FanDuel became the first mobile sportsbook in Pennsylvania to surpass $1 billion in gross sports betting revenue after the state’s Gaming Control Board reported a total of $97.7 million in operator winnings for January on Tuesday.

FanDuel — which accomplished the same feat in New York last year — also became the first operator in the Keystone State to clear $50 million in gross monthly winnings after bludgeoning the public with a 14.8% hold to claim $54.7 million in revenue. It was the first digital operator to surpass $40 million in December when it reached $46.4 million. FanDuel’s handle dipped to $370.7 million in January, down 5.4% from its state-best $391.8 million to close out 2023.

January’s gross revenue came within $416,333 of December’s record $98.1 million as operators combined for double-digit holds in back-to-back months for just the second time in the mobile era that began in May 2019. The 11.4% win rate was nearly eight-tenths of a percentage point higher than December, helping offset a 7.3% drop in handle to $858.2 million.

Year-over-year Pennsylvania sports betting comparisons were more positive as handle was up 11.1% and gross revenue surged 68.5% versus the opening month of 2023. Promotional bonuses and credits were up 48.2% to $27.8 million, with FanDuel accounting for more than half of that outlay. The state was able to levy taxes on $69.9 million in adjusted gross revenue, resulting in an inflow of $23.8 million into state coffers.

FanDuel crosses $10 billion total handle

In addition to clearing $1 billion in revenue by $1.9 million, FanDuel also crossed the $10 billion threshold for all-time handle. Nearly 15% of that amount has come over the last four months, with FanDuel surpassing $300 million handle each month since October.

Its promotional spend of $14.5 million was telling as the amount was eight times the $1.9 million outlay ESPN BET provided its bettors in January. The PENN Entertainment-owned sportsbook pulled back significantly on credits — spend was down more than $6.1 million from December — as its handle declined 7.7% to $74.9 million. That was still good for third among the state’s mobile operators, and the 9.3% mobile market share was well beyond its 7% first-year target.

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In between the pair was DraftKings, whose monthly revenue topped $24 million for a second consecutive month despite a 10% downturn in handle from December to $210 million. Its 11.5% hold was its second-best in Pennsylvania, trailing only the 11.6% attained in August 2022 against $90.7 million worth of wagers.

BetMGM claimed the No. 4 spots in handle and revenue, clearing $6 million in the latter for the first time since last March thanks to an all-time high win rate of 13.2% against $45.6 million handle. January’s action snapped a four-month streak with $50 million handle for BetMGM, which topped $150 million in all-time gross winnings.

Caesars rounded out the top five for handle at $38.1 million, but its $814,000 in winnings was only good for eighth as BetRivers, Fanatics Sportsbook, and BetPARX all reached seven figures in revenue. BetRivers claimed close to $2.6 million from its Pittsburgh-based wagers and another $836,000 in Philadelphia; Fanatics Sportsbook won $1.4 million and BetPARX collected $1.2 million.

When combining both Pittsburgh and Philadelphia venues, BetRivers cleared $2 billion in all-time handle and $140 million in gross revenue. January marked the third time in the last nine months the hold on mobile wagering bettered 11.5% as digital revenue totaled an all-time monthly high of $93.8 million against handle of $808.8 million.

Philadelphia epicenter for retail revenue

The Eagles losing 32-9 to the Tampa Bay Buccaneers in the NFC wild-card round provided a boost for Philadelphia brick-and-mortar sportsbooks. PARX casino led all retail operators with close to $885,000 in revenue thanks to a 14.5% hold, while SugarHouse and the South Philadelphia Race & Sportsbook combined for another $670,000.

Retail revenue totaled $3.9 million, as the 18 venues across the state handled $49.4 million to fashion a 7.9% win rate. Handle was down 6.1% compared to January 2023, but revenue ticked up 30.6% as the hold was more than 2.2 percentage points better.





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