Sports Betting
In June, Pennsylvania Sportsbooks collected $43 million in total revenue
Zach Wolpin is an NBA and NFL expert who's been betting on the league for over three years now. Wolpin is a fan of the NFL and NBA and has been watching for a decade and a half. He covers the latest news and stories surrounding the league daily. His passion in life is sports and being able to share that through his writing. He has written about the NBA and other sports leagues through various media outlets over the years like Sir Charles In Charge, G-Men HQ, and TAP into South Plainfield. Before he became a Sports Editor, Wolpin attended Montclair State University where he graduated in 2021. He studied Sports Media and Writing while in school.
All posts by Zach WolpinPublished19 Jul 2024
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.
