Pennsylvania sportsbooks reach almost $800m in wagers for January
Online casinos and poker rooms also hit a milestone, taking in $130m in gross gaming revenue.
A surge in Pennsylvania sports betting and increasing online casino revenue made January a lucrative month for the state’s online gaming industry, according to analysts at PlayPennsylvania.
January had five weekends of football and an extra week during the NFL’s regular season, which proved to be advantageous for the state. The expanded playoffs contributed to a surge in activity as well.
Pennsylvania’s sportsbooks generated $793.7m in wagers, a 29% increase from January 2021. January’s handle also rose 5.8% from $750.4m in December and surpassed the $776.3m wagered in October 2021.
Sportsbooks won $53.4m in gross revenue from those wagers, up 8.3% from January 2021 and up 17.9% from December.
Sportsbooks ended the month with $32.2m in taxable revenue, yielding $11.6m in state taxes and local share assessments.
The state hit an all-time high of $25.1m in operator revenue during the month. Online sportsbooks accounted for $737.4m, or 92.9% of the state’s handle in January, with FanDuel leading the online market.
FanDuel took in $273.3m in wagers, or 34.8% of the state’s online market.
DraftKings followed second with $197.6m in wagers, yielding $8.4m in gross revenue. BetMGM took in $84.4m handle, producing $5.5m in gross revenue, grabbing the third spot.
Retailer sportsbooks generated $56.3m in wagers in January, a slight decrease from December.
Wagers yielded $5.8m in gross revenue, up from the previous $2.8m. Rivers Pittsburgh grabbed the top spot in the retail market with $9.2m in bets, surpassing Parx’s $8.3m handle.
Online casinos and poker rooms also did well, producing $130m in gross gaming revenue in January, the highest to date. Revenue was also up 42.5% from January 2021.
Online casino games and poker also generated $108.3m in taxable revenue, with $44.6m going toward state taxes and local assessments.
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