Pennsylvania sportsbooks generate $646m in April handle
Wagering volume up 13% YOY as state closes in on $3bn in total 2024 handle
Pennsylvania sports betting operators are coming off the month of April where cumulative handle reached $646.1m, helping the Keystone State move within range of $3bn in total handle for 2024.
The nearly $650m in monthly handle represented a 12.9% year-on-year (YOY) increase from the same period of 2023. Through April, bettors have wagered just under $2.97bn for the year.
While handle was down 19.3% from $800m in March, gross gaming revenue (GGR) – which amounted to $59.1m – only saw a 7.2% monthly dip thanks to a 9.1% hold, up from just under 8% in March.
Once promotional credits were deducted, adjusted gross revenue (AGR) checked in at $42.4m, resulting in $15.3m in tax payments back to the state.
The operator landscape remained unchanged at the top, with FanDuel generating $272.3m in handle and $32.4m in GGR – which equated to an exceptional 11.9% hold – while netting $25.4m in AGR to maintain its longstanding number one status in the market.
DraftKings held firm in the second spot, handling $168.3m in wagers while totaling $14.1m in GGR and $9.8m in AGR. Bettors fared significantly better against DraftKings than FanDuel, evidenced by its 8.4% hold for the month.
ESPN BET rounded out the top three, accepting $41.6m in wagers while generating $3.8m and $2.2m in GGR and AGR, respectively, with BetMGM ($39m handle, $2.6m GGR) and BetRivers ($26.7m handle, $1.3m GGR) not too far behind.
On the igaming side, Pennsylvania’s 11 online casino operators combined to generate $173.4m in revenue, up 26.4% YOY. Online slots accounted for a little more than $126m in revenue, with online table games contributing $45m.
Hollywood Casino topped all operators with $62.3m in revenue, followed by Valley Forge ($48.1m), and Rivers Casino Philadelphia ($30.6m).