Pennsylvania Sportsbooks Win Almost $10 Million In …

FanDuel Sportsbook PA

PA sports betting revenue

If New Jersey is going to hold onto its sports betting crown in the east, it’s going to have to stave off a serious challenge from Pennsylvania.

Regulated PA sportsbooks booked $109 million in wagers in August — by far their best month to date — yielding a win of $9.9 million across retail and online channels.

Those numbers still pale in comparison to those from the Garden State, but it’s hardly apples to apples. While the NJ market has filled out with options over the last year, Pennsylvania had just four online sportsbooks reporting for the month.

PA sports betting, by the numbers

Property Handle Revenue Tax
Valley Forge $ 37,822,688 $ 3,117,801 $ 798,391
SugarHouse $ 30,390,890 $ 2,540,337 $ 443,541
Rivers $ 21,762,952 $ 1,657,320 $ 76,505
Parx $ 10,988,663 $ 1,343,518 $ 440,614
Hollywood $ 2,055,786 $ 309,171 $ 111,301
South Philly $ 1,997,420 $ 337,680 $ 121,565
Harrah's $ 1,879,243 $ 251,296 $ 90,467
Presque Isle Downs $ 1,197,553 $ 282,384 $ 101,659
Oaks $ 942,856 $ 48,230 $ 17,363


  • Handle: $109,038,051
  • Revenue: $9,887,738
  • Taxes: $2,201,406

Trends emerging in PA sports betting

Sports betting has been around since late last year in Pennsylvania, but the addition of online betting this summer marks the start of competitive operations. Based on population alone, you’d expect PA to eventually dwarf its neighbor to the east.

So far, things seem to be headed in that direction.

The internet accounted for more than 75% of the action for the month in PA, bringing the market into line with long-term expectations. A little more than a year after online sports betting began in New Jersey, the balance is closer to 85-15.

Geography is also playing its expected role in the early PA numbers. As is the case in NJ, the books closest to the masses see the most action, setting retail operations at SugarHouse in Philadelphia apart from the rest.

Rivers, meanwhile, also owns a profitable monopoly on the Pittsburgh market with the BetRivers brand. The sister property to SugarHouse earned the bronze medal for August with $21.8 million in wagers.

All hail, FanDuel Sportsbook PA

Those trends aren’t the only ones migrating across the border, either.

In its first full month of digital operation, FanDuel Sportsbook is already the clear leader in PA.

The reigning champion from NJ booked $37.8 million in PA wagers under the license of Valley Forge for the month — about 35% of the total statewide. The overwhelming majority of that action ($35.3 million; 93%) came via the website and mobile app.

That handle yielded a win of $3.1 million, which also leads the league. Its early dominance comes as no surprise to those who paid attention to New Jersey.

SugarHouse Sportsbook is hereby relegated to second place for August, recording $30.4 million in handle and $2.5 million in revenue. SugarHouse was the first online sportsbook to go live in the state in May, but the crowning of FanDuel Sportsbook in August ends its brief run atop the market.

Original Article Source link

Relevant news

0 0 votes
Article Rating
Notify of

Inline Feedbacks
View all comments
Would love your thoughts, please comment.x