PA Sports Betting Hits New High With Almost $60 Million In Bets, Two-Thirds Of It Online

The era of Pennsylvania online sports betting is officially here. The latest in PA revenue and handle figures reflect just how much the market will grow with the presence of mobile betting.

New record for PA sportsbooks

The state saw $59.3 million in bets placed in July, a new monthly high for the state. Given that this is just the second full month of online wagering being legal in PA, that should shock no one. New records will be set each month for the foreseeable future.

Already, online sportsbooks wagering has displaced betting at physical sportsbooks as bettors’ preferred method of doing business. Online betting accounted for $38.9 million of the total or roughly two-thirds of all bets in the state.

The state’s operator generated more than $5 million in sports betting revenue for the month, although that number shrinks to $2.8 million when taking into account promotional credits given out by the sportsbooks. The state collected almost a million dollars in taxes.

The previous high for amount bet came last month at $46 million.

It’s SugarHouse and everyone else

SugarHouse Sportsbook PA is the early leader for online betting.

Just under half of all sports betting in the state is taking place at SugarHouse, either at its retail sportsbooks or online: $26.4 million. The vast majority of — $22 million — is taking place online.

SugarHouse had just about $2 million in revenue, although that number decreases to $1 million when you take out promotional money given out.

When you combine it with the BetRivers brand, which is also operated by Rush Street Interactive, the dominance becomes even more pronounced. Rivers Casino generated $14.3 million in handle online and in-person, meaning it and SugarHouse combine right now for two-thirds of the market.

Here comes FanDuel Sportsbook … and the rest of the market

FanDuel Sportsbook was only open for a few days in July, but it’s apparent it’s going to be a major player quickly.

FanDuel, under the license of Valley Forge Casino, generated $3.3 million in handle in just nine days of operation. And some of those days were during a testing phase.

That’s almost as much handle as the online sportsbook from Parx Casino did all month: $3.6 million. FanDuel had the advantage of being in the Apple App Store for iPhones from launch, something that Parx did not have at launch.

You can see the full handle and revenue numbers from the Pennsylvania Gaming Control Board here.

The post PA Sports Betting Hits New High With Almost $60 Million In Bets, Two-Thirds Of It Online appeared first on Legal Sports Report.

Original source: https://www.legalsportsreport.com/35162/pa-sports-betting-hits-new-high-in-july/

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