Home to more than 12 million people and some of the country’s most beloved sports teams, Pennsylvania is one of the top sports betting markets in America in terms of revenue generation.
We’re following this powerhouse market closely to keep you informed with the most important details and analysis of monthly Pennsylvania sports betting revenue reports. Let’s dig into some numbers and explore the business of sports betting in the Keystone State.
Month-by-Month Sports Betting Revenue Data for Pennsylvania
Sports Betting Dime monitors the growth of legal sports wagering by tallying monthly revenue reports from each state.
Here’s what each column represents:
- Handle is the total amount wagered on sports.
- Revenue reflects the gross gaming revenue kept by sportsbooks after paying out winnings.
- Hold percentage shows how much revenue sportsbooks kept as a function of the betting handle.
- State tax revenue displays taxes collected by the state and local jurisdictions.
The table below shows the key financial figures for the Pennsylvania sports betting industry from its launch in November 2018 to date.
| Month/Year | Total Handle | Revenue | Hold Percentage | State Tax Revenue |
|---|---|---|---|---|
| November 2018 | $1,414,587 | $508,997 | 35.98% | $183,239 |
| December 2018 | $16,173,090 | $2,007,592 | 12.41% | $722,733 |
| January 2019 | $32,011,839 | $2,607,215 | 8.14% | $938,597 |
| February 2019 | $31,500,742 | $1,946,817 | 6.18% | $700,854 |
| March 2019 | $44,527,575 | $5,519,340 | 12.40% | $1,986,962 |
| April 2019 | $36,769,145 | $4,221,482 | 11.48% | $1,519,734 |
| May 2019 | $35,934,215 | $2,861,852 | 7.96% | $1,030,267 |
| June 2019 | $46,334,244 | $3,126,380 | 6.75% | $740,455 |
| July 2019 | $59,331,959 | $5,079,633 | 8.56% | $1,026,769 |
| August 2019 | $109,038,051 | $9,887,738 | 9.07% | $2,201,406 |
| September 2019 | $194,504,622 | $19,334,816 | 9.94% | $5,359,994 |
| October 2019 | $241,186,066 | $19,116,777 | 7.93% | $5,381,370 |
| November 2019 | $316,468,264 | $20,570,772 | 6.50% | $5,299,447 |
| December 2019 | $342,560,389 | $17,459,091 | 5.10% | $4,094,813 |
| January 2020 | $348,381,708 | $31,580,803 | 9.07% | $8,222,829 |
| February 2020 | $329,765,782 | $11,432,097 | 3.47% | $1,700,911 |
| March 2020 | $131,330,059 | $8,606,120 | 6.55% | $2,480,132 |
| April 2020 | $46,015,988 | $3,202,680 | 6.96% | $1,038,050 |
| May 2020 | $77,510,033 | $5,918,697 | 7.64% | $1,738,436 |
| June 2020 | $89,002,562 | $7,959,790 | 8.94% | $2,397,657 |
| July 2020 | $164,782,229 | $13,651,865 | 8.28% | $2,933,093 |
| August 2020 | $364,985,422 | $27,593,677 | 7.56% | $6,578,668 |
| September 2020 | $462,787,392 | $18,277,566 | 3.95% | $2,257,158 |
| October 2020 | $525,802,524 | $47,834,647 | 9.10% | $13,239,694 |
| November 2020 | $491,910,713 | $48,500,443 | 9.86% | $11,226,836 |
| December 2020 | $548,590,065 | $45,344,348 | 8.27% | $12,261,434 |
| January 2021 | $615,294,827 | $49,305,268 | 8.01% | $12,229,343 |
| February 2021 | $509,547,820 | $33,171,120 | 6.51% | $5,896,731 |
