Sports betting handle near the $350m mark in Pennsylvania
Online betting has helped sports betting handle in Pennsylvania reach the US$240 million mark in October, and is likely to keep rising.
US.- The legalisation of sports betting in the US has helped local sports to increase fan engagement, and the financial numbers from October seem to prove it. Pennsylvania’s sports betting handle was US$241.1 million.
The US$241.1 million figure represents a 24% increase when compared to September’s US$194.5 million handle. If Pennsylvania continues with this successful rate, it could reach the US$250 million mark by the end of the year.
October’s sports wagering taxable revenue from both retail and online outlets was US$14.9 million. That figure is 0.40% higher than the previous month of September 2019 when revenue was US$14.8 million.
“Pennsylvania’s online market is finally maturing, and that is certainly the most important reason for the growth in the state’s handle,” said Jessica Welman, sports betting analyst for PlayPennsylvania.com. “The path for more growth is clearer now. A major brand like DraftKings coming online, coupled with intense interest in the Sixers, Flyers, and Penguins, will almost certainly give a boost to the already steady growth we’ve been seeing.”
Total gaming revenue up 11% in October
The figures from the Pennsylvania Gaming Control Board show that total gaming revenue rose 11% to US$283 million in October. Total tax revenue generated collectively through all forms of gaming and fantasy contests was US$116.4 million during October of 2019 compared to US$108.2 in October 2018.
Parx Casino was the facility that registered the biggest share of the total revenue with US$54.6 million, representing a 15.9% increase from the US$47 million that the facility had achieved in October 2018. Wind Creek Bethlehem totalled US$39.6 million, or a 2.67 million, while Rivers Casino Pittsburgh and Rivers Casino Philadelphia totalled US$32 million and US$30.2 million respectively.
