June 18, 2021 Sports Betting, Casino, Online

Pennsylvania sportsbooks record May handle of $448m

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Pennsylvania May sports betting handle reached $448m, a 6.7% decrease from April even as revenue improved.

The seasonal slowdown in sports wagers was expected with fewer local teams competing this time of year. Online wagers made up 91%, or $407m, of the month’s handle, which was no doubt propped up by the Philadelphia 76ers’ ongoing NBA playoff run.

Sportsbook win grew to $37.4m, an increase of 3.8% from the prior month. Taxable revenue came out to $27.7m, yielding the state of Pennsylvania $9.4m in state taxes.

FanDuel/Valley Forge led online operators with handle of $161m, leading to gross revenue of $17.6m. DraftKings/The Meadows was a distant second with $100m of wagers and win of $5m.

Home state Penn National and Barstool Sportsbook took third with $43.6m in wagers, which generated $2.8m in gross revenue. BetMGM/Hollywood Morgantown trailed in fourth with $32.4m in handle and win of $2.2m, while BetRivers/Rivers-Pittsburgh rounded out the top five with $19.1m in bets and revenue of $1.2m.

Retail sportsbooks saw another $40.1m in wagers, practically even with April. Rivers-Philadelphia led brick-and-mortars with $6.7m in handle, followed by Parx Casino with $6.2m.

Pennsylvania casinos returned to full capacity on Memorial Day.

Online casinos and poker produced $111m in GGR, slightly missing the record of $112m set in March. The $3.6m in GGR generated daily was up a tick from $3.5m in April.

Penn National, whose iGaming partners include DraftKings, BetMGM and Hollywood casinos, led the way with $43.5m in win, followed by Rivers-Philadelphia/PlaySugarHouse/BetRivers with $30.7m.

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