Pennsylvania’s sports betting market has begun to bounce back in July but is still lagging behind New Jersey’s market.
According to the latest figures from the Pennsylvania Gaming Control Board (PGCB) sports betting handle in the Keystone State grew to $164.8m in July, up from $89m in June.
In terms of revenue, the state’s sports betting operators generated a combined revenue of $13.7m up from $8m in June. Pennsylvania’s revenue also marked a 179.3% year-on-year increase on the $2.9m wagered last year.
The majority of betting activity took place online despite the fact that land-based casinos in the state have reopened. According to the report, 94.3% of the state’s handle came from online bets while 90.7% of the revenue came from online betting.
Breaking down the figures
The Meadows Casino and its online sports betting partner DraftKings led the market in July after generating $1.9m in revenue from $39.6m in bets. The operator launched its online platform in November 2019, which means there are no year-on-year figures to compare. However, the revenue is up from the $1.3m generated in June.
The Valley Forge Casino and FanDuel came in second place after generating $1.4m in revenue from $69.7m in sports wagers. The land-based sportsbook at Valley Forge made a loss of $55,551 after bettors wagered $940,851 at the venue.
Rivers Philadelphia came in third place with $1.3m in revenue from $14.3m in bets while Parx Casino generated $1.1m from $11.3m in sports bets.
None of the other operators in the state saw revenue surpass $1m however Rivers Pittsburgh came close after generating $998,658 from sports betting activity.
Pennsylvania vs New Jersey
While every state with some form of legal sports betting has seen their sports betting market take a hit due to the coronavirus pandemic some have managed to recover incredibly fast.
Although Pennsylvania’s $164.8m in handle is significant considering the impact of the pandemic and the lack of major league sports to bet on, it falls incredibly short of the $315.1m wagered in New Jersey at the same time.
This may be attributed to the fact that New York residents often travel across state lines to place sports bets in the Garden State. Last year, New Yorkers wagered an estimated $837m in New Jersey. However, it may also be attributed to the fact that New Jersey’s market has been live longer than Pennsylvania and that there are many more operators actively offering sports betting in the Garden State.
So far in 2020, New Jersey sportsbooks have processed $1.9bn in sports bets while Pennsylvanians have wagered $1.2bn on sports.