On Thursday, the Pennsylvania Gaming Control Board reported $43 million in gross sports betting revenue for June. Operators in the Keystone State had a hold of around 9.3% last month. Additionally, revenue was up 27% compared to their numbers from June 2023. That slightly outpaced their 24.5% rise last year. Their total handle for 2024 so far is $464.5 million. In the first half of 2024, Pennsylvania residents have wagered $4 billion, That’s up 13.8% compared to the first six months of 2023. Finally, Pennsylvania’s betting handle was down 21.5% compared to the $591.9 million they saw in May.
FanDuel was king in Pennsylvania for sports wagering
Of the 11 sports betting apps in Pennsylvania, FanDuel continues to rank #1. The industry leader has shown they are willing to offer promotional credits and bonuses to protect their market share. FanDuel’s spending went to $6.1 million in June, bringing their year-to-date total to $51 million. That accounted for 46.6%of the $13.1 million in overall credits provided by online operations in June. FanDuel had a 12% hold for the second straight month, collecting $21.7 million in revenue from a $172.9 million handle. Not too far behind FanDuel in promotional spend was DraftKings who used # million in June. That’s a 61.6% increase from June 2023. Gross revenue had a 45.1% jump in last month to $11.3 million. The industry operator had an 8.7% win rate from $129.3 million in bets placed.
Not too far behind FanDuel in promotional spend was DraftKings who used # million in June. That’s a 61.6% increase from June 2023. Gross revenue had a 45.1% jump in last month to $11.3 million. The industry operator had an 8.7% win rate from $129.3 million in bets placed. Fanatics sportsbooks ranked third in Pennsylvania for total spend in June 2024. Their total spend last month was $1.2 million, the fourth time this year that their total spend has hit seven figures. In back-to-back months, Fanatics had an 11% hold in the market. They had $1.9 million in winnings and $16.4 million in handle.
