In August, Pennsylvania sportsbooks accepted $485.3 million worth of wagers

The Pennsylvania Gaming Control Board (PGCB) reported the state’s figures for August 2024. Compared to their numbers from this time last year, Pennsylvania sports betting operators had 48.4% more gross gaming revenue. Their betting handle was $485.3 million, up 23.5% year-over-year. Additionally, the PGCB reported that retail sportsbooks in the state combined for $45.4 million in revenue. 

Pennsylvania’s $30 million in adjusted gross revenue in August 2024 was slightly behind their revenue of $30.6 million in 2023. Their 9.4% hold from gross revenue was down 1.5 points year-over-year. On top of that, it was down nearly three points from their figures in July 2024 when sportsbooks had $52,7 million worth of profit on a handle of $414.7 million. 

In August, online sports betting accounted for $457.6 million of the total handle. Mobile operators collected $41 million behind a 9% hold. Retail sportsbooks in Pennsylvania had a 16% win rate in August to produce $4.5 million in revenue. That was from $27.7 million of in-person wagering. State coffers were able to collect $10.2 million.

What Pennsylvania sportsbooks were the most profitable in August?

A common theme for Pennsylvania sportsbook operators this summer was spending money to make money. That trend stayed true in August. Operators had to give out $15.4 million in promotional credits in August. That was up a whopping 80% from the $8.6 million in August 2023. Their $15.4 million in August was also higher than the $14.1 million in July. 

FanDuel had the largest handle in August of a Pennsylvania sportsbook operator at $175.3 million. That was $10 million higher than their handle in July 2024. However, their revenue of $18.2 million fell 22.2% year-over-year. This was despite their hold staying in double digits. 

DraftKings had $123.1 million in sports betting revenue in August. That was better than the $111.1 million they saw in July. The operator’s online sportsbooks opened for business in late July and they’ve already collected $2 million in gross revenue. BetRivers casino had a $24.6 million handle while Fanatics recorded a 9.7% hold on a $21.8 million handle. 

How successful was total gaming in August?

With an 11.6% year-over-year increase, Pennsylvania’s total gaming revenue hit $510.17 million. Table games, slots, online casinos, sports betting, video game terminals, and fantasy sports combined for $215 million worth of tax revenue. Online casinos generated $183.7 million in August, up from the $145 million they saw in August 2023.