PA Sports Betting Handle Skyrockets in January

The Commonwealth of Pennsylvania (PA) has marked down an amazing gain when it comes to its sports betting handle in the month of January. The US state’s Gaming Control Board (PGCB) has released official numbers…

…and the statistics say that the sports betting handle in PA almost doubled compared to December.

In January, it reached $32 million, while the December market handle was $16.2 million.

Sports Gambling Venues

The Keystone State has a total of six licensed gambling venues and together they managed to generate a $2.61 million in revenue during January. That is a big increase comparing to the $2.01 million in December.

Also, the interesting fact is that in January the number of licensed venues that offer legal sports betting doubled from three to six. Parx Casino in Bucks County managed to generate more revenue than the other five venues.

Although the casino launched in January, the revenue from their sportsbook, powered by Kambi

…came up to $1.7 million, while the handle was $5.38 million.

New Sportsbooks

Besides Parx, the other two new venues are Greenwood Gaming and Entertainment’s Parx South Philadelphia Turf and Harrah’s Philadelphia in Delaware County. The first one began to operate on January 17, while the other started a week later.

The handle in Parx South Philly came up to $858.000, while the revenue was around $92.000. Harrah’s had a bit bigger revenue of $104.000, while the handle was much smaller around $616.000.

Rapidly-Evolving Market

The other casinos that have been operating sports gambling since December also show how big potential wagering on sports events has in Pennsylvania.

Hollywood Casino, with sportsbook owned by Penn National and powered by William Hill, had recorded a revenue of $284.000 and a $4.817 million handle…

…which was actually a 5% drop comparing to the numbers from December.

Sugar House Casino’s sportsbook, saw a devastating revenue drop to $104.000, while the handle almost doubled in January to $10.8 million (in December revenue was $641.000 and handle $5.54 million).

Also, Rivers saw a slight increase in revenue from $641.000 to $853.000, while its handle rose 71% to $9.543 million.

Legal Sports Gambling in Pennsylvania

After the US Department of Justice lifted the ban in May 2018, many US states started the process of incorporating legal sports betting. One of the first states to do that was PA, which officially launched wagering on sporting events on November 15, 2018.

The first venue that offered this type of gambling was Hollywood Casino at Penn National Race Course with the approval that came straight from the Pennsylvania Gaming Control Board (PGCB).

“The enthusiasm around sports betting has been growing since the federal ban was repealed in May, and we look forward to providing our patrons with another great amenity to enjoy at Hollywood Casino at Penn National Race Course,” Penn National CEO, Timothy Wilmott, said back in November.

Source:

“Pennsylvania sports betting handle rockets in January”, igamingbusiness.com, February 18, 2019.

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