Pennsylvania Sets New Sports Betting Record
The Pennsylvania Gaming Control Board has announced the legal sports betting totals from January, and it was a record-setting month for the state. The total sports betting handle was $793.7 million in January, moving past the previous record of $776.3 million that was set in October 2021.
The numbers from Pennsylvania follow a national trend as a number of states have already announced similar records for handle. The NFL Playoffs played a big role in these record-setting numbers as that sport always brings in the most betting action.
Both retail and online sports betting is available in Pennsylvania, but over 93% of the wagers were placed online last month. That is another trend that has continued in the state as it is usually over 90%.
Not only was it a busy month for sportsbooks in the state, but it was also a profitable one. The gross sports betting revenue was more than $32 million, which was a jump of over 70% from the revenue in December.
This is now the fourth straight month that Pennsylvania has posted a total handle of more than $750 million, and that trend should continue through the next two months. The Super Bowl will help boost the February total and March Madness could help the state set a new record for that month.
Pennsylvania could remain in the top-five for biggest sports betting markets, but the launch of New York has dropped them down a spot.
FanDuel, DraftKings Leading the Way
Nearly all of the top online sports betting operators in the U.S. are now live in Pennsylvania, but two operators continue to lead the way. FanDuel was once again the top operator during the month of January, and DraftKings continues to keep the pressure on.
FanDuel Sportsbook posted a total online betting handle of $246.8 million, and it had a revenue of $13.7 million. DraftKings Sportsbook came in second place with an online betting handle of $204.7 million and a total revenue of $8.1 million.
There was a huge gap between the two top operators and BetMGM came in third place with a total online handle of $83.5 million. All of the sportsbooks contributed to this record-setting total, but bettors continue to favor FanDuel and DraftKings.
PointsBet is Now Live
Even though the Pennsylvania sports betting industry has been around for years, this is a state that continues to see new sportsbooks launch. PointsBet Sportsbook is the latest operator to join the market, and this will give bettors another terrific option.
The launch of PointsBet Sportsbook occurred on February 10, and this is now the 10th state in which PointsBet Sportsbook is live. It shouldn’t take PointsBet long to become a leader in this industry as it has a partnership with NBC Sports that will make this a popular betting option.
Stay tuned for more sports betting industry news over at USAWager.com!