Pennsylvania Sports Betting Surges as Handle Tops $300M in November
Posted on: December 17, 2019, 11:59h.
Last updated on: December 18, 2019, 09:43h.
Sports betting in Pennsylvania continues its ascent, as the state’s sportsbooks took in nearly $316.5 million in wagers for November. An announcement Tuesday from the Pennsylvania Gaming Control Board said it marked a 31 percent increase in activity from October.
While the handle jumped sharply for the sixth consecutive month, revenues continued to plateau. The books reported $14.7 million in adjusted gross revenue (AGR), down about $230,000 from October. September’s AGR also totaled $14.9 million.
As the PGCB notes, the AGR only reflects bets that were cashed out during the month. So, futures betting on such an event as the Super Bowl is reflected in November’s handle, but the revenues from it will not be reported until February.
At 36 percent of AGR, Pennsylvania has the highest tax rate of any sports betting state. However, thanks largely to the expansion of online sports betting there, the Keystone State still has positioned itself as the No. 3 market, behind only New Jersey and Nevada.
In November, the sports betting tax generated nearly $5.3 million, with $5 million going to the state coffers.
Mobile Sports Betting Dominates in Pennsylvania
Online bets accounted for 84.3 percent of all sports wagers placed in Pennsylvania in November, totaling $266.7 million. It’s the third straight month the online share has topped 80 percent.
FanDuel remains the top sportsbook in the state. While it has a retail sportsbook at the Valley Forge Casino in suburban Philadelphia, the mobile app processed $149.7 million of the book’s $153 million bets for November. The online app posted $5.6 million in AGR for the month.
Rivers Casino Philadelphia, formerly known as SugarHouse, handled $32.4 million of its $41.3 million in bets online. The Rivers Casino in Pittsburgh took in $30.6 million of its $39.5 million online. Combined, the Rivers sports betting apps reported an AGR of nearly $2.5 million
DraftKings launched its online sports betting app in the state on Nov. 7 through a partnership with The Meadows Casino in North Strabane Township. In just over three weeks, the app handled $16.2 million in bets. DraftKings reported an AGR of nearly $1.1 million.
Unibet also launched its online sportsbook in partnership with the Mohegan Sun Pocono racino. It reported a handle of $1.9 million. However, due to more than $73,000 in promotional credits, the app reported a loss of more than $46,000.
In its second full month of operation, FOX Bet reported a handle of $13.5 million, with slightly more than $1 million in AGR.
BetAmerica Set to Launch Online
Online sports betting should continue to grow in December, as another mobile app is ready to launch.
BetAmerica, the sportsbook owned by Churchill Downs Inc., will complete its three-day testing period on Wednesday, PGCB communications director Doug Harbach told Casino.org. While the state allows online casino gaming, Harbach said BetAmerica’s launch right now is just tied to sports betting.
The sportsbook opened a brick-and-mortar sportsbook at Presque Isle Downs, a Churchill Downs racetrack located in Erie, in August.
Related News Articles
Related News Articles
- September 19, 2020 — 28 Comments—
- September 25, 2020 — 14 Comments—