PA Sports Betting Figures Surge, Led By FanDuel
Bettors in Pennsylvania have jumped at the chance to bet on football legally, pushing sports betting handle through the $100 million mark for the first time.
According to official data, the handle from retail and online sportsbooks was up 84% to $109 million in August, up from the previous record of $59.3 million in July, while operators raked in $9.9 million in revenue, up from $5.1 million.
State and local governments also benefited from August’s ‘win’, clearing $2.1 million in tax revenue from sports betting – the state takes a lofty 34% of revenue in taxes, with a further 2% going to local governments.
And it’s mobile betting that is proving the real moneymaker, accounting for more than 75% of the action for the month. As we reported a few weeks ago, NJ and PA gambling is on the increase, big time.
FanDuel the clear market leader
In its first full month of digital operation, the DFS giant booked $37.8 million in PA wagers under its license at the Valley Forge Casino – about 35% of the total statewide. The handle yielded a win of $3.1 million in revenue.
“Having expanded our leadership position across New Jersey and now Pennsylvania, we will continue to bring our top mobile betting platform to the expanding U.S. market,” the company said in a statement.
SugarHouse was the first online sportsbook to go live in May and while it has been usurped at the top of the table by FanDuel, the operator still enjoyed a record month.
They and the third-placed sportsbook, BetRivers, both of which are owned by Rush Street Gaming, combined to generate $41.9 million in sports bets and $4.1 million in revenue. Far from shabby.
Fox Bet increases options for PA bettors
Competition for market supremacy should remain fierce in the coming months and the early-September launch of Fox Bet – the first sports media-branded real-money sportsbook in any state – provides bettors with yet another option.
The Fox Bet app is unique in that it is connected to interactive Fox Sports programming, which features commentary and insight from sports analysts and journalists. That might lead bettors to convert their expert knowledge into placing sharper bets.
Either way the rolling out of a fifth online sportsbook (more on the way this fall) is a further boost to Pennsylvania’s booming gambling industry and should ensure the Keystone State continues to turn in month-over-month records.
Comparisons with New Jersey
Whilst Pennsylvania’s figures for August pale in comparison to those in New Jersey online betting, the latter’s sports betting crown could be under threat before long and, based on population alone, you’d expect PA to eventually dwarf its neighbor to the east.
As in NJ, geography is playing its part in PA with those books closest to the masses seeing most of the action.
The location of SugarHouse’s Fishtown casino, which is just along the Delaware River in Philadelphia, sets it apart from the rest, while Rivers enjoys a profitable monopoly on the Pittsburgh market with the BetRivers brand.
It will take a few more months before we get a clear picture of PA’s online gambling market, but the early numbers are very positive and further exponential growth in the coming months can be expected.
Watch this space for more news and do hit us up on Twitter or get in touch as we’d love to hear your opinions on legal online gambling in the U.S.
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