Pennsylvania sports betting revenue is out, and the news is mixed.
In the six months of legal sports betting, PA sportsbooks brought in its second-highest revenue total. That’s the good news as April tends to be pretty slow in sports betting circles.
Here are April’s figures released by the Pennsylvania Gaming Control Board (PGCB):
- Handle: $36,812,702.00
- Revenue: $4,221,482.00
- Taxes: $1,519,733.00
Those numbers look impressive, but compared to New Jersey, PA still has a way to go.
For the same month, New Jersey sports betting reported $313,719,562 in handle and $21,215,747 in revenue.
NJ has 4 million fewer residents than PA. That means there is only one explanation for the disparity in figures: online sports betting.
NJ has it; PA wants it but is still waiting.
More than 80% of NJ betting comes via online betting. PA sportsbooks need online betting to help counteract the high license fees and tax rates.
How PA sportsbooks fared
The total handle for PA’s eight active sportsbooks fell 21% compared to March. Much of the decline can be attributed to March Madness ending in the first week of April.
Parx might have come in third in handle, but it leapfrogged ahead of Rivers to claim the top spot in revenue. It earned $907,298. It’s the first time Rivers relinquished its revenue-leader title since it opened its betting windows.
Overall, revenue took a massive 31% dive compared to last month. The real winner in the revenue battle, though, is the Keystone State. Thanks to the hefty 34% state tax, PA added $1.4 into the bank.
|FanDuel at Valley Forge||$3,050,424||$379,731||$136,703|
|South Philadelphia Turf Club||$2,603,808||$441,692||$159,009|
|Valley Forge Race and Sportsbook||$1,542,891||$195,856||$70,508|
PA sports betting turns 6 months old
April marks the six months since Hollywood Sportsbook accepted the Keystone State’s first bet. Since then, eight PA sportsbