In August 2019, sports bettor in Pennsylvania placed a whopping $109 million in sports bets, an 84 percent increase from the amount that was wagered in July. According to the revenue report that was released by the Pennsylvania Gaming Control Board (PGCB) the online gambling sector was the biggest contributor to the revenue. In total, online and retail bets racked up $9.9 million in revenue.
Out of the total amount that was wagered on sports, $83.2 million was accounted for by online sports betting – this is over 75 percent of the all the sports bets that were placed in August. As it turns out, one online sportsbook operator was the biggest contributor, accounting for over one-third of all the sports bets.
FanDuel Sportsbook at Valley Force Casino, the sportsbook in question, racked up $35.3 million in online bets, a development that saw it yield a total of $2.9 million revenue and propelled it to the top spot in the state’s gaming market, a position that was previously held by SugarHouse Casino.
“Having expanded our leadership position across New Jersey and now Pennsylvania, we will continue to bring our top mobile betting platform to the expanding U.S. market,” reads a statement from FanDuel.
Now, the sports betting operator touts itself as the leading force in the Pennsylvanian sports betting market and this is evidenced by the fact that it handled 42 percent of the total sports bets and captured 46 percent of the state’s online sports betting revenue.
More Growth Expected in The State
Pennsylvania’s recently launched online gambling sector has been growing at a very rapid pace and as a result, there has been rising dominance of online sportsbooks over the retails sports betting facilities. This was not too surprising especially considering the growing demand for online and mobile betting solutions in Pennsylvania which is one of the biggest gambling markets in the United States.
This growth is set to continue thanks to the launch of more online sports betting options like the Fox Bet mobile app that will certainly make the sector even more competitive and appealing to the bettors.
In the meantime, the competition for market dominance in the Keystone State’s online gambling market is set to become even more fierce in the next few months. This is mostly because the sports betting market is set to grow even bigger thanks to interest from industry bigwigs such as The Stars Group and FOX Sports.
Here’s a breakdown of the August sports betting revenue in Pennsylvania:
|Casino or Off-Track Betting Facility||Total Handle||Total Revenue||Online Handle||Online Revenue||Retail Handle||Retail Revenue|
|Valley Forge Casino Resort||$37,822,688||$2,217,754||$35,279,681||$2,042,424||$2,543,007||$175,330|
|Hollywood Casino at Penn National Race Course||$2,055,786||$309,171||0||0||$2,055,786||$309,171|
|South Philadelphia Race and Sportsbook||$1,997,420||$337,680||0||0||$1,997,420||$337,680|
|Presque Isle Downs||$1,197,553||$282,384||0||0||$1,197,553||$282,384|
|Oaks Race and Sportsbook||$942,856||$48,230||0||0||$942,856||$48,230|