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Pennsylvania’s online and retail sportsbooks generated more than $200 million in bets in a single month for the first time, as the state’s bettors increasingly turned online in October. And with DraftKings joining the online market in November, and with hockey, basketball, and football all in season, much bigger months lie ahead, according to analysts for PlayPennsylvania.com.

“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.”

Pennsylvania’s sportsbooks hit a new high in October by accepting $241.2 million in bets in October, up 24% from September’s $194.5 million handle, according to official data released Monday. Those bets generated $19.1 million in revenue, down slightly from September’s $19.3 million win, leading to an injection of $5.1 million into state coffers.

Pennsylvania’s five online sportsbooks generated $198.7 million in October, representing 82% of the state’s total handle. That puts Pennsylvania in line with New Jersey, where about 85% of all bets originate online.

Pennsylvania bettors have quickly adopted online sports betting — growing from 65% of all bets in July.

“Online betting will unquestionably be the driver to future growth in Pennsylvania,” said Dustin Gouker, lead analyst for PlayPennsylvania.com. “Most encouraging is that Pennsylvania’s online market is still expanding with new brands, including DraftKings. That should only encourage more growth.”

FanDuel Sportsbook at Valley Forge Casino continues to dominate the online market, accepting a record $113.9 million in October bets, up from $85.1 million in September. FanDuel generated $8.1 million in revenue, up from $7.1 million in August. FanDuel was followed in the online market by:

• Rivers-Philadelphia, formerly SugarHouse ($30 million in online handle, down from $31.2 million in September; $2.5 million revenue, down from $2.6 million in September)
• Rivers-Pittsburgh ($26.6 million handle, up from $23.5 million; $1.6 million revenue, down from $1.9 million)
• Parx Casino ($18.4 million handle, up from $13.8 million; $1.7 million revenue, up from $1.8 million)
• Fox Bet at Mount Airy ($9.8 million in online handle, up from $4.5 million; $591,309 revenue, up from $268,844 in revenue)

Rivers-Pittsburgh continued to lead the retail market, accepting $7.7 million in bets in October, up from $7.3 million in September. That yielded $699,611 in revenue, down from $957,791. Rivers was followed by:

• Parx ($7.5 million handle, up from $7.3 million in September; $1 million revenue, down from $1.1 million in September)
• Rivers Philadelphia, formerly SugarHouse ($ 7.2 million handle, up from $6.5 million; $813,839 revenue, down from $1.1 million)
• Valley Forge Casino ($4.1 million handle, up from $3.4 million; $155,730 revenue, up from $376,243)
• Presque Isle ($3.2 million handle, up from $2.2 million; $194,829 revenue, down from $495,548)
• Hollywood Casino at Penn National Race Course ($3 million handle, down from $3.3 million; $350,083 revenue, down from $590,006)
• South Philadelphia Race and Sportsbook ($2.8 million handle, up from $2.3 million; $402,272 revenue, up from $490,153)
• Harrah’s Philadelphia ($2.3 million handle, up from $2.2 million; $277,295 revenue, down from $347,873)
• Mohegan ($2.1 million handle, up from 294,723; $305,697 revenue, up from $74,970)
• Oaks Race and Sportsbook ($1.1 million handle, down from $1.2 million; $162,127 revenue, up from $146,041)
• Mount Airy ($641,087 handle, up from $372,418 handle; $86,800 revenue, up from $45,568 in revenue)

“FanDuel’s grip on the online market could loosen with increased competition from Fox Bet and DraftKings,” Gouker said. “Overall, though, the increased competition will be a benefit to bettors, giving them more choices and spurring product innovation.”

Online casino revenue grows with poker on the way

Pennsylvania’s four online casinos combined to generate $4.9 million in gross revenue in October, up 20% from $4.1 million in September. Online casino wagers grew 42% to $200.2 million, from $140.8 million in September, and generated $1.5 million in state taxes.

Rivers-Philadelphia took the market lead with $2.5 million in revenue on $85.6 million in bets, which was up from $1.1 million in September revenue on $57.3 million in wagers. Rivers-Philadelphia was followed by:

• Penn National ($1.8 million in revenue, even with September; $56.6 million in bets, up from $41.1 million).
• Parx ($610,187 in revenue, down from $1.3 million; $58 million in wagers, up from $42.4 million)

Significantly, PokerStars Casino launched in November, which helped usher in online poker to Pennsylvania. And a fifth online casino, Unibet, also joined the mix.

“The online casino market is rapidly changing, and it should continue to grow,” Welman said. “Online poker is worth watching. It has largely been forgotten in New Jersey, so Pennsylvania could buck that trend if it can sustain interest.”

For more information on the revenue generated by Pennsylvania sports betting, visit www.playpennsylvania.com/revenue.

About the PlayUSA.com Network:
The PlayUSA.com Network is a leading source for news, analysis, and research related to the market for regulated online gaming in the United States. With a presence in over a dozen states, PlayUSA.com and its state-focused branches (including PlayNJ.com and PlayPennsylvania.com) produce daily original reporting, publish in-depth research, and offer player advocacy tools related to the advancement of safe, licensed, and legal online gaming options for consumers. Based in Las Vegas, the PlayUSA Network is independently owned and operated, with no affiliations to any casino — commercial, tribal, online, or otherwise.

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This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Pennsylvania sportsbooks rake in more than 0 million in bets in October