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Pennsylvania has been setting records across the board in the gambling space in October. Sports Wagering operators produced a state record of $968.5 million in handle last month. reported the Pennsylvania Gaming Control Board.
To boot, Pennsylvania online sportsbooks recorded $91.8 million in revenue, not a record but still impressive. Handle increased both month-over-month and year-over-year at percentages of 13.9% and 12.9%, respectively.
October is a rich month of sports with full slates of NFL and college football, along with the MLB playoffs and the NBA and NHL returning.
October sports betting at a glance
- Handle: $968.5 million (13.9% MoM increase; 12.9% YoY increase)
- Revenue: $91.8 million (27.9% MoM increase)
- Adjusted Gross Revenue (taxable): $60.7 million (121.5% YoY increase)
- Hold: 9.5% (up from 8.4% in September)
- Percent of bets placed online: 95.6%
- Promotional credits: $31.2 million
- September sports betting tax revenue: $20.6 million
- State and local entities tax revenue: $1.2 million
- Top sports betting app by handle: FanDuel Sportsbook with $357.6 million
- Top sports betting app by revenue (taxable): FanDuel with $33.7 million
Fanatics maintains third spot
For a third straight month, Fanatics Sportsbook has outpaced BetMGM Sportsbook in the handle department.
That’s significant considering that football season is the most important for operators. Fanatics produced $66.3 million to BetMGM’s $59.9 million.
Fanatics trails only the market leaders, FanDuel Sportsbook and DraftKings Sportsbook.
Market leaders both gain market share
The start of football season is when the betting season heats up for operators. FanDuel has led the PA sports wagering market for years. However, DraftKings has quietly closed the gap.
In September, FanDuel recorded 35% market share compared to DraftKings’ 29.8% share. Both of those numbers increased last month, as FanDuel delivered 36.9% and DraftKings 31.0%.
The leader of the Keystone State remains FanDuel. However, DraftKings is on the operator’s heels.
Lifetime and yearly milestones reached
The PA sports wagering market reached important benchmarks in October. The state achieved more than $42 billion in lifetime handle and $7 billion year-to-date.
FanDuel leads in both categories, generating $16 billion and $2.6 billion, respectively. To no surprise, DraftKings is second with $10.6 billion and $1.9 billion, respectively.
November is an even bigger sports month as football season takes shape and the NBA and NHL calendars are in full swing, too. It’s possible the industry could crack $1 billion in handle next month.
PA sportsbook handle by operator in October
| Licensee | Online Brand | Handle | Revenue | Hold | Statle/Local Tax |
|---|---|---|---|---|---|
| Valley Forge | FanDuel | $357,584,958 | $33,667,261 | 9.4% | $6,568,533 |
| Hollywood Meadows | DraftKings | $300,098,428 | $27,357,439 | 9.1% | $7,838,475 |
| Hollywood York | Fanatics | $66,347,249 | $5,838,905 | 8.8% | $1,297,448 |
| Hollywood Morgantown | BetMGM | $59,858,306 | $6,088,414 | 10.2% | $1,427,273 |
| Presque Isle Downs | bet365 | $41,731,080 | $4,443,769 | 10.6% | $349,784 |
| Hollywood Penn National | ESPN Bet | $38,364,861 | $3,854,162 | 10.0% | $1,040,125 |
| Rivers Pittsburgh | BetRivers | $31,123,716 | $3,178,903 | 10.2% | $940,110 |
| Harrah's Philadelphia | Caesars | $27,878,974 | $2,268,596 | 8.1% | $656,821 |
| Parx | betParx | $17,409,598 | $1,682,832 | 9.7% | $554,635 |
| Rivers Philadelphia | PlaySugarHouse | $15,545,375 | $1,389,321 | 8.9% | $422,688 |
| Live Philadelphia | Betway | $6,850,860 | $1,386,025 | 20.2% | $498,969 |
| Live Pittsburgh | $1,796,912 | $280,597 | 15.6% | $101,015 | |
| Mohegan Lehigh Valley | $1,268,526 | $204,893 | 16.2% | $73,762 | |
| Mohegan Pennsylvania | $1,004,103 | $184,201 | 18.3% | $66,312 | |
| Wind Creek | Wind Creek | $889,073 | $80,090 | 9.0% | $28,832 |
| Mount Airy | $633,054 | ($92,535) | -14.6% | ($33,312) | |
| Parx Shippensburg | $122,641 | $31,238 | 25.5% | $11,246 | |
| Total | $968,507,714 | $91,844,111 | 9.5% | $21,842,716 |
