Clicky

Pennsylvania Sports Betting Posts More Growth - PennsylvaniaCasinos.com News : PennsylvaniaCasinos.com News
pile-of-cash
Published on
Update on

The Pennsylvania Gaming Control Board (PGCB) has recently released the revenue figures for sports betting in the Keystone State. According to the figures released by the gaming regulator, the state’s sports betting sector handled a whopping $241.2 million in bets. This was a 24 percent increase from the $194.5 million that was recorded in the previous month.

From the amount that was wagered, the sportsbooks generated $19.1 million in revenue. From that, $5.1 million went to the state as tax revenue. This is the second straight month that Pennsylvania has received more than $5 million in revenue.

Online Gambling Takes the Lead

Unsurprisingly, the state’s five online sportsbooks accounted for $198.7 million of the total amount wagered in October. That is a whopping 82 percent of Pennsylvania’s handle. Since online gambling went live in the state in July, it has grown tremendously and now leads the way in terms of bringing the industry to maturity. Its growth has been meteoric but this was all expected considering just how big the state’s population is and the huge demand for online betting options.

In fact, online gambling is set to take center stage in the state’s lucrative and thriving sports betting market. A number of brands including DraftKings and FanDuel have capitalized on this and their presence is expected to fuel even more growth.

As it stands, FanDuel is the king of sports betting in Pennsylvania. The online and mobile sports betting operator handles $113.9 million in bets last month. It also generated a total of $8.1 million in revenue. Coming in at a distant with a combined handle of $56.6 million were BetRivers and Play SugarHouse. Fox Bet came in last but this is quite understandable since the newly launched online sports betting operation is still trying to adjust to the new market.

Retail Sports Betting

The highest retail sports betting handle in the state was posted by Rivers Pittsburg – it handles $7.7 million. Coming in at the second spot was the Parx Casino sportsbook which handled $7.5 million. At the third position was Rivers Philadelphia which handled $7.2 million in sports bets.

Retail sports betting as a whole went up by a modest $6 million and some improvements are expected in the near future. This is because the retail sportsbooks have been investing in rebranding and massive improvements that are meant to attract the attention of bettors. To make it even better, some of these retail sportsbooks will also be promoting online and mobile sports betting through their services at the venues. This is definitely a win-win situation for both online and retail sports betting.

Latest Headlines

Will Pennsylvania Be the Next Esports Betting Hotspot?

Pennsylvania could soon become the latest U.S. state to embrace esports betting, thanks to a newly proposed bill aimed at expanding the state’s regulated wagering market. State Representative Ed Neilson has introduced House Bill 1636, a legislative push that seeks to amend Pennsylvania’s 2017 Gaming Expansion Act to include esports betting. This is Neilson’s second […]

Pennsylvania Casinos Set for Modernization as Slot Machine Requirements Face Major Overhaul

Pennsylvania’s gaming industry is on the verge of a significant shift as Senate Bill 840 moves closer to becoming law. The bill, which recently passed in the state Senate, proposes reducing the mandatory minimum number of slot machines at Category 1 and 2 casinos from 1,500 to 1,000, offering operators much-needed flexibility to stay competitive […]

PA’s Skill Game Controversy Heats Up with Hundreds of Machines Removed

As it turns out, March was a big month for Pennsylvania’s gambling scene, but not for the usual reasons. Instead of new online casino launches or sportsbook promotions, the spotlight turned to a statewide crackdown on illegal gambling devices. Pennsylvania Attorney General Dave Sunday, in partnership with the Pennsylvania State Police, spearheaded a coordinated sweep […]

New Fanatics Casino App Now Live in Pennsylvania

Fanatics, best known for its sports merchandise empire, has officially launched its standalone online casino app for Pennsylvania players. The new platform allows direct access to casino games without needing to go through the Fanatics Sportsbook, marking a significant step in the company’s expansion into the Keystone State’s growing iGaming market. While the web version […]

WSOP Online Breaks New Ground with Four-State Network

The WSOP Online platform, operated by Caesars Entertainment, Inc., has broken new ground in the regulated US poker business by bringing together players from four different states. Now that Pennsylvania has joined Nevada, New Jersey, and Michigan in providing a common player pool across all four states, Caesars has positioned WSOP Online as the only site […]

Similar Stories in Gambling

Pennsylvania Casinos Set for Modernization as Slot Machine Requirements Face Major Overhaul

Pennsylvania’s gaming industry is on the verge of a significant shift as Senate Bill 840 moves closer to becoming law. The bill, which recently passed in the state Senate, proposes reducing the mandatory minimum number of slot machines at Category 1 and 2 casinos from 1,500 to 1,000, offering operators much-needed flexibility to stay competitive […]

PA’s Skill Game Controversy Heats Up with Hundreds of Machines Removed

As it turns out, March was a big month for Pennsylvania’s gambling scene, but not for the usual reasons. Instead of new online casino launches or sportsbook promotions, the spotlight turned to a statewide crackdown on illegal gambling devices. Pennsylvania Attorney General Dave Sunday, in partnership with the Pennsylvania State Police, spearheaded a coordinated sweep […]

New Fanatics Casino App Now Live in Pennsylvania

Fanatics, best known for its sports merchandise empire, has officially launched its standalone online casino app for Pennsylvania players. The new platform allows direct access to casino games without needing to go through the Fanatics Sportsbook, marking a significant step in the company’s expansion into the Keystone State’s growing iGaming market. While the web version […]

WSOP Online Breaks New Ground with Four-State Network

The WSOP Online platform, operated by Caesars Entertainment, Inc., has broken new ground in the regulated US poker business by bringing together players from four different states. Now that Pennsylvania has joined Nevada, New Jersey, and Michigan in providing a common player pool across all four states, Caesars has positioned WSOP Online as the only site […]