Pennsylvania Reports $750 Million In December Sports Betting Handle

Pennsylvania online and land-based betting remained high in December as the month resulted in $750 million in total sports betting handle. Online casinos also had a very successful month as they reported their highest monthly revenue, which reached $127.6 million.

Records Were Shattered in 2021

Even though the sports betting handle fell a bit short compared to November,  it was still one of the best in history. That led to a US record in terms of tax revenue, which reached $122.5 million. PlayPennsylvania distributed these numbers.

December 2020 resulted in a total handle of $548.6 million, meaning that the numbers from December 2021 are 36.8% higher. The betting volume in December 2021 was the third-highest in Pennsylvania’s history.

Katie Kohler, a PlayPennsylvania analyst, stated that wagering has remained at the top for December, and it brought a decent ending to the year.

In total, wagering doubled in Pennsylvania in 2021 as sportsbooks in the state produced $6.5 billion in wagers, which is a whopping 83% increase from 2020, when the total handle was $3.6 billion. Gross revenue reached $505.5 million, which is 87.3% higher than 2020.

Out of all operators in the state, FanDuel took the number 1 spot in December as this sportsbook recorded a $249,754,200 handle. DraftKings ranked second with $206,413,971, Barstool came in with 63,074,853, BetMGM had a total handle of $83,708,825 and BetRivers closed off the top 5 with $37,598,873. FanDuel was also the top-ranked operator in terms of revenue, as it reached $13,984,990.

A majority of the handle of all of the aforementioned operators came from online sports betting. FanDuel’s online handle was $246,808,375, DraftKings’ online handle was $204,716,271, Barstool recorded $61,401,883, BetMGM recorded $83,546,032 and BetRivers had $27,583,596 in online betting handle.

Dustin Gouker, a Network analyst, said that no other state has been as successful as Pennsylvania when it comes to turning sports betting into a stable and consistent revenue source.

Online Casinos in Pennsylvania Also Peaked

In December, the gross gaming revenue of online casinos and poker rooms reached $127.6 million and topped the October record of $117 million. Compared to December 2020, the revenue increased by 17.6%.

Online casino wagering increased from $3.8 billion in November to $4.3 billion in December. The total amount paid in state taxes and local assessments was $42.5 million. The gross revenue of online casinos in Pennsylvania for 2021 reached $1.3 billion, which is a massive increase compared to 2020. In 2020, online casino revenue was 91.1% lower, as it stood at $680.2 million. State taxes in 2021 reached $466.4 million.

Kohler commented on the growth of online casinos by saying that their expansion “seems almost endless.” He thinks that even though revenue almost doubled from 2020, these platforms are yet to reach the ceiling.

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