DraftKings, Fox Bet Gain PA Sports Betting Market Share During Shutdowns

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PA sports betting

The PA sports betting market plummeted in April as operators felt the effects of a full month without sports.

Total Pennsylvania sports betting handle was $46 million, down 65% from March. The April handle was down a massive 87% from the market peak in January.

The ongoing retail casino closures, of course, meant 100% of handle was taken online. The PA sports betting market generally sees between 85-90% of handle from mobile sports wagering.

Hold helps ease PA sports betting pain

Pennsylvania bookmakers enjoyed a healthy 6.5% hold on that diminished handle, generating revenue of $3.2 million. That was down 65% month-on-month.

Unlike New Jersey, PA does not break out which sports attracted handle, but local reports suggest table tennis has been the most popular betting medium.

Handle was also dampened by some regulatory restrictions. Pennsylvania bookmakers were unable to accept bets on the NFL Draft. the only real live sporting event of consequence in April.

DraftKings, Fox Bet gaining ground

Despite the unusual sporting calendar, the shape of the PA sports betting market was broadly similar. 

FanDuel held a 41% share of handle via the Valley Forge license, down a percentage point from March. 

Meanwhile, DraftKings made gains, growing its share from 22% to 27%.

Rush Street Interactive, which operates Rivers Philadelphia and Rivers Pittsburgh with Kambi, came in third place.

The platform generated an 18% share of handle, flat compared with March.

Elsewhere, Fox Bet made relative gains month-on-month, growing its share from 5% to 8%Parx slipped back slightly to take a 5% share.

Online gaming picks up the slack

Despite the down month, the latest figures from the PA online gaming market suggested that sports bettors were directing their spend elsewhere.

Pennsylvania online gaming revenue hit a record $43 million in April, nearly doubling March’s tally. 

The online poker market was worth $5.2 million, and bigger than the NJ market, despite a lack of liquidity sharing. New Jersey, Nevada, and Delaware operate under such an arrangement.