PA sports betting handle drops to $46m in April

Pennsylvania’s sports betting market was hit incredibly hard by the coronavirus pandemic in April.

According to figures from the Pennsylvania Gaming Control Board (PGCB), sportsbooks in the state processed just over $46m in sports bets in April representing a 65% drop on the $131.1m wagered in March.

Pennsylvania sports betting revenue amounted to $3.2m in April, a 65% month-on-month decrease on the $8.6m generated in March.

The drop in handle and revenue can be attributed to the lack of sporting events to bet on. In March, all major US sports leagues, and several other sports leagues around the globe, decided to cancel or postpone events as a result of the coronavirus pandemic.

Due to the state-wide closure of non-essential businesses and the temporary closure of the state’s casinos, all of the bets in the state were placed via online and mobile betting platforms.

Breaking down the figures

Looking closer at the figures, FanDuel, which serves the state via the Valley Forge licence processed $19m in bets, accounting for 41% of the state’s handle in April. Of these bets, FanDuel generated just $1.4m in sports betting revenue.

DraftKings, which is partnered with Meadows, took $12.6m in bets, representing 27% of the state’s handle. In terms of revenue, DraftKings managed to generate $815,100 in betting revenue.

Rush Street Interactive, which operates Rivers Philadelphia and Rivers Pittsburgh came in third place after taking $8.3m in bets and holding onto $551,230.

Online gambling activity grows

Although the state’s sports betting market was hit incredibly hard by the coronavirus pandemic, the Pennsylvania online gambling market made significant gains in April.

Pennsylvania’s online gambling revenue hit a record $43m in April, almost double the $24.3m generated in March.

The state’s online gambling revenue was driven by online slot games which generated $27.3m in revenue. Table games generated $10.5m in revenue, while online poker accounted for $5.3m of the state’s revenue.

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