Pennsylvania Sports Betting Market Crosses Another Milestone

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Pennsylvania sports betting

Pennsylvania is the fifth state to surpass $21 billion in all-time sports betting handle. Sports bettors sent $572.1 million through Pennsylvania sportsbooks in April to reach the new milestone.

PA sports betting is now fifth in all-time handle:

In the post-PASPA era, PA sportsbooks have generated $1.72 billion in revenue and sent $427.6 million in taxes back to the state.

PA sports betting revenue sees increase

According to figures recently released by the Pennsylvania Gaming Control Board, nearly 94%, or $536.2 million, of PA sports betting happened online.

Handle dropped 21% from March ($667.4 million), though an April decline is generally expected following March Madness betting, one of the most popular events on the sports betting calendar.

Sportsbooks generated $51.7 million in April revenue, a 5% increase compared to April 2022 ($49 million.) The Keystone State collected $13.3 million in sports betting taxes.

DraftKings, Caesars making up ground

DraftKings Sportsbook increased its market share in Pennsylvania in the last year. In April, it handled more than 27% ($157.7 million) of sports betting dollars, up from less than 21% ($120.3 million) in April 2022.

Caesars Sportsbook grabbed 5% ($29.5 million) of the April sports betting market. It had less than 1% ($4.6 million) at this time last year.

Market share for FanDuel Sportsbook has mainly been flat for the last 12 months at roughly 40%.

BetMGM gives up ground

BetMGM saw its market share in Pennsylvania drop to begin the year. It handled $44 million in April, worth 7.5% of all sports betting dollars. It handled 11.5% ($65.8 million) in April 2022.

To start 2023, BetMGM has claimed 7% of the market. It finished 2022 with just under 10% of the market.

Overall, sports betting handle in the state has been relatively flat year-over-year since fall.