The industry in Pennsylvania stayed on the ball through to the end of the year. Numbers for December were high – albeit not record high – as 2021 ended in style. Altogether, the month saw more than $750m in wagers.
There was at least one record in December’s numbers: online casino revenue reached $127.6m
The coming of December’s numbers does allow one to see how Pennsylvania fared throughout the year.
And what a year it was! $6.5bn in total sports wagers, $1.3bn in online casino revenue, and $122.5m in tax revenue, easily the highest in the nation.
December’s figures for betting volume were the state’s third highest, slightly less than the $761.6m seen in November and the $776.3m of October. The slight pullback from what had been a record-breaking fall was a trend mirrored elsewhere in the country.
Year-on-year, the growth in the Keystone State was impressive. The $750.4m in wagers was up 36.8% from the $548.6m seen in December 2020.
Bettors did pretty well for themselves, too. As a result, the $38m in gross revenue for sportsbooks was down 16.3% from December 2020.
Looking at the year in total: the $6.5bn in wagers was up 83% from 2020; the $505.5m in gross revenue was up 87.3% from 2020; and the $122.5m in state tax revenue was up 79.4%.
Of the sportsbooks themselves, FanDuel was market leader with $246.8 in wagers and 32.9% of the online market. DraftKings was second with a $204.7m handle, and BetMGM was third with an $83.5m handle.
While the year was a strong one for Pennsylvania, the competition will be slightly steeper next year. The outsized regional influence of Pennsylvania (and neighboring New Jersey) is now going to be matched by New York, which just two weeks ago saw legal sports betting go live.
