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Pennsylvania Shows Success For September Sportsbooks

Pennsylvania-Sportsbook-Success-Blog-Post-featured-image

The Eastern American State or Pennsylvania have reported a profitable September for their Online and retail Sportsbooks. It hit nearly $578.8 million seeing their aggregated volume rise by 25.1% year-on-year.

According to a report earlier this week from PlayPennsylvania.com quoting official statistics from the Pennsylvania Gaming Control Board, this calculation represents the second-highest ever since sportsbetting went live in Pennsylvania. This related to a swell of 66.1% when compared with the previous month’s $348.5 million calculation. According to Cision PR Newswire, the spike was assisted by the start of the newest National Football League (NFL) season and saw related gross profits achieve the nearly all-time high of $48.1 million, which barely missed the January $49.3 million record.

Sportsbook Growth

Sportsbook-news-articlePlayPennsylvania.com stated that the success of the online and retail sportsbooks in the last month in Pennsylvania generated $28.3 million in taxable revenues. They went on the say that these operations have now moved $4.3 billion in wagers since the beginning of the year, which signifies 45.6% of the $9.4 billion that has been wagered since resident sports betting opened in November of 2018.

A report from PlayPennsylvania.com stated that online sportsbooks in Pennsylvania received $527.4 million in wagers for the month of September as the service from FanDuel Group took the top spot with 34.8% of $183.7 million and related gross returns of $21.2 million. Interestingly, DraftKings Incorporated took second place in September thanks to $164.7 million in handle and takings of $5.1 million with Barstool-branded app and associate of Penn National Gaming Incorporated grabbing the third spot due to their $52.8 million in bets and wagers of $2.6 million.

Gouker: “Barstool hasn’t quite achieved the ‘world domination’ that founder Dave Portnoy proclaimed when the app launched but it has performed well. No operator has seriously challenged the dominance of FanDuel Group and DraftKings Incorporated yet but Barstool has at least proven to be an important player in Pennsylvania.”

Land-based Sports Betting

Aggregated Pennsylvania handle hit $51.3 million in September according to a further report by PlayPennsylvania.com Concerning land-based sportsbetting. This showed an increase of 5.3% year-on-year, while related gross profits grew in leaps and bounds, a whopping 41.1% to $7.2 million. The Rivers Casino Pittsburgh sportsbook supposedly finished top of this stack last month with $7.9 million in bets to earn roughly $1.1 million in related proceeds.

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