Pennsylvania sets monthly record for sports betting revenue

Sports betting in Pennsylvania set new records in October.
Sports betting in Pennsylvania set new records in October.

Sports betting revenues in October rose 12 per cent on year-on-year and 12.7 per cent month-on-month.

US.- Pennsylvania generated $320.2m in sports betting revenue in October, breaking previous records set in the state.

The figure increased by 12 per cent year-on-year from $283.7m in October 2019, and by 12.7 per cent month-on-month from $284.2m in September.

Operators paid $13.2m in sports betting taxes.

The state also set a new record for its sports betting handle, with $525.8m wagers made in October. That beats the previous record of $462.8m set in September.

Dustin Gouker, an analyst for PlayPennsylvania.com, said: “Local interest is a clear factor in the swell in betting this fall, pushing Pennsylvania to a record with a sports schedule in October that more resembled normal than any since March.

“Pennsylvania could conceivably catch Nevada in a matter of months to become the nation’s No. 2 market, especially if the Steelers continue to roll and the Eagles can somehow make a playoff run to spike local interest.”

Sports betting has been live in Pennsylvania for two years. Sports betting continues to expand in other states. Most recently, Tennessee legalised the activity and saw a $27m handle in its first week of wagering.