Pennsylvania sports betting handle hits new record in September

Pennsylvania’s sports betting handle hit a record high in September topping its previous record in August.

According to the latest figures from the Pennsylvania Gaming Control Board (PGCB) bettors in the Keystone State wagered $462.8m on sporting events in September, setting a new record for the state.

September’s handle represented a 26.8% month-on-month increase and marked the first time the state’s handle has passed $400m.

Although the state set a new record for handle, sportsbook revenue did not break any new records. The state report shows that sportsbooks in the state generated $18.3m in sports betting revenue representing a 3.9% hold and a significant drop on the $27.6m generated in August.

The total revenue figure includes $12m in promotional credits used by operators to attract new customers. Taxable revenue amounted to just $6.3m a significant drop on the $18.3m in taxable revenue generated in August.

Breaking down the figures

Looking at the PGCB’s figures for individual operators, the Valley Forge Casino and its online partner FanDuel was the most popular choice among bettors after processing $171.2m in sports bets. The land-based sportsbook at Valley Forge processed $3.1m in bets, while FanDuel’s online sportsbook processed $168m in bets. In terms of revenue, both online and land-based operations combine for $6.9m.

Meadows and its online partner DraftKings processed a combined total of $118.8m in bets with $2.3m coming from its land-based sportsbook and the online sportsbook contributing the remaining $116.5m. The licensee generated just $1.4m in revenue.

Rush Street Interactive’s two BetRivers brands processed a combined total of $64m in sports wagers and held onto just $3.6m.

Penn National Gaming’s Barstool Sportsbook shot to fourth place in Pennsylvania’s betting market after launching part way through September. The sportsbook took $32.3m in bets but lost $2.4m in revenue after providing customers with $2.2m in promotional credits.

Another state record in September

With the return of sporting events in September and the addition of the NBA and NHL playoffs, several states with legal betting have seen a massive jump in handle.

New Jersey set a new record for the entire US betting industry after sportsbooks in the Garden State processed $748.6m in wagers.

Several other states, including Indiana, Iowa, Oregon and West Virginia set new records for sports betting handle in September. Other markets such as New Hampshire, Rhode Island and Nevada have yet to publish their figures.

Colorado, Illinois, Michigan and Washington DC also published strong figures in September but these jurisdictions are still in the process of ramping up their markets.

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