FanDuel Takes Half Of PA Sports Betting Revenue In June

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PA sports betting

FanDuel claimed half of all online PA sports betting revenue in June 2023. The market leader ended the month with $16.6 million in revenue, good for 51% of the $32.5 million statewide total.

According to figures released recently by the Pennsylvania Gaming Control Board, FanDuel Sportsbook generated its revenue from $138.6 million in online bets during the month.

DraftKings Sportsbook finished June with the second-most Pennsylvania sports betting handle ($99.7 million) and revenue ($7.7 million.)

Caesars positive month of sports betting in PA

In June, online sports betting in PA accounted for $349.3 million in bets. Caesars Sportsbook handled 5.7% of the total, or $19.9 million.

Among Pennsylvania sports betting apps, Caesars has seen its market share of handle consistently increase since January 2022. Caesars’ $25.2 million handle was good for 5.5% of the overall market in May.

At the start of 2022, Caesars’ share of monthly handle was less than 1%.

Spending money to make money

With the seasonality of the sports betting calendar and fewer high-profile events, promotional spending dropped off in June. Total bet credits across all 13 online operators were $10.8 million for the month.

In May, online sportsbooks offered up $16.4 million in free bets.

BetMGM generated $2.4 million in online revenue in June on the back of $1.5 million in bet credits. Its promotional spending accounted for 62% of BetMGM total revenue, the highest percentage in the market.

PA sports betting handle drops in June

Total sports betting handle eclipsed $373.1 million in June, including in-person betting. It was a 25% drop from May when bettors in the Keystone State spent $495.5 million.

June’s handle total was also a 5% dip from the same month last year. The betting handle reached $393.4 million in June 2022.

Revenue sees year-over-year increase

Sportsbook revenue was up year-over-year in June, though. In-person and online bets produced $33.8 million for operators, a 48% increase over the $22.8 million sportsbooks generated in June 2022.

Pennsylvania collected $8.3 million in June sports betting taxes.