Sports betting dips in Pennsylvania amid strong iGaming month

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Sports betting in Pennsylvania declined year-on-year amid a record month for total revenue in the state.

The Pennsylvania Gaming Control Board reported total sports betting handle of $800.7 million which generated $63.7 million in gross revenue for operators, down from $66.5 million in gross revenue generated in March 2023.

Online sports betting contributed $759.4 million in handle with retail sports betting adding the other $41.2 million. These figures are both up year-on-year despite the drop in revenue.

As in previous months, FanDuel was the dominant operator for online sports betting in the state in March.

The operator, which is partnered with Valley Forge Casino, accepted $330.9 million in wagers and generated gross revenue of $32 million. This represents a month-on-month increase in revenue of 30.1% and also an increase year-on-year compared to the $30.2 million gross revenue it generated in the same period last year.

DraftKings, partnered with Hollywood Casino at The Meadows, reported the second-highest online sports betting revenue, generating $14.7 million in revenue from a handle of $207.3 million. The operator generated the same revenue in March 2023 from a reduced handle of $185.6 million.

BetMGM secured the podium spot in the Keystone State however the operator posted handle and gross revenue down year-on-year. Partnered with the Hollywood Casino at Morgantown, the operator posted a handle of $51.1 million, down from  $55.2 million in March 2023, and gross revenue of $3.5 million which was down from $6.2 million in the same period last year.

Strong month for iGaming

Pennsylvania regulators reported an all-time high of $554.6 million in total revenue from gaming and fantasy contests in March which was driven by a strong month for iGaming.

iGaming operators generated a record $191.1 million in revenue in March which represented a 29% increase from the $148.2 million posted in March 2023.

Online slots generated the most revenue for operators in March. They netted operators $177.5 million in gross revenue, up 29.3% year-on-year and significantly up on the $54.1 million generated last month. 

Hollywood Penn National led the way for iGaming operators in March, posting $72.3 million in total revenue which was up 16% year-on-year. Valley Forge Casino Resort was the second most successful operator, reporting a 59.8% increase in total revenue from $31.8 million in March 2023 to $50.8 million last month.

Pennsylvania is one of seven states in the U.S. that offers regulated iGaming.