Clicky

Pennsylvania Sports Betting Posts More Growth - PennsylvaniaCasinos.com News : PennsylvaniaCasinos.com News
  • 1 views
  • 3 minutes read
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

Pennsylvania Casinos Begin Closure Due to Coronavirus

As the recent coronavirus outbreak continues to spread across the globe, the United States is beginning to feel the pinch. A number of changes have already been implemented in a bid to deal with the issue. In Pennsylvania, one of the ways that are being used to combat the spread of the virus is the […]

Caesars Finally Launches Online Sportsbook in Pennsylvania

The Keystone State’s blossoming sports betting industry has welcomed yet another operator. After a very long wait, Caesars Entertainment, one of the most popular gaming brands on the planet, will be officially launching an online sportsbook after the soft-launch phase elapses. Caesars Online Sportsbook, the new digital sportsbook, launched its testing phase on March 10. […]

How to Keep the Betting Action Going in the NFL Offseason

The end of February marked the end of the NFL season and for the fans of the league, this marked the beginning of a rather dull offseason period. Now the huge gap between the NFL seasons can be quite frustrating because, aside from the games, the fans also miss out on other exciting stuff such […]

PGCB Recognizes March as Gambling Awareness Month

The Pennsylvania Gaming Control Board (PGCB) is now intensifying its efforts to promote gambling awareness in the Keystone State in a bid to protect its residents from gambling-related harm. By declaring March as the Problem Gambling Awareness Month, the state gaming regulator hopes to clean up its gambling industry and make it safer for both […]

Pennsylvania State Police Seize Dozens of ‘Illegal’ Gambling Machines

Lawmakers in the Keystone State are still in the process of reviewing the legality of “skill games” that have been rapidly spreading across the state. Their spread is so significant that the state lottery has raised concerns citing the fact that these machines are cutting into Pennsylvania’s ability to bring in revenue which is mostly […]

Similar Stories in Gambling

Pennsylvania Casinos Begin Closure Due to Coronavirus

As the recent coronavirus outbreak continues to spread across the globe, the United States is beginning to feel the pinch. A number of changes have already been implemented in a bid to deal with the issue. In Pennsylvania, one of the ways that are being used to combat the spread of the virus is the […]

Caesars Finally Launches Online Sportsbook in Pennsylvania

The Keystone State’s blossoming sports betting industry has welcomed yet another operator. After a very long wait, Caesars Entertainment, one of the most popular gaming brands on the planet, will be officially launching an online sportsbook after the soft-launch phase elapses. Caesars Online Sportsbook, the new digital sportsbook, launched its testing phase on March 10. […]

How to Keep the Betting Action Going in the NFL Offseason

The end of February marked the end of the NFL season and for the fans of the league, this marked the beginning of a rather dull offseason period. Now the huge gap between the NFL seasons can be quite frustrating because, aside from the games, the fans also miss out on other exciting stuff such […]

PGCB Recognizes March as Gambling Awareness Month

The Pennsylvania Gaming Control Board (PGCB) is now intensifying its efforts to promote gambling awareness in the Keystone State in a bid to protect its residents from gambling-related harm. By declaring March as the Problem Gambling Awareness Month, the state gaming regulator hopes to clean up its gambling industry and make it safer for both […]