PA Sports Betting Revenue


 

The January numbers are out! With much anticipation, the Pennsylvania Gaming Control Board has released the sports betting numbers for the first month of the new decade, and the results are impressive. The total betting handle was over $348M, with over $31M in revenue. This is terrific news, because of course the regular season of the NFL and NCAAF had ended, and the initial boom from the NBA starting has faded as well. So to see such a high number in Pennsylvania is quite positive. With only a handful of PA Sportsbooks, nearly $350M in January is nothing to scoff at.

Let’s take a look at the most important parts of the latest report from the Pennsylvania Gaming Control Board (PGCB) for January, 2020.

 

PA Sports Betting Growth Continues in January 2020

Month Handle Revenue
December 2019 $342,560,389 $17,459,091
January 2020 $348,381,708 $31,580,824
Growth $5,821,319 $14,121,733
Growth Percentage 1.7% 80.88%

 

With the NFL and NCAAF ending, it was widely expected that the betting handle could decrease from December (a very popular betting month). With that said, the betting handle actually increased 1.7% to nearly $350M. As far as revenue, that rocketed up to $31.6M, up 80.88% from December. Take that with a grain of salt though, as much of that could be Super Bowl betting, which the event took place in February. This makes February revenue numbers very interesting when released next month. Given that online betting in Pennsylvania is still in its infancy stage, seeing this growth is quite impressive for the state.

 

Online Sports Betting Nears 90% in PA

Online betting is king, as it rules New Jersey with over 85% of the total bets. Pennsylvania took it to the next level in January, with 88.6% of all bets coming via mobile devices, rather than in-person. Take a look at this chart.

 

Month Retail Handle Mobile Handle Total Handle Mobile Percentage
September 2019 $36,350,260 $158,154,361 $194,504,621 81.31%
October 2019 $42,497,797 $198,688,269 $241,186,066 82.38%
November 2019 $49,727,345 $266,740,919 $316,468,264 84.29%
December 2019 $45,115,344 $297,445,045 $342,560,389 86.83%
January 2020 $39,776,018 $308,605,690 $348,381,708 88.58%

 

As you can see, the retail handle has dropped for the second consecutive month but the total handle has continued to increase. In January, it was the first time we saw over $300M in mobile betting handle, and a massive 88.58% percent of the bets. To other states that have not yet acted on mobile sports betting (looking at you, New York), this should be the sole information graphic used to prove it is worth it.

 

FanDuel Sportsbook PA Leads, DraftKings Sportsbook Climbing Fast

Competition is a key element of any market, so seeing DraftKings Sportsbook (via Meadows Casino) grow is huge for Pennsylvania. FanDuel Sportsbook still leads at $156M in betting handle (with $153M coming online) for January. But, DraftKings Sportsbook is continuing its climbing, with a huge $60M month, with over $58.5M coming online. DraftKings has caught up to BetRivers (both PHL and PIT), as they combined for $67M in January, with DraftKings just behind them at $60M. Other books that offer online and retail betting reported the following in betting handle in January 2020:

  • Parx Casino – $27.9M ($21.26M online)
  • Mount Airy Casino Resort (FOXBet) – $16.1M ($15.4M online)
  • Mohegun Sun Pocono (Unibet) – $6.71M (4.79M online)
  • Presque Isle Downs and Casino (BetAmerica) – $3.43M ($1.15M online)

With the state of Pennsylvania having 12 total casinos that offer betting, and only eight that offer online betting, nearly $350M in betting handle and $31.5M in revenue is terrific.

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