Pennsylvania Becoming a Major Players in the Market
According to the Pennsylvania Gaming Control Board (PGCB), $194.5 million was wagered in September. That's 78% higher than the handle in August which was $109 million. FanDuel has established itself as the leading brand in Pennsylvania. In terms of market share, 54% of all online wagers in the state were placed on FanDuel's site. That's up 12% from August when their share of online wagers was 42%. Those numbers helped FanDuel capture one third of the sports betting revenue generated for the month.
A Closer Look at the Numbers
Much like the situation in neighboring New Jersey, online wagering has helped Pennsylvania's overall handle skyrocket. The latest report from the PGCB shows that 81% of wagers placed in the state came via online/mobile apps.
That number helped FanDuel take $85 million in bets which generated $4.7 million in revenue for them. As their primary source of income, online wagers brought in $14.9 million in revenue for the month. That's compared to August where they generated $6.3 million.
Valley Forge Casino was the overall leader due to its FanDuel sportsbook. Their online numbers combined with retail totals earned them $7.5 million in revenue. In second place, we have SugarHouse Sportsbook with almost $38 million in handle and $2.9 million in revenue. SugarHouse is affiliated with Rivers Casino in Pittsburgh, with both sportsbooks under the Rush Street Gaming umbrella. The two casino's sportsbooks brought in a combined $5 million in revenue.
The Sportsbooks That Started Late Should See Better October Numbers
Rivers Casino is an example of a sportsbook that should see much larger October numbers compared to September when they weren't up and running for the start of the month. Their total handle was $30.8 million which brought in a little under $2.1 million in revenue. Of that total, $1.1 million came from its online offering while $957K came from its retail sportsbook.
Rivers just unveiled a 5,500 square-foot sportsbook on September 27th which will definitely see their numbers improve moving forward.
The same can be said for Meadows Racetrack and Casino who was not included in the PGCB report for September. Meadows has a sportsbook located in Washington County that launched in early October.
Chris Christie Takes a Shot at Pennsylvania
Former New Jersey Governor Chris Christie spoke at the Global Gaming Expo in Las Vegas. As a member of the Sports Betting Hall of Fame in recognition of his work in New Jersey's successful attempt to overturn PASPA, he took the opportunity to take a shot at his neighbors in Pennsylvania.
Christie called legal sports gaming in Pennsylvania "a dumpster fire" due to the fact that they charge a much higher tax rate than New Jersey. Online sportsbooks pay 13% in New Jersey while sportsbooks located at casinos pay 9.75%. In Pennsylvania the they take 36% of casinos pay a 36% tax on winnings to the state. Considering the reports from the September handle, Christie, who loves any kind of publicity, might be exaggerating a little bit.