Pennsylvania Sportsbooks in a Summer Slump With 27% Handle Decline

Spread the Word:

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 to official numbers released Wednesday by the Pennsylvania Gaming Control Board (PGCB), the state’s sportsbooks reported $304.4 million, down 27.6% from June’s $420.19 million. Though last month’s handle was an 84.7% gain from what Pennsylvania sportsbooks posted in July 2020, the year-over-year comparison is not an ideal indicator of the growth of the market as the whole of 2020 was eclipsed by the pandemic.

However, it is the first time since last August that the Pennsylvania sports betting reported a handle below $400 million.

Sportsbook revenue witnessed an even greater dip of 35.3% to $27.5 million despite a hold of 9%. The state drew $7.1 million in total taxes. Keystone State has one of the highest sports betting tax rates in the nation at 36%.

Mobile Sports Betting Remained Steady

Though Pennsylvania’s online sports betting numbers also saw a proportional decline, they remained steady relative to the overall market. In July, mobile sports betting accounted for 90.5% of the market, compared to 90.3% a month prior.

In July, Pennsylvania mobile sportsbooks posted $275.44 million, representing 27.4% from June’s $379.26 million. However, it was a 77.3% gain from last year’s $155.35 million.

While Pennsylvania sports betting witnessed a third straight month of decline in the mobile and overall handle, table games gross revenue shattered a monthly record, according to the PGCB.

FanDuel Remains No. 1 Despite Shrink

Despite witnessing a 4.2 drop in percentage, FanDuel remained no 1. operator, with 38% of the total market share. Through its partner Valley Forge Casino in King of Prussia, the New York-based operator posted $108.48 million in July handle, down from $164.8 million a month prior.

Though DraftKings increased 1.4 percentage – a phenomenal jump – it secured second place in the Pennsylvania market. The Boston-based sportsbook – through its partner, The Meadows – saw $67.2 million in July handle, compared to $87.5 million in June.

BetMGM secured third place in the market, with a 10.5% mobile handle share, a slight gain month-over-month.

Barstool’s handle of $23.4 million last month was the lowest since launch.

The Rivers casinos in Philadelphia and Pittsburgh – with BetRivers – posted a combined $32.82 million in last month’s handle, compared to $42.5 million in June.

Why Pennsylvania Sports Betting Handle Nosedived in July?

From July 2020 to July 2021, the handle saw an 87% increase. But July 2020 was an unprecedented month, with sporting activity just returned after months of pandemic-led closures.

This July was the coolest in terms of sports betting activity in the nation this year. But the summer slump – as the phase is known in US sports betting – affected all the states. Even New Jersey reported just $578.7 million in July handle.

According to Dustin Gouker, a sports analyst, this July could not engage Pennsylvanian bettors due to nationwide travel. Despite the fact that the bettors had the NBA Finals and the Olympics to bet on, the “people were occupied with family vacations and other summer activities,” Gouker said.

However, he added, sportsbook operators cannot wait for football season to ramp up.

Related News

November 21, 2023

Pennsylvania’s October Sports Betting Smashes Record Handle

Pennsylvania’s sportsbooks took in $829 million in wagers in October, setting a new state record. That’s according to the latest figures from the state regulator, the Pennsylvania Gaming Control Board. […]

September 20, 2023

Pennsylvania Anti-Smoking At Casinos Bill Proposed Again

Pennsylvania is once again considering the elimination of indoor smoking in its commercial casinos. Allegheny County Rep. Dan Frankel (D) has introduced House Bill 1657 this week. This legislation aims […]

August 29, 2023

Pennsylvania Casinos Lady Luck and Hollywood Morgantown to Reduce Slot Count

Two popular Pennsylvania casinos have been granted approval to reduce the total number of slots offered on their property. In a move that may at first raise eyebrows in a […]

July 14, 2023

Pennsylvania’s Enhanced Self-Exclusion System for Gamblers is Now Live

The Pennsylvania Gaming Control Board (PGCB) has launched an enhanced, user-friendly online system to assist individuals displaying problem gambling behaviors. It announced the news in a statement earlier this week. […]

Stay Ahead of the Game

Are you ready to take your online gambling experience to the next level? Sign up for the LetsGambleUSA newsletter and get the latest news, exclusive offers, and expert tips delivered straight to your inbox.