PA sports betting handle hit $365m in August

Pennsylvania’s sports betting market saw massive growth in August.

According to the latest figures from the Pennsylvania Gaming Control Board (PGCB) bettors in the state wagered a record $365m on sporting events in August.

August’s handle was up 121.5% on the $164.8m wagered in July and 234.7% wagered the same time last year.

Revenue in August amounted to $27.6m up from the $13.7m generated in July, however, according to the state report, a third of this revenue came from promotional credits.

Mobile sports betting in Pennsylvania remained the most popular way to bet in the Keystone State with 88% of bets being placed via the internet. Bettors in the state wagered $321.6 via online sportsbooks and $43.4m in-person at casino sportsbooks.

In terms of revenue, online betting contributed $24.8m to the state’s total while land-based betting generated just $2.8m.

Breaking down the figures

DraftKings, FanDuel and Rush Street continued to dominate Pennsylvania’s sports betting market in August.

The Valley Forge Casino and its online partner FanDuel led the market after processing $149.2m in bets, $144.6m came from FanDuel’s online platform. In terms of revenue, the licensee generated $12.6m from its processed bets.

DraftKings and Meadows Casino came in second place after generating $4.9m in revenue from $88.2m in bets.

Rush Street’s two betting brands SugarHouse and BetRivers combined to take third place in terms of handle after processing $57.4m in sports bets. These two brands generated a combined $4.6m in sports betting revenue in August.

Penn National to launch Barstool sportsbook

Although the market is currently dominated by three major operators, Penn National Gaming will be looking to take a share of the market with its Barstool Sportsbook.

The regional casino operator launched its Barstool-branded sportsbook in the state of Pennsylvania earlier this week and it will be made available to everyone in the Keystone State in time for this weekend.

In January, Penn National entered a sports betting and online casino partnership with Barstool Sports, which saw the casino operator acquire a 36% stake in the sports media company. 

Under the deal, Penn became  Barstool Sports’ “exclusive gaming partner” for up to 40 years and has the sole right to use the digital sports media brand for all of its online and land-based sports betting and online casino products.

Penn is hoping that Barstool’s 66m monthly users will help increase its sports betting market share across the US.

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