The Pennsylvania Gaming Control Board has released the latest monthly revenue data for sports betting in the state revealing that operators accepted $761.5 million in wagers throughout the month of November.
This is the first time in five months that sports betting activity has dropped as the latest figures represent a slight drop of 1.9% on the previous month. However, November’s handle is still the second highest of 2021 and brings the financial year-to-date total to $2.8 billion over the first five months of FY21/22.
Pennsylvania mobile sports betting once again accounted for the lion’s share of gambling activity as online operators reported accepting $704 million in bets representing 92.4% of all sports wagers. This was drop of $10 million on the previous month’s online activity, however, revenue increased by 104.8% to $76.2 million. Despite handing out over $20 million in promotional credits, operators still recorded the most successful month in the state’s history in terms of both gross and taxable revenue.
Retail sportsbooks reported accepting $57.5 million down from the $62.1 million reported in the previous month. Although betting activity dropped in November, retails sportsbooks also reported higher revenues than the previous month with taxable gross revenues totaling $8.6 million.
The retail and online sports betting markets generated combined taxable revenues of $63.6 million, up 50.3% on October’s figure. This resulted in state taxes of $21.6 million, the highest amount paid in a single month in the state’s history.
Valley Forge Casino is the market leader once again with a combined retail and mobile sports betting handle of $241.9 million. Hollywood Casino at the Meadows was its closest competitor with an overall handle of just over $217 million.
Ciaran has been working within the Gambling Industry as a deep analyst since 2019. His deep knowledge and understanding of all the gambling regulations, and processes makes him a true asset, and an always valuable point of view for Gambling Industry News, allowing us to cover every topics from a brand new perspective.
