Pennsylvania June handle down but revenue up 14%
Online and retail sportsbooks in Pennsylvania accepted $420.2m for June, down 6.1% from May’s $447.5m.
And yet ports gaming revenue jumped up to $42.5m, which was up 14% from the $37.4m reported in May.
Dustin Gouker, PlayPennsylania.com Analyst, said: “Betting volume typically falls over the summer, but sportsbooks tend to win more per bet on sports like golf and tennis.
“That really helped sportsbooks in June and will help them to continue to weather the offseason even as bettors engage less.”
After two years of online sports betting, Pennsylvania has now taken in $8.1bn in online and retail wagering since its launch; only New Jersey and Nevada have taken in more during that time.
Valerie Cross, PlayPennsylvania.com Analyst, said: “By any measure, Pennsylvania’s entry into sports betting has been an unqualified success, and the market has yet to fully mature.
“Importantly, with more than $111m in state and local taxes over the fiscal year, no state takes in more in tax revenue from sports betting than Pennsylvania. That is where the state truly stands out.”
In June, 90%, or $379.3m, of all sports bets were made online, as the month saw an increase in the number of online bets.
FanDuel dominated the period by producing $162.5m in online wagering, up from May’s $160.9m.
By accepting 42.9% of all online wagers in June, FanDuel took in its largest market share since August.
Second on the list was DraftKings with $86m in bets, down from $100m in May.
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