PA Sports Betting Passes $1 Billion Mark
Pennsylvania marked one year of legal sports betting by passing the $1 billion milestone in total wagers, on the heels of more than $300 million in handle for November. Leading the way, surprisingly, was the comparatively smaller FanDuel sportsbook a Valley Forge Casino (l).
The state of Pennsylvania celebrated one year of legal sports betting since Hollywood Casino at Penn National Gaming opened the first retail book, and celebrated in a big way—the state’s retail and online sportsbooks passed the $1 billion mark in total handle.
The milestone was achieved thanks to $316.4 million in wagers recorded for November. Handle has jumped every month since April, and in leaps and bounds since August, when handle rose from July’s $59 million to $109 million. The NFL season has accelerated sports betting handle, which rose from $194.5 million in September to $241.2 million in October and a record $316.5 million in November.
More than 84 percent of wagers have been made online, mostly through mobile devices. Pennsylvania‘s surging mobile sports betting market topped $266 million in handle last month, another record for the state. Mobile handle jumped 34.3 percent over the previous record from October. Overall handle grew 31.2 percent while total revenue rose 15.9 percent to $20.6 million, according to the state Gaming Control Board.
Leading the sport betting surge was comparatively tiny Valley Forge Casino, along with its partner, FanDuel. Considering both retail and online betting, Valley Forge accounting for 36 percent of total sports betting handle. Rivers Philadelphia (formerly SugarHouse), one of the first retail sportsbooks and the first Pennsylvania online sportsbook, generated almost 21 percent of bets.