The Pennsylvania Gaming Control Board (PGCB) recently granted DraftKings a sportsbetting license, allowing the company to become the official sportsbook operator for Penn National. This is a very exciting venture, as punters across the state have been eagerly waiting to find out if DraftKings would come to Pennsylvania.
Currently, the DraftKings-branded sportsbook is undergoing a testing period. It is anticipated the platform will go live sometime in early November.
“We think DraftKings is an ideal partner for the Meadows,” says Chris Rodgers, Penn National Head of Development. “It’s a well-known, trusted brand. We expect them to be a market leader in Pennsylvania as well.”
Meadows is working hard to thrive in Pennsylvania’s betting market, and its deal with DraftKings will certainly help boost the brand’s profile. As part of Meadow’s plans to capture a significant portion of PA’s sportbetting market, the company recently opened up a retail sportsbook space where Vibe Lounge used to be. It is part of a $1.5 million renovation that features an impressive setup with:
- Over 15 televisions
- 5 betting cashiers
- 18 self-service betting kiosks
- Food and drink services
- Two horse racing betting kiosks
A Very Competitive Betting Market
Pennsylvania’s betting market hasn’t been open very long, but it is already thriving. In September 2019, sportsbooks across the state have taken nearly $200 million in wagers. It made for a record performance, nearly doubling the wagers in August ($109 million).
FanDuel was the most successful sportsbook in Pennsylvania, which bodes well for DraftKings. Since FanDuel is primarily known as a fantasy sports operator, its ability to taken in $89 million in wagers shows that DraftKings has the potential to perform incredibly well across the state.
It appears that punters across Pennsylvania are very eager to wager on their favorite teams, and they are only going to increase their activity as the NFL season continues. The NHL’s 2019-20 kicked off at the start of October and the NBA season is only one week in. So, sportsbooks in Pennsylvania are going to see plenty of wagers in the coming weeks. DraftKings will be entering the PA betting market at the perfect time.
DraftKings has already seen tremendous success in New Jersey’s betting market. While FanDuel is still the most popular sportsbook in the state, DraftKings managed to bring in $4.8 million in wagers. Revenue for the rest of New Jersey’s sportsbooks paled in comparison, so we imagine that the company will continue its success in the American betting market as it makes its way into Pennsylvania.