indiana and Michigan, which saw 25% and 26% decline, relatively.
According to the monthly figures released Tuesday by the Pennsylvania Gaming Control Board (PGCB), the state’s sportsbook reported total sports betting handle of $479.4 million last month, shrinking 14.4% from March’s $560.3 million. However, April 2021’s handle was a whopping 941.8% increase year-over-year. In April 2020, the coronavirus had reduced Pennsylvania sports betting handle to $46 million due to the pandemic-led shutdowns of casinos and sporting activities.
Pennsylvania sports betting was at its zenith when it reported $615.3 million in handle in January, the highest monthly handle record since online sports betting launched in May 2019. Pennsylvania sports betting had also topped the $500 million mark during the first four months of 2021.
Mobile bets accounted for more than 90% of the total sports betting activity in Pennsylvania in April.
Operator revenue increased 13x in April 2021 to $36 million from what the sportsbook generated during the same period last year. However, it was still 12% down month-on-month.
Pennsylvania sportsbooks ran a hold rate of 7.5% in April, leading the state to generate $8.9 million in taxes. The sportsbooks doled out $9.7 million in promotional credits in April, the lowest amount in promos since August 2020. The bonuses reduced the taxable revenue to $26.3 million, which was 10.4% down from March’s $29.35 million, and a whopping increase of 812% from April 2020.
According to the PGCB, the combined total revenue collected from all forms of gaming during April was a record $404.1 million, besting March’s $403.1 million. It was the second consecutive month, and the second time ever, that the Keystone State reported the combined revenue of more than $400 million.
Mobile Dominance Continues
Pennsylvania mobile sports betting continued its dominance with nearly 92% or $439 million was wagered online. However, it represented a 14.6% decline from March’s $514.3 million, but an incredible rise (854.2%) from April 2020’s $46 million, according to the official report.
Despite a month-on-month decrease, Pennsylvania sports betting’s mobile share in April (91.6%) remained unshaken from March’s 91.8%.
FanDuel Leads Pennsylvania Sports Betting
FanDuel remained the top Pennsylvania sportsbook, leading the Keystone State’s online sportsbooks through April with $167.6 million in the handle, and $13.7 million in revenue. The New York-based operator-which is partnered with Valley Forge Casino- accounted for 38% of all online bets in April.
DraftKings attracted the second-highest handle share at 22%, translating in $6.5 million in gross gaming revenue (GGR) and $5.5 million in net gaming revenue (NGR).
The top third was Barstool Sportsbook in Pennsylvania with a handle percentage of 12.2. Despite its diminished handle share, the sportsbook lavished more bonuses than FanDuel, leading to merely $150k in NGR.
BetMGM, a late entrant to the Pennsylvania sports betting market, grabbed a 6.9% market share, becoming the fourth-largest sportsbook in April. The digital arm of MGM Resorts International made $2.5 million in GGR, handed out $1.4 million in promos, and equaled $1.1 million in NGR.
BetRivers rounded out the top five with $2.2 million NGR.
Pennsylvania iGaming Numbers
For Pennsylvania online casinos, interactive slots saw a $1.752 billion handle in April, with $62.6 million in revenue, representing a 5.7% decrease from March’s $66.4 million in revenue that was extracted from the $1.754 billion handle.
The latest online casino app was Barstool Sports launched in early May. It is Pennsylvania’s 16th online casino.
Interactive banking table games generated $27.68 million in gross revenue, down 4.1% from March’s $28.9 million. April’s interacting banking tables reported $1.49 billion in the handle, representing a 1.6% decline from March’s $1.51 billion.
Last month’s table games GGR came in at $77.8 million, an increase of 9.1% from March’s $71.3 million. Retail slots handle registered $2.44 billion, up from March’s $2.41 billion.
Online poker witnessed Mount Airy/PokerStars generating $2.34 million in rake and tournament fees last month.
Pennsylvanian poker lovers have now three online poker sites to choose from after BetMGM launched BETMGM Poker and Borgata Poker last month. Before that, PokerStars was the sole online poker site operational in Keystone State.