Pennsylvania Sports Betting Handle In August Surges By 121.5%

• Pennsylvania sports betting handle reached $365 million in August, with most of it coming from online and through betting apps.
• August saw the NBA playoffs, NHL playoffs, and MLB regular season all taking place simultaneously, giving bettors plenty of options.
• Barstool Sportsbook recently launched in the state, but the PA sports betting market is already dominated by FanDuel.

PHILADELPHIA – Pennsylvania sports betting revenue and handle are on a major upswing according to the Pennsylvania Gaming Control Board (PGCB). The Keystone State’s August numbers show an upward trend similar to every state in the country.

Specifically, the PA sports betting handle reached $365 million in August which is an all-time record handle for the state. Of that record handle, sportsbooks were able to maintain revenue of $27.6 million.

A few different factors led to the surge in betting. The first was the fact that the most popular professional American sports were playing such as the NBA, NHL, and MLB. The second factor was the fact that casino sportsbooks in PA were reopened in August.

But, the opening of retail sportsbooks had little to do in the grand scheme of things because 88% of all sports bets in August came from online betting sites and sportsbook apps.

But a majority of that 88% came from one site in particular. That site is FanDuel.

How The PA Sports Betting Pie Was Split

The August reports indicate that sports bettors in the Keystone State clearly have their favorites sportsbooks.

Of the $365 million in sports wagers, FanDuel took in $149.2 million. That’s a little over 40% which is close to half of all sports wagers in the state. PA sports bettors have always shown affection for the online sportsbook.

In August of 2019, the state’s sports betting handle reached $109 million. At the time, FanDuel contributed $37.8 million to that total handle. PlaySugarhouse wasn’t too far behind having garnered $30.3 million in sports wagers and held about a third of the market.

Fast forward to August 2020, and FanDuel was able to increase its market share despite there being more competition in the state. Playsugarhouse and BetRivers (both owned by Rush Street Gaming) combined only hold 15.7% market share.

Other players to enter the market since then include Unibet and FOX Bet. FOX Bet is trying to get a better hold on the market as they recently signed a multi-year deal with the Philadelphia Eagles. That deal includes a FOX Bet branded studio in Lincoln Financial Field.

They will need all the help they can get because they only held 6.2% of the entire state’s betting handle last month.

There is also a new challenger coming into the ring in the form of Barstool Sportsbook.

The Penn National Gaming entity is hoping that it can capitalize on Barstool Sports’ 66 million user base. Given the loyalty that the Barstool brand has, it could be enough to gain them substantial sports betting revenue.

But a year has gone by and no one has been able to dethrone FanDuel in Pennsylvania. The September report released next month will give bettors a better understanding of where Barstool sits.

News tags: Barstool Sportsbook | DraftKings | FanDuel | FOX Bet | Pennsylvania | sports betting revenue