Pennsylvania betting handle fell by 14% month-on-month but still performed better than other states in the US betting space.
According to the Pennsylvania Gaming Control Board’s (PGCB) latest report, sportsbooks in the state took $479m in sports bets in April.
April’s handle marked a 14% month-on-month drop from the $560.3m wagered in March.
Although betting handle was down from last month, Pennsylvania handle fared significantly better than it did in April 2020 when bettors wagered just $60m on the few sports that were available during the coronavirus pandemic.
Online betting made up the lion share of handle in April after bettors wagered $439m via online sportsbooks, while $40.3m was wagered in person at land-based sportsbooks in the state.
Sports betting revenue amounted to $36m in April 2021, which was up from the $3.2m generated this time last year, but down 12% month-on-month.
Sportsbooks in the state paid $8.9m in taxes to the state and spent $9.7m in bonus credits.
How did each sportsbook perform?
FanDuel, which operates under the Valley Forge Casino license, held onto its lead in handle after taking $169.9m in bets in April. This turned into $14m in gross betting revenue but this fell to $11.4m in net revenue when accounting for bonus credits.
DraftKings, which serves the state under the Meadows license, held onto second place after taking $106.9m in bets. In terms of revenue, the operator reported $6.5m in gross betting revenue but this fell to $5.5m in net revenue.
Penn National Gaming’s Barstool Sportsbook took third place after processing $58.6m in bets. However, the operator spent more on bonuses than DraftKings or FanDuel, leaving the operator with a net gaming revenue of $136,985.
BetMGM, which entered the state under an agreement with Hollywood Casino Morgantown, took fourth place in April after bettors wagered $33m via the platform. The operator posted $2.5m in gross gaming revenue but this fell to $1.1m after accounting for bonus credits.
BetRivers took the fifth spot after making up just 10% of the state’s total handle for April and $2.2m in net gaming revenue.
Pennsylvania vs the other states
While Pennsylvania’s April figures fall short of New Jersey’s $748m in handle and $54.8m in revenue, the Keystone State has performed better than several other states in April.
According to the PGCB’s figures, Pennsylvania’s betting handle outperformed other states with established betting markets, mainly Indiana and Michigan.
In April, Indiana took $236.4m in bets which translated into $20m in sports betting revenue. Meanwhile, Michigan sportsbooks took $274.2m in bets and held onto $21.9m in betting revenue.