- The sportsbooks in Pennsylvania have set a new monthly betting handle record in four straight months.
- Valley Forge’s FanDuel Sportsbook collected 45.5% of all money bet in Pennsylvania during September.
- Two additional sportsbooks launched in September: the Mount Airy Casino Resort and the Mohegan Sun Pocono.
HARRISBURG, Pa. – Sports bettors in Pennsylvania know exactly what they are doing, as the 11 Pennsylvania sportsbooks had an opportunity to capitalize on a much higher revenue stream for the month of September.
In the report released by the Pennsylvania Gaming Control Board, one of the most notable numbers that stand out is regarding the 7.67% hold percentage.
From every legal sports betting state that has reported for the month, sportsbooks had been averaging a winning margin of 10.6% before Pennsylvania’s numbers were thrown in the mix.
Still, the successful betting didn’t stop the state from smashing previous records. These are the first real NFL and college football seasons that bettors in Pennsylvania have had the opportunity to risk some money. During their mid-November launch through the Super Bowl, only six books were operational and none of them offered an online betting product.
Now, five of the state’s books offer online sports betting, and the results have definitely been positive.
With a betting handle in September of $194.5 million – almost double the previous monthly record – over 81% of that came from online bettors ($158.2 million).
Many thanks should be given to FanDuel Sportsbook at Valley Forge Casino Resort, which comprised almost 54% of the online action just by themselves. The $85.1 million risked online at FanDuel Sportsbook helped Valley Forge become the strong market leader within the state, as an additional $3.4 million was wagered onsite.
On the year, the edge still goes to Sugarhouse Casino, though, this casino has totaled the second-highest betting handle behind Valley Forge for the second consecutive month.
With $37.6 million in total wagers, Sugarhouse beat out Rivers Casino Pittsburgh ($30.8 million) and Parx Casino ($21.1 million), which can be labeled as “the Big 4”.
The Big 4 took in 91.6% of all betting action in Pennsylvania during September, but only 83.7% of the sportsbooks’ revenue. This indicates that the bettors in these locations are not only betting at higher amounts than the other seven books, but they are also doing so quite successfully.
For reference, the other seven sportsbooks in the state averaged a betting handle of just $2.33 million and a monthly revenue total of $345,969.
Mount Airy Casino Resort launched their book in September, but that didn’t stop them from moving above this pack of seven. The casino ended the month with the highest revenue of these books in part to them being the only one outside of the Big 4 that offers legal sports betting online.
The Mohegan Sun Pocono also launched in September but they saw the opposite effect of Mount Airy, ending the month with the lowest handle of every Pennsylvania sportsbook.
After it was all said and done, the sportsbooks were able to keep $14.9 million in revenue before transferring $5.07 million to the state and another near $300,000 to the local jurisdictions hosting sportsbooks.
On the year, the state’s sportsbooks eclipsed a combined revenue total of $50 million and the local tax contributions are a few thousand dollars above the $1 million mark.
Since the launch of sports betting in Pennsylvania, over $600 million has been wagered in the state with nearly $18 million given back in taxes to the state government.
News tags: FanDuel | Mohegan Sun Pocono | Mount Airy Casino Resort | NFL | Parx Casino | Pennsylvania | Pennsylvania Gaming Control Board | Rivers Casino Pittsburgh | SugarHouse Casino | Super Bowl | Valley Forge Casino Resort
Michael began writing as an NBA content writer and has spent time scouting college basketball for Florida State University under Leonard Hamilton and the University of Alabama under Anthony Grant. A graduate of both schools, he covers topics focused on legal sports betting, betting odds, and casino reviews. Michael likes to golf, play basketball, hike, and kayak when not glued to the TV watching NBA games.