The Keystone State of Pennsylvania officially has a booming legal sports wagering industry. The official figures for the state’s October betting handle was released recently by the Pennsylvania Gaming Control Board (PGCB) and its was a great one. Pennsylvania‘s online and retail sportsbooks combined to propel sports betting revenues to more than $525 for the first time in October.
The huge number represents a new monthly high, and Pennsylvania’s third consecutive record sports wagering month, and also marked the two-year anniversary of legal sports wagering in the state as bettors swarmed sportsbooks for football, both at the college football level and the NFL.
Breaking Down PA’s October Sports Wagering Numbers
In total for October, the Keystone State’s online and retail sportsbooks generated a record $525.8 million in wagers for the month, while the handle was up an incredible 118% from the $241.2 million for October 2019, and topping the previous record of $462.8 million recorded in September by exactly $63 million.
In terms of revenue generated by the state’s sportsbooks, Pennsylvania took in $47.8 million in revenue for their operators, an enormous increase on the year-on-year figure of $19 million taken in October 2019.
A total of $12.5 million came into the coffers of consolidated state tax revenue, and an additional $735 539 was divided into local shares.
In what is now becoming more than a fad or global pandemic trend, online sports betting in Pennsylvania continues to develop into the major form of sports betting activity and the most profitable.
Online sports wagering accounted for $472.25 million (or around 90%) of the Pennsylvanian total betting handle in October, continuing the trend of sports betting being dominated by online sportsbooks in Pennsylvania.
How did the individual sportsbooks fare in Pennsylvania?
Of the online sportsbooks and their land-based casino partners, FanDuel Online Sportsbook licensed through the land-based facility at the Valley Forge Casino was the Keystone State’s biggest winner, recording $181 million in sports bets (35% of all PA sports wagers) for the month, up around 7% for the month from the $168 million in wagers for September. Other great results were recorded by;
- DraftKings and their licensed partner, The Meadows recording $121 million in handle to make up approximately 23% Pennsylvania market share. From that amount, DraftKings went on to hit $6.5 million in revenue, their highest revenue report since Pennsylvania sports wagering begun.
- Barstool Sportsbook continued their climb up the rankings, recording $63.8 million in betting handle which translates to just over $11% of the total market.
- Bet Rivers / Rivers Pittsburgh – Total Handle – $36.1 million.
- SugarHouse / Rivers Philadelphia – Total Handle – $32.4 million.
- Parx – Total Handle – $29.8 million.
- Fox Bet / Mount Airy Casino – Total Handle – $29 million.
- Unibet / Mohegan Sun Pocono – Total Handle – $11.7 million.
- Bet America / Presque Isle Downs – Total Handle – $4.79 million.
- Caesars / Harrah’s Philadelphia – Total Handle – $3.85 million.
According to leading Pennsylvania gaming industry analyst Dustin Gouker, the Keystone State appears set to become one of the top sports wagering states in the nation;
“Pennsylvania could conceivably catch Nevada in a matter of months to become the nation’s No. 2 market, especially if the Steelers continue to roll and the Eagles can somehow make a playoff run to spike local interest.”
At 10-0 (at the time of writing), the Pittsburgh Steelers keep generating unprecedented interest in football betting in the Keystone State. With every victory, the Steelers push inexorably towards a perfect season and sports wagering is building as the possibility becomes more and more like reality than fantasy.