Pennsylvania Sports Betting Industry Reaches Two Major Milestones in May

Pennsylvania, and our best sports betting sites operating in the Keystone State, hit two major milestones in May 2024.

The Pennsylvania Gaming Control Board report was released on Tuesday, and showed that the state not only became the fifth state post-PASPA to eclipse $30 billion in lifetime sports betting handle, but it also reached the $2.5 billion plateau in terms of gross revenue for state providers. Pennsylvania sports betting joins New Jersey sports betting, New York sports betting, Nevada sports betting, and Illinois sports betting as the only other states to see more than $30 billion in legal wagering activity since its launch.

For the most part, May was a respectable month for the Pennsylvania legal sports betting scene. Year-over-year, the handle was up, as were month-over-month revenue figures and gross gaming revenue totals from May 2023. The state’s overall handle understandably dropped from April’s totals.

$591.1 million May handle

Sports bettors in the Keystone State market spent a total of $591.1 million with Pennsylvania sports betting apps and the state’s retail providers. 

That figure represents an 8.3% month-over-month drop from the $646.1 million in accepted wagers from April but a nice 19.4% year-over-year spike from the $495.6 million in May 2023.

In 2024, Pennsylvania’s best sportsbooks have accepted just over $3 billion in bets and the state’s lifetime handle has now climbed over $30 billion.

$61.7 million in gross sports betting revenue

Pennsylvania sports betting providers combined for $61.7 million in gross sports betting revenue in May. That figure represents an increase both month-over-month and year-over-year, as residents continue to take advantage of Pennsylvania sportsbook promos.

May’s revenue total is a 7.2% jump from the $57.5 million in profits from May 2023 and is a 4.5% month-over-month improvement from $59.1 million from April.

Pennsylvania’s best sportsbooks have now claimed over $2.5 billion in revenues since the platform launched 67 months ago.

Adjusted gross revenues, after promotions and deductions, came in at $44.2 million. From that, $15 million in tax revenue was generated for needy state and local coffers in the state. Year-to-date, $79 million in tax revenue has been collected from Pennsylvania sportsbooks, $7.2 million more than through the first five months of 2023. 

So far this year, $232.4 million in AGR has been reported for Pennsylvania sportsbooks. It is a 10% year-over-year increase in that metric.

FanDuel takes top honors

FanDuel once again won the battle to be the most popular Pennsylvania sports betting app. FanDuel Pennsylvania accepted $243 million in wagers in May, and reported $31.2 million in monthly revenues off of a 12.8% hold, and you can check it out with our FanDuel promo code.

FanDuel has maintained a 44% market share in Pennsylvania in 2024 and now has $1.1 billion in lifetime winnings in the Keystone State.

DraftKings Pennsylvania finished a familiar second with a $163.3 million May handle and $15.1 million in revenue off of a 9.2% may win rate. It surpassed $500 million in lifetime revenues in the Pennsylvania market since launch.

BetMGM Pennsylvania checked in third with $36.3 million in accepted May wagers and $3.3 million in revenues thanks to a just-under 9% hold.

ESPN BET was next with $31.6 million in May wagers in the Keystone State and $3.1 million in revenue while BetRivers Pennsylvania rounded out the top five with a $22.3 million May handle and $1.8 million in revenue.

Caesars Sportsbook Pennsylvania trailed the pack, taking in $19.6 million in wagers last month and reporting $756,642 in revenues.