December 17, 2020 Sports Betting, Technology, Online

Pennsylvania sports betting handle $492m in November


State records highest gross revenue ever, up from October’s record.

Sports betting operators in Pennsylvania saw $492m in handle in November, making it the second-best month on record.

November’s handle was down 6.4% from October’s record $525.8m.

The Pennsylvania Gaming Control Board said the November 2020 handle was up 55.4% from November 2019’s $316.5m. The Keystone State is five months into its 2020-2021 fiscal year, and handle during that period has topped $2 billion.

Pennsylvania has 14 retail sportsbooks and 10 online operators. Officials said 91% of sports wagers were placed online last month. Sportsbook apps offered $11.1m in promotional credits in November, flat compared to October.

While handle was down from the previous month, gross revenue set a new record: $37.4m in November, up from $36.8m in October. This allowed the state to collect $12.7m in sports betting taxes last month, as local entities received more than $747,000.

Football continues to be king, as betting on the sport brought in $37.4m, up sharply from $6.2m bet on football in September 2020.

FanDuel’s online sportsbook took $176.7m in wagers in November, which represents 36.6% of wagers made in the state. The operator has set a record for revenue by an online sportsbook in Pennsylvania for two straight months, netting $14.7m in October and $15m in November.

DraftKings reported $110m in handle in November – the third straight month it has topped $100m – while its $6.8m revenue represented its highest recorded month in Pennsylvania.

Barstool Sportsbook, operating via a partnership with Hollywood Casino, had $55.8m in handle in November, which was just its third month of operations. Barstool had $61m in handle in October.

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