| March 2021 | $560,259,181 | $41,029,269 | 7.32% | $9,353,345 |
| April 2021 | $479,411,021 | $36,033,727 | 7.52% | $9,466,734 |
| May 2021 | $447,465,027 | $37,419,313 | 8.36% | $9,988,735 |
| June 2021 | $420,193,377 | $42,495,332 | 10.11% | $12,321,187 |
| July 2021 | $304,415,503 | $27,482,519 | 9.03% | $7,148,225 |
| August 2021 | $348,520,369 | $25,315,958 | 7.3% | $6,482,608 |
| September 2021 | $578,760,746 | $48,113,670 | 8.3% | $10,171,365 |
| October 2021 | $776,277,954 | $42,282,405 | 5.4% | $8,471,813 |
| November 2021 | $761,574,597 | $84,921,693 | 11.2% | $22,922,758 |
| December 2021 | $750,388,696 | $37,953,474 | 5.1% | $6,774,396 |
| January 2022 | $793,722,787 | $53,403,655 | 6.7% | $11,581,176 |
| February 2022 | $597,064,049 | $22,160,553 | 3.7% | -$159,425 |
| March 2022 | $714,976,578 | $48,512,264 | 6.8% | $10,944,209 |
| April 2022 | $572,817,741 | $49,083,331 | 8.6% | $12,120,141 |
| May 2022 | $493,350,519 | $47,828,553 | 9.7% | $12,603,546 |
| June 2022 | $393,494,222 | $22,889,554 | 5.8% | $4,597,039 |
| July 2022 | $336,507,932.41 | $33,226,517.32 | 9.9% | $9,160,082.92 |
| August 2022 | $363,046,971.98 | $42,185,144.88 | 11.6% | $12,223,187.93 |
| September 2022 | $645,242,680.81 | $75,319,093.28 | 11.7% | $18,078,108.80 |
| October 2022 | $797,124,732.44 | $61,519,576.03 | 7.7% | $14,585,047.28 |
| November 2022 | $789,230,672.27 | $69,997,948.78 | 8.9% | $19,037,132.91 |
| December 2022 | $754,849,873.23 | $71,238,770.37 | 9.4% | $19,664,737.66 |
| January 2023 | $772,289,648.45 | $57,982,068.70 | 7.5% | $14,130,144.59 |
| February 2023 | $599,529,428.66 | $62,214,502.08 | 10.4% | $15,562,863.88 |
| March 2023 | $723,545,806.25 | $66,524,609.48 | 9.2% | $18,232,293.35 |
| April 2023 | $572,152,802.80 | $51,786,463.57 | 9.1% | $13,333,004.4 |
| May 2023 | $495,585,359.86 | $57,533,744.44 | 11.6% | $14,797,652.51 |
| June 2023 | $373,171,414.55 | $33,866,725.04 | 9.1% | $8,301,627.23 |
| July 2023 | $338,450,263.46 | $39,406,353.30 | 11.6% | $11,552,322.68 |
| August 2023 | $393,007,298.20 | $30,614,565.03 | 7.8% | $7,929,470.38 |
| September 2023 | $726,259,711.80 | $66,109,573.75 | 9.1% | $13,187,910.29 |
| October 2023 | $829,002,595.44 | $73,631,197.21 | 8.9% | $17,334,019.93 |
| November 2023 | $934,130,151.55 | $49,147,979.21 | 5.2% | $4,638,252.41 |
| December 2023 | $925,570,368.39 | $98,097,732.35 | 10.6% | $26,102,320.69 |
| January 2024 | $858,152,502.70 | $97,681,399.00 | 11.4% | $25,172,653.02 |
| February 2024 | $661,740,812.31 | $50,425,678.14 | 7.6% | $10,890,945.69 |
| March 2024 | $800,718,331.69 | $63,715,603.45 | 7.9% | $16,409,365.17 |
| April 2024 | $646,061,065.35 | $59,050,707.81 | 9.1% | $15,268,503.58 |
| May 2024 | $591,912,626.60 | $61,680,935.59 | 10.4% | $15,916,627.12 |
| June 2024 | $464,534,792.32 | $42,998,200.09 | 9.3% | $10,761,523.54 |
| Total (since launch) | $30,597,972,122.71 | $2,611,027,556.96 | 8.5% | $802,982,931.88 |
The PA market has grown rapidly since its launch in November 2018.
