Pennsylvania Took Nearly $60 Million in Sports Bets in July
Pennsylvania reportedly saw $59.3 million worth of sports bets placed in the month of July, which was a new record for the state’s fledgling market. Considering July was just the second full month for legal sports betting in the state, the fact that they set a record isn’t all that surprising. It’s safe to say that record won’t last much longer, especially with football season on the horizon.
Online betting in Pennsylvania has already surpassed land-based sportsbooks. Online betting accounted for nearly $39 million of the total, which is about two-thirds of all betting that took place in the state. The state-sponsored betting operator racked up over $5 million in betting revenue in July, though the real number is only about $2.8 million once promotional credits handed out by sportsbooks are taken into account. Pennsylvania collected nearly $1 million in taxes as well. About $46 million was wagered in June, which was the first full month of legalized sports betting in the state.
SugarHouse Sportsbook PA is lapping the field when it comes to generating revenue. A little less than half of all sports bets placed ($26.4 million) in Pennsylvania were wagered at SugarHouse, either at the physical location or over the internet. $22 million of that total came via online bets. Combining SugarHouse’s totals with the Bet Rivers brand—both of which are operated by Rush Street Interactive—the numbers are even more staggering. Rivers Casino generated a little over $14 million in total online and in-person handle, which means Rivers and SugarHouse combine for over two-thirds of the entire betting market in the state.
SugarHouse and Rivers each put up about $1 million in promotional credits, while FanDuel accounted for $120,000 and Parx gave away $90,000 worth of credits.
FanDuel Barging In
FanDuel Sportsbook will gain some ground moving forward, however. The new sportsbook, under the license of Valley Forge Casino, was only in operation for a few days in July before the calendar flipped to August. However, FanDuel was still able to generate $3.3 million in handle despite being open for just nine total days last month.
FanDuel was able to generate nearly as much in nine days as Parx Casino ($3.6 million) registered for the entire month. One advantage for FanDuel came via its mobile operation. The FanDuel Sportsbook app was available in the iPhone App Store at the time of its launch, which could not be said about Parx.
Experts believe that the upcoming football season will result in the record being broken once again in August. Experts believe football will help generate nearly eight figures worth of handle for the state in the month of August, a number which should continue to rise in September once the NFL’s regular season gets underway and the college football schedule is in full swing.
Online betting should continue to grow, as well, considering all four operators now run fully-functioning mobile apps in addition to their land-based and traditional online operations. August will also bring the opening of the Presque Isle Downs’ retail sportsbook, as well as a couple of others that may open their doors before the NFL’s regular season begins on September 5th.
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