Pennsylvania Sports Betting Has Strong December With $925.6 Million Handle
The Pennsylvania sports betting industry brought in a total handle of $925.6 million throughout December of 2023. The massive handle comes after strong October and November totals for Pennsylvania, with both months breaking records. The additional success of sports wagering throughout December of 2023 has further cemented Pennsylvania as one of the top betting states in the country.
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Pennsylvania Sports Betting Handle Hit $925.6 Million In December 2023
December of 2023 was a huge month for Pennsylvania sports betting. The Pennsylvania Gaming Control Board recently reported that the state saw a total monthly handle of $925.6 million.
94% of the wagers throughout the month were placed through online sportsbooks. This shouldn’t come as a major surprise with the popularity of mobile sports wagering, although the state is also home to numerous retail sportsbooks such as the BetRivers Sportsbook at Rivers Casino Philadelphia and the Caesars Sportsbook at Harrah’s Philadelphia.
According to Play Pennsylvania, FanDuel Sportsbook was the leading online betting app in terms of both handle ($394.4 million) and revenue ($46.4 million). DraftKings Sportsbook came in second place, recording a handle total of $235.7 million and revenue totals of $25 million.
ESPN Bet, the new mobile sportsbook from Penn Entertainment, had a strong showing in its first full month of availability in the Keystone State. The sports betting site finished the month of December with a $82.5 million handle and $8.5 million in revenue.
This came in third for the month, meaning the new mobile sportsbook had outperformed major sports betting apps like BetMGM ($52 million handle), Caesars ($40.9 million handle), and BetRivers ($33 million). This speaks to ESPN Bet’s success since it was relaunched from Barstool Sportsbook. Keep in mind, though, that the online sportsbook only brought in $531.3 thousand in gross revenue due to its $8 million in promo credits being offered.
Sports betting operators brought in some major gross revenue in December, totaling $72.5 million for the month. Taxes from sports betting also totaled $24.6 million, a massive 434.7% increase. Pennsylvania sportsbooks had a 10.6% hold throughout the month, also significantly higher than November’s 5.3%.
Previous Two Months Broke Pennsylvania Sports Betting Records
December’s $925.6 million handle was definitely high, but it unfortunately didn’t break any records. Both October ($829 million) and November ($934.1 million) were monthly highs in the state, meaning December was just short of continuing the trend.
There are a number of reasons all three months commanded such high handles. The NFL season had plenty of games throughout this time, with the local Pittsburgh Steelers and Philadelphia Eagles on postseason runs. Plus, the Philadelphia Phillies were battling for a return to the World Series, with the team losing in the National League Championship to the Arizona Diamondbacks.
The NBA and NHL regular seasons also started in October, allowing for plenty of betting opportunities on the Philadelphia 76ers, Pittsburgh Penguins, and Philadelphia Flyers.
Pennsylvania Betting Industry Remains One Of The Best In The U.S.
The Pennsylvania sports betting industry originally launched on May 28th, 2019 and continues to be massively successful. Since its initial inception, the Keystone State’s betting industry has brought in a handle exceeding $26 billion, over $2 billion in revenue, and over $500 million in taxes. Pennsylvania is currently one of the top five U.S. states in terms of handle and revenue.
The availability of Pennsylvania online casinos, which also debuted in 2019, make Pennsylvania one of the most well-rounded betting states in the U.S.
