Pennsylvania Sportsbetting Handle Rises 31.2%

Sportsbetting in Pennsylvania was up in November, eclipsing $300 million wagered for the period.

The amount wagered was up 31.2% from the month prior, reaching $316.5 million. Online betting was the key method of wagering, with $266.7 million bet, which was 84.3% of the market. Retail betting saw $49.7 million bet.

Revenues from sportsbetting reached $20.6 million. Promotional credits worth $5.9 million were given to players, leaving taxable revenues of $14.7 million for the month. The most successful operation was Valley Forge Casino, who partners with FanDuel and saw $153 million wagered, with 97.9% wagered online. Revenues from the operator were $5.8 million.

The second-place spot goes to Rivers Philadelphia, which saw $41.3 million wagered, but revenues of just $1.6 million due to poor results. The Parx Casino had $2 million in revenue with $30.5 million wagered.

Pennsylvania's sportsbetting industry went live earlier this year, joining neighboring New Jersey and New York in providing legal sportsbetting services to their customers. The state's population is large, and we're expecting to see the industry continue to grow for some time as the public becomes more aware of the service.