Pennsylvania Sports Betting Operators Bash Bettors in July

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Pennsylvania Sports Betting Operators Bash Bettors in July
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The Keystone State reported monthly revenue of $52.7 million on a $464.5 million handle, giving sportsbooks a 12.7% hold in July.

The $414.7 million handle means sports betting operators took home a 12.7% hold, the second highest in Keystone State history.

The taxable revenue of $38.6 million was up more than 20% year-over-year and led to the Keystone State filling its coffers with $13.9 million, putting the year-to-date tax revenue over $100 million. Online sportsbooks handed out $14.1 million in promotional credits, up from the $13.1 million spent in June. The total for July is nowhere close to the most sportsbooks spent in a single month this year. That came in January when they handed out more than $27 million.

DraftKings was second at $109.5 million and enjoyed an 11.6% hold to rack up $12.7 million in revenue, up more than $1 million more than in June. ESPN BET came in fifth with an $18.6 million handle that produced $2.2 million in revenue. Fanatics brought in more profit with $2.4 million despite a handle of $17 million to enjoy its best month yet in Pennsylvania.

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