Pennsylvania sports betting revenue steady in May despite drop in handle
State’s $47.8m in GGR on par with April but volume dips below $500m for first time since 2021
Pennsylvania sportsbooks generated $47.8m in gross gaming revenue (GGR) in May, which was on par with April’s figures despite a drop in sports betting handle to $493.4m.
May represented Pennsylvania’s first sub-$500m handle month since August 2021. Overall, handle was down 13.9% month-over-month from $572.8m in April.
Despite the markedly lower total volume of wagers, sports betting revenue held steady, with the $47.8m only slightly lower than April’s figure of $49.1m. The discrepancy is attributable to a higher-than-average 9.7% hold.
After deductions, net gaming revenue came to just over $35m, as Pennsylvania allows operators to deduct promotional expenses from taxable revenue.
In terms of operators, FanDuel – through partner Valley Forge Casino Resort – maintained its longstanding market-leading position, taking $193.4m in total bets while generating $19.8m in taxable revenue.
Following FanDuel was Hollywood Meadows-partnered DraftKings, which totaled $111.5m in handle and $7.1m in net revenue. Penn National-owned Barstool Sportsbook was a distant third in revenue at $1.9m.
The Pennsylvania Gaming Control Board notably doesn’t break down betting activity by sport, but with the NBA playoffs in full swing throughout the month, basketball is likely to have been the most bet-on sport. NHL playoff betting and MLB regular-season wagering likely made up a sizable portion of handle as well.
On the igaming side, total revenue from online casino games came to $113.3m, almost identical to April’s $113.1m and up 11.9% year over year from $101.3m in April 2021.
Internet slots accounted for 69% of total igaming revenue at $78.2m, while online table games generated $32.3m in revenue. Online poker, meanwhile, contributed $2.8m.