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Heidi Specter September 17, 2019 3 min read
PA Generates Solid Sports Betting Results in August
- Pennsylvania sports betting handle hits $109 million all-time high
- FanDuel’s sportsbook leads the way
- Mobile betting accounts for 75% of all wagers placed
Sports betting handle in Pennsylvania reached a new all-time handle with $109 million worth of wagers placed in August 2019.
Pennsylvania Sports Betting Results All-Time High in August 2019
Pennsylvania booked $109 million worth of wagers in August, the best month to date, with $9.9 million generated through retail channels. Mobile sports dominated the Keystone State yet another month, and now that the NFL season is back, more bets are coming in.
Overall, 9 sportsbooks registered betting activity in August, with Valley Forge leading the way in terms of total handle. The property claimed $37,822,688 in total handle and paid $798,391 in taxes.
Second came SugarHouse, which managed to collect $30,390,890 and turned $2,540,337 in revenue. The taxes SugarHouse paid reached $443,541.
Rivers had the third best total handle with $21,762,952 and the property paid the smallest tax of all properties, with just $76,505, bagging the difference of the $1,657,320 revenue for the month. Parx did well with $10,988,633 and total taxes paid worth $440,614.
All other sportsbooks claimed sub-$2 million in terms of total handle, bar Hollywood which registered $2,055,786. All remaining properties, to name South Philly, Harrah’s, Presque Isle Downs, and Oaks claimed between $942,856 and $1,997, 420. Oaks paid the smallest monthly tax on revenue, with just $17,363, but also claimed only $48,230 back in revenue.
All in all, this amounted to:
- Total handle: $109,038,051
- Revenue: $9,887,738
- Taxes: $2,201,406
FanDuel Leads the Way in Mobile, So Does Mobile
Pennsylvania proved that sports betting via handheld device is the future. Estimated 75% of all sports wagers were placed using a mobile device. Meanwhile, New Jersey has registered 85% of its total wagers placed via mobile, which means that PA has still room to improve.
Comparing the Garden State and the Keystone State, there is a clear distinction in the geography of the states, with most of NJ’s sportsbooks being close to megapolises whereas PA’s betting venues such as Presque Isle Downs having fewer people to draw from.
If one thing became evident based on the latest data, it is that FanDuel is the unchallenged leader in Pennsylvania, with its operations surging by 84%. The DraftKings competitor managed to soak up $37.8 million worth of wagers which amounted to 35% of all bets placed across the entire state.
Online Casinos Do Well in PA
Another point of interest in the Keystone State was the total amount handled by online casinos which hit $3,428,640 million in august in terms of gross gaming revenue (GGR). Overall, $111.8 million was spent on interactive gambling, with $62 million going directly to online slots. Pennsylvania has one of the steepest tax rates for slots at 54%.
Meanwhile, the Pennsylvania Gaming Control Board (PGCB) reported a 6.3% increase in the total revenue in august, commenting on revenue generated year-over-year.
As an avid follower of sports and the newly recognized industry of esports, Heidi uses her expertise to help the team push out the best sports content. She is also continually learning more about the gambling industry in general and pushes out a variety of content.
Sports September 17, 2019
Sports September 17, 2019