Pennsylvania Turns Up The Jets In Time For NFL Sports Betting

by | Sep 17, 2019 3:02 pm | Revenue | 0 comments

Pennsylvania Turns Up The Jets In Time For NFL Sports Betting

Pennsylvania sports betting has been gassed up and taking off since the start of football season.

  • Pennsylvania sports betting hit a record high for betting handle, revenue, and taxes during August.
  • With mobile betting and the NFL season back, bettors have more opportunities to place wagers.
  • FanDuel Sportsbook at Valley Forge Casino led all Pennsylvania books with over $37 million in total wagers.

HARRISBURG, Pa. – Pennsylvania sports betting is getting into full swing just in time for the NFL season. As one of the last states to launch legal sports betting in 2018, Pennsylvania sportsbooks have just finally begun hitting their stride.

August was a record month for Pennsylvania, as the monthly betting handle, sportsbook revenue, and tax contributions hit an all-time high.

Over $109 million was wagered in August – the first time the state broke $100 million and nearly double the previous record set during July ($59.3 million).

With this, the sportsbooks were able to keep 9.07% of the betting handle, allowing the books to hold just under $10 million in monthly sports betting revenue before the required tax contributions to the state. Between the state and city sports betting taxes, Pennsylvania governments collected over $3.5 million in August alone.

These record numbers came from every sportsbook increasing their betting handle from July to August. Furthermore, only one of the books – Oaks Race & Sportsbook – didn’t see the revenue increase from to month to month, indicating a strong performance headed by those who bet on the NFL in preseason.

This handle was so high in fact, that it combined for more than the betting handle for both June and July regarding Pennsylvania sportsbooks. August has helped Pennsylvania provide its best quarterly report, despite only two of the three months for 2019 Q3 having been reported.

To harp on it further, over a quarter of the Pennsylvania sports betting handle (since their November launch) occurred in August alone. The revenue followed suit, accounting for a similar percentage since the state’s launch.

Many thanks can be given to Valley Forge Sportsbook, who led the way for legal sports betting in August, with a betting handle of $37.8 million. This FanDuel property increased their betting handle by over $30 million from July to August and contributed over $1 million to the state in tax contributions by themselves for the month.

Sugarhouse Casino wasn’t far behind, bringing in a total of $30.3 million. With the most recent data reported, Sugarhouse became the first sportsbook in Pennsylvania (since launch) to see over $100 million wagered at their establishment and also became the first book to make over $10 million in revenue.

Battling from the start, Rivers Casino Pittsburgh is just behind Sugarhouse with $94.4 million in a since-launch betting handle and $8.5 million in revenue.

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