PA Sports Betting Revenue


 

Yet another month of sports betting brings new records…again. For PA online sports betting, the sports betting monies were flowing in November. Over $316.4M was bet in November, combined between mobile and retail sportsbooks.

The total amount of money placed via online/mobile in PA was $266,740,919, which is over 84.25% of the overall handle in PAThis number is right on par with New Jersey, who is approaching over 85% in online betting handle.

The overall sports betting revenue for October was $20,570,772. Revenue derived from online/mobile was $17,276,483. That comes out to just under 84% of the revenue.

Sports Betting Handle: Retail vs. Online

1. Total Sports Betting Handle: $316,468,264 ($241.2mm in October)

2. Online/Mobile Handle: $266,740,919 ($198.6mm in October)

3. Retail Betting Handle: $49,727,345 ($42,497,797)

(data from PGCB)

November Sports Betting Revenue

1. Retail Betting: $3,294,289 ($4.6M in October)

2. Online/Mobile: $17,276,483 ($14.48M in October)

3. Total Sports Betting Revenue: $20,570,772 ($19,116,777 in October)

Revenue hit $20M total in November, a new record despite just a “small” increase over October. This revenue of course is heavily taxed in Pennsylvania, helping the states budget.

Mobile betting bringing in the majority of sports betting revenue is why it was (and is) so key for mobile operations for all books, as bettors love to bet on their mobile devices.

PA Sportsbook Wars November 2019 Handle:

FanDuel Sportsbook is dominating Pennsylvania.

In November alone, FanDuel Sportsbook had $149.6M in online bets, which is up nearly a third from October. Very significant with DraftKings and Unibet Sportsbooks entering the online betting market.

Considering the full handle in Pennsylvania online betting was $266.74M, $149.6M is insane. That is just over 56% of the mobile betting handle, and 47.3% of the total betting handle, for those keeping score at home.

FanDuel Sportsbook is not slowing down, especially with the latest news of being the sportsbook of choice in the new Live! Casino and Hotel in South Philadelphia.

Here’s a look at the “Top 10” operator rankings in terms of Pennsylvania sports betting handle in November.

1. FanDuel Sportsbook via Valley Forge Casino: $152,988,559
2. Rivers Philly (SugarHouse license): $41,286,786
3. Rivers Pittsburgh: $39,471,161
4. Parx: $30,473,226
5. DraftKings Sportsbook (via Meadows): $16,247,801
6. FoxBet (via Mount Airy): $13,495,778
7. Presque Isle Downs (retail only): $3,678,898
8. Unibet Sportsbook (via Mohegan): $1,881,498

 

DraftKings and Unibet Sportsbook Impact in PA?

In November, DraftKings and Unibet joined the mobile sports betting market in Pennsylvania, and both will make a dent in the market share.

With that being said, FanDuel still holds a dominant share of the mobile betting with over 50% of the total mobile handle. Remember, it pays to be first.

DraftKings Sportsbook did $16.25M in November, which is a great month for a book’s first. Keep an eye during the NFL Playoffs, as their market share will grow and grow.

As for Unibet Sportsbook, coming in eighth behind the retail-only Presque Isle Downs at only $1.88M seems concerning but that number was only for around two weeks of action having entered PA halfway through the month. Unibet’s brand will be a very attractive one for bettors in Pennsylvania, so be sure to expect to see them rise through the ranks.

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