Pennsylvania’s mobile sportsbooks took $49.5 million in gross sports betting revenue in July, up 33.8% year over year.
The Pennsylvania Gaming Control Board’s July revenue report showed that the state’s dozen online sports betting operators collectively recorded their highest-ever monthly win rate of 12.7% last month. That is more than a full percentage point higher than the previous best set in May 2023.
As a result, gross revenue rose at a faster year-over-year rate than handle, which climbed 22.5% compared to July 2023 to reach $392.1 million. Month over month, handle was down 10.7% but revenue rose 22.6% thanks to a far stronger hold.
Total promotional spend by mobile sportsbooks was up 94% year-over-year to $14.2 million. Pennsylvania’s 34% tax rate yielded $13.1 million for the month.
Year-to-date, Pennsylvania operators have now taken more than $4 billion in bets and made $410 million in GGR.
Bet365, Fanatics enjoy fruitful July
bet365, which launched in Pennsylvania via Presque Isle Casino on July 22, had a 20.3% win rate in its first 10 days of operation in the Keystone State. It made $1.2 million in gross revenue from almost $6 million wagered, although nearly $2 million of those bets came from credits and bonuses.
With so much in promotional credit deductions, bet365 reported AGR losses of nearly $700,000, resulting in no taxes paid to the state from the operator so far.
Meanwhile, Fanatics Sportsbook enjoyed the best of its six full months in the state, posting $2.4 million GGR from $17 million in handle.
The Pennsylvania sports betting market is still dominated by FanDuel, which took more than $20 million in GGR for the eighth straight month. FanDuel’s July’s revenue hit $23.4 million from $165.5 million in handle. No operator had a greater promotional spend last month than the Flutter-owned sportsbook’s $5.7 million.
DraftKings trailed behind in second with $12.7 million GGR from $109.5 million in wagers, although its hold was its highest ever in Pennsylvania.
BetMGM was third for revenue with nearly $3.1 million from $28.2 million in handle. Behind Fanatics, ESPN Bet rounded out the top five ahead of BetRivers and Caesars, although the latter of those three exceeded $1 million in GRR for the first time since March.
Pennsylvania iGaming enjoys third-best month ever
In terms of online casino, Pennsylvania reported its third-highest monthly revenue total ever in July.
Operators produced $216.4 million in gross iGaming earnings, a year-over-year increase of 37.7% and an uptick from June, when revenue fell below $200 million for the first time in five months. More than three-quarters of that revenue, $166.5 million, was from online slots.
bet365’s online casino generated nearly $1.1 million in the latter portion of July. PENN Entertainment led the way with $77.9 million in gross iGaming revenue in July, more than $20 million ahead of Boyd Gaming in second.