PA Sports Betting Revenue: Annual Figures
The table below shows Pennsylvania’s sports betting handle, gross gaming revenue, and hold percentage, as well as state tax revenue collected each year since legalization in November 2018.
| Year | Total Handle | Revenue | Hold Percentage | State Tax Revenue |
|---|---|---|---|---|
| 2018 | $17,587,677 | $2,516,589 | 14.31% | $905,972 |
| 2019 | $1,490,167,111 | $84,112,967 | 5.6% | $30,280,670 |
| 2020 | $3,580,864,477 | $189,703,465 | 5.2% | $68,293,250 |
| 2021 | $6,552,109,118 | $340,113,160 | 5.1% | $122,440,739 |
| 2022 | $7,251,428,759 | $401,208,108 | 5.5% | $132,566,833 |
| 2023 | $7,682,694,849 | $458,616,339 | 5.9% | $165,101,882 |
Pennsylvania has been one of the largest sports wagering markets in America since 2019. It reported an annual betting handle of just under $1.5 billion that year.
Pennsylvania finished 2020 with $3.5 billion in sports bets placed. This is a year-over-year growth of 140 percent despite the challenges the COVID-19 pandemic imposed on bettors and sportsbooks alike. It appears the PA sports betting market weathered the COVID storm better than most other states.
Latest PA Revenue News
The Pennsylvania market shows no signs of slowing down. Here’s a quick rundown of the latest PA sports betting revenue reports.
January 2024 – 2023 revenue from sports wagering was $458,616,339, a 14.31% increase in revenue when compared to the $401,208,108 generated in 2022.
December 2023 – The Pennsylvania Gaming Control Board reported $7.68 billion in sports betting handle for the year, a record for the state.
December 2022 – The state reported $401,208,108 in sports betting revenue for 2022, an 17.96% increase in revenue when compared to the $340,113,160 generated in 2021. Sports wagering handle was $7.25 billion, an 10.67% increase over 2021’s handle of $6.55 billion.
December 2021 – Pennsylvania reported $340,113,160 in sports betting revenue, a 79.29% increase in revenue when compared to the $189,703,465 generated in 2020. Sports wagering handle came in at $6.55 billion, an 83% increase over 2020’s handle of $3.58 billion.
November 2021 –Â The monthly sports betting handle in Pennsylvania hovered above $750 million for a second-straight month, hitting a total of $761,574,597 in November.
October 2021 –Â Pennsylvania smashed their state record for monthly sports betting handle by over $100 million, as the wagering volume hit $776,277,954 in October 2021.
September 2021 –Â As the NFL season kicked off, Pennsylvania monthly sports betting handle reached a figure of $578,760,746. This resulted in a net revenue of $48,113,670.
August 2021Â – Pennsylvania reached a total of $348,520,369 in total sports bets through August 2021 as the wagering handle started to increase before the start of the NFL season.
July 2021 – Pennsylvania reports $304 million in sports betting handle for July, by far its slowest month since July 2020.
June 2021 – Pennsylvania reports $420 million in wagers for June, a six percent drop from May. However, sportsbooks kept $42 million thanks to the Keystone State’s first double-digit hold rate since April 2019. FanDuel Sportsbook took in just under 40 percent of the handle but generated 47 percent of the gross revenue, an impressive month for the brand. FanDuel handed out over $3 million in free bets to its PA customers in June, but still managed to hold 12 percent due to the popularity of its parlay offerings.
May 2021 – Pennsylvania’s betting handle dips to $447 million in May, more than $165 million less than its January 2021 peak ($615,294,827). This sustained dropoff is somewhat surprising given nearby New Jersey managed $814 million in May, with over a third coming from baseball bets. Pennsylvania has two MLB teams, plus the Philadelphia 76ers were in the NBA playoffs.
