Pennsylvania's 11.6% hold percentage was an improvement from June's 9%, but it wasn't all good in the Keystone State as the handle also dropped 9% from the previous month.
market saw $338.4 million in bets last month, a 9% decrease from June’s $373.1. However, the year-over-year handle was $2 million higher than last year — a 0.5% increase.
The operators improved on their hold percentage, which made a large impact as summer sports limit the number of bets coming in. July’s 11.6% hold was much higher than June’s 9%, and that jump, paired with a drop in promotional credits, was more than enough to push July’s revenue above June’s . The state turned that into $10.9 million for themselves — a nearly 40% rebound from the previous month and brick-and-mortar locations is vast. When looking at the total action in July, online wagers were 93% of the total handle.
While the retail locations saw fewer wagers, they did not have a problem with keeping them. Their 13% hold was higher than the online operators, who held a respectable 11.5%.
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