Pennsylvania sportsbooks produce revenue of $85m for November

By Gambling Insider

Pennsylvania online and retail sportsbooks reached a new revenue record with nearly $85m, from over $760m in handle (total wagers) for November.

The state’s sportsbooks accepted $761.6m in wagers for November, the state's second-highest tally. The month’s wagers showed a 59% increase year-on-year.

Although November didn’t surpass October’s record of $776.3m, daily betting volume was $25.4m per day, compared to $25m daily for October.

November produced $84.9m in gross revenue, easily beating January’s total of $49.3m.

Year-on-year, revenue was up 75%; the month generated $63.7m in taxable revenue after $21.3m in promotional spending, which yielded $23m in state taxes.

Online sportsbooks accounted for 92% of Pennsylvania’s total handle. FanDuel led the online market with $238.6m in bets. DraftKings followed with $215m in wagers and Penn National’s Barstool-branded app came in third with $74.3m in bets.

Retailers produced $57.5m in wagers for November, up 7% from $53.5m for October.

Online casinos and poker rooms produced $114.5m in gross gaming revenue but fell short of October's $117m record. November’s revenue was up 58%.

Online casinos won $3.8m in daily gross gaming revenue over the 30 days of November, similar to the pace of the previous month. However, wagering at online casinos fell to $3.8bn for November from $4.1bn for October.

Poker alone generated $2.8m in revenue and PokerStars led the market with $1.8m here.

In total, online casino and poker produced $93.9m in taxable revenue, which generated $39.1m in state taxes.

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