Pennsylvania sports betting revenue sets records in September

  • The total handle for Pennsylvania sports betting in September surpassed $462.8 million.
  • NFL, NBA, and NHL betting gave Pennsylvania record-shattering sports betting numbers.

HARRISBURG, Pa.The sports betting revenue numbers are in for the month of September in Pennsylvania and records have been broken.

The Pennsylvania Gaming Control Board (PGCB) has released the September sports betting revenue report for the state.

What Do The Numbers Say?

Pennsylvania sports betting reached new levels of engagement in September. During September, Pennsylvania saw a sports betting handle total of $462.8 million. Compared to August, that number was just $365 million. That is a near $100 million jump in handle for Pennsylvania.

During September, there was plenty of sports at play. The NHL playoffs, the NBA playoffs, the NFL season was starting, and MLB games were all in action. With so many sports happening during September, it is no wonder that handle was so high for the month.

But that does not mean that Pennsylvania particularly profited from the increase of handle. September revenue was $18.3 million. In August, the revenue report was $27.6 million. That is a near $10 million loss in comparison. So, although people were wagering more in September, they were also winning more.

That is unfortunate for the state but a huge win for sports bettors in Pennsylvania. That means that the state collected $2.1 million in taxes during September. A large majority of the sports betting handle and taxes came from online sports betting.

Online sports betting saw $414.1 million in handle while retail sportsbooks only saw $48.7 million in handle. Even with the COVID-19 (coronavirus) pandemic going on, the difference would likely still be similar.

Sports bettors have shown throughout the country that they prefer online and mobile sports betting more than they do at traditional retail sportsbooks. States that are considering legalizing sports betting are now looking at revenue reports around the U.S. and understand that mobile wagering is necessary for bigger profits.

Either way, Pennsylvania has a sports betting model that is working for them even during an ongoing pandemic. October numbers may decline a bit due to the fact that less sports are being played. But having a full month of NFL betting may make up for that.

News tags: | | | | |