Pennsylvania sports bettors increased their activity as expected in August, taking advantage of the first available games for football betting, and they also did better at their wagering.
The state's 13 mobile betting operators and 19 retail sportsbooks combined for $393 million in legal sports betting handle last month, according to figures released Tuesday by the Pennsylvania Gaming Control Board. They retained $30.6 million in gross revenue — for a 7.8% hold rate — and $22 million in taxable revenue after deducting $8.6 million for promotional credits.
The betting volume was up 16.1% from July and 8.3% from August 2022, but the sportsbooks did far better revenue-wise in both of those comparable months, which had unusually high hold rates (the percentage lost by bettors) above 11%. The most recent 7.8% hold has been more typical in the several years of legal sports betting in Pennsylvania.
The $30.6 million/$22 million in gross/adjusted revenue last month was down from $39.4 million/$32.1 million in July and $42.2 million/$34 million in August 2022.