Caesars continued its run of gaining PA sports betting handle share in July.
It accounted for 5.9% of all dollars spent through Pennsylvania sports betting apps in July.
Inching up PA sports betting leaderboard
Caesars has seen its handle share consistently increase in recent months as it approaches a 6% market share:
- July: 5.9%
- June: 5.7%
- May: 5.5%
- April: 5.2%
At the start of 2022, Caesars’ share of monthly handle was less than 1%.
Top spot unchanged in July
While Caesars makes steady progress, the top of the Pennsylvania sports betting market remains unchanged.
FanDuel Sportsbook accepted the most betting dollars, generated the most revenue, and posted the highest win rate of all PA sports betting apps.
Sports bettors spent $316 million online in July. FanDuel accepted $126.3 million, or 40%, of the online total.
With a win rate, or hold, north of 13%, FanDuel produced nearly $17 million in monthly revenue.
PA sports betting promo spend drops
With fewer sports betting events on the calendar during the summer, sportsbooks offered $7.3 million in bet credits for the month.
It is the lowest total in recent months:
- July: $7.3 million
- June: $10.8 million
- May: $16.4 million
PointsBet generated $307,380 in online revenue in July behind $170,450 in bet credits. Promotional spending accounted for 55% of its total revenue, the highest percentage in the market.
Year-over-year PA sports betting handle ticks up
Total Pennsylvania sports betting handle reached $338.4 million in July, a 9% drop from June ($373.1 million.)
However, the total handle in July 2023 was a few million dollars more than in July 2022 ($336.5 million.)
Operators see revenue bump, too
Revenue increased in July for Pennsylvania sportsbooks.
The $39.4 million revenue total is 16% more than June ($33.8 million). It is also a 19% increase compared to July 2022 ($33.2 million.)
Pennsylvania collected $11.5 million in July sports betting taxes.