Pennsylvania sportsbooks bring $85m in revenue for November
Record revenue signals continued growth for betting in the state.
Pennsylvania sportsbooks have made $85m in revenue (a new record!) after $761.6m in wagering in the month of November. Online casinos also had a strong performance in the Keystone State.
While October 2021 did, in fact, have a slightly higher handle at $776.3m, the average volume of bets per day was actually up, from $25m to $25.4m. Compared to November 2020, the Pennsylvania sports handle was up 58.4% from $491.9m.
The $85m in revenue was far more than the previous record of $49.3m, set in January of this year. All of this is good news for state coffers: $63.7m in taxable revenue which could yield $23m in state taxes.
While the reasoning goes that these numbers were driven by an active college and professional football schedule, there was in fact one fewer weekend of football than there had been in October. What has really been a welcome surprise is the huge popularity of basketball at both the college and professional level. This is a harbinger for continued success throughout the winter as the basketball season goes on until the spring.
In general, these strong November numbers continue an incredible run for Pennsylvania’s sports handle. The last three months have seen $2.1bn in wagers and $175.3m in operator revenue.
Online sportsbooks did especially well at $704.1m overall. FanDuel led the pack with 33.9% of the online market. DraftKings followed with 30.5%, with Penn National’s Barstool app and BetMGM coming in third and fourth respectively.
Online casinos and poker rooms also performed well, with $114.5m in gross revenue, up 58.1% since November 2020.
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