April 2021 – Pennsylvania reports $479 million in sports betting handle for April, its lowest since September 2020. Still, the Keystone State is well on track to take in more than $6 billion in sports bets in 2021.
March 2021 – Pennsylvania monthly betting handle exceeds $500 million for the fifth time, reporting $560 million wagered in March.
It’s important to note that, unlike most other states, the reporting from the Pennsylvania Gaming Control Board accounts for promotional dollars spent by a sportsbook when calculating gross revenue. For this reason, PA’s revenue numbers may look smaller than you might expect.
Key Information about the Keystone State
It’s always important to consider the context when evaluating the sports betting industry. Here’s some key information to keep in mind when looking at the market in Pennsylvania.
State Population (2020 Census): 13,011,844
In-state Pro Teams: Philadelphia Eagles and Pittsburgh Steelers (NFL), Philadelphia 76ers (NBA), Pittsburgh Penguins and Philadelphia Flyers (NHL), Philadelphia Phillies and Pittsburgh Pirates (MLB), Philadelphia Union (MLS)
Launch Date: November 15, 2018
Biggest Monthly Handle: $934,130,151.55 (November 2023)
Regulator: Pennsylvania Gaming Control Board
Online or Retail Betting: Both
Tax Rate: 36 percent (34 percent to the state and 2 percent to local jurisdictions)
Sports Betting Revenue Insights for Pennsylvania
You may have noticed the dramatic increase in Pennsylvania’s betting handle starting in the summer of 2019 – this reflects the launch of online sports betting.
Let’s explore a couple of themes that stand out when looking at Pennsylvania’s sports betting financial reports.
Online Betting Dominates
According to the PA Gaming Control Board’s reporting, more than 85 percent of all Pennsylvania sports betting handle was generated by online sportsbooks in the 2019-2020 fiscal year. In recent months, online operators have taken in more than 90 percent of the total handle.
While betting at a retail sportsbook is a fun experience, most of the action occurs online simply because it’s more convenient than placing wagers in-person. There’s also reason to believe Pennsylvania benefits somewhat from New Yorkers crossing state lines to place mobile bets, although perhaps to a lesser extent than New Jersey does.
FanDuel Sportsbook is by far the largest operator in Pennsylvania, generating over a third of the handle and gross revenue in partnership with Valley Forge Casino. DraftKings, partnered with The Meadows Casino and Racetrack, is a close second but stands high above a rotating cast of third-place finishers.
Expensive Market for Sportsbooks
Pennsylvania is the most expensive of the top sports betting markets in America. The Commonwealth charges sportsbook operators $10 million in initial licensing fees, then takes an astounding 36 percent cut of revenue through ongoing taxation – by far the highest tax rate amongst larger states.
It would be tempting to think this is the sportsbook’s expense and not yours. However, the reality is costly regulations lead to a less diverse market than you’d otherwise expect to see. Ultimately, it means fewer promotions and higher prices for sports bettors – don’t be surprised to see a higher vig in Pennsylvania than you might find in New Jersey, for example.
On the flip side, sports betting brings in a substantial amount of tax revenue for Pennsylvania. In 2020, the Commonwealth collected more than $80 million in taxes, a full 33 percent of all sports betting tax revenue across the United States for the year.
Despite some government officials’ efforts to divert it to a property tax relief fund, the money currently goes into a general fund. A bipartisan bill (PA SB1117) aimed to use Pennsylvania sports betting revenue to support homeowners experiencing financial difficulties during the COVID-19 pandemic, but it died in committee.
Learn More About Pennsylvania
We’ll be keeping a close eye on Pennsylvania, particularly to see if it can retain its position as a top market as new ones emerge.
Sports Betting Dime will keep you up to date with the latest PA sports betting promos and news. Find an online sportsbook or betting app in Pennsylvania or learn about the rules and regulations, bonuses, and more to start sports betting online. You can also check out other states that offer online sports betting to find sportsbooks and offers in other locations. To see how PA compares to other states in terms of betting volume, check out our state-by-state revenue tracker.
Have fun and enjoy the action out there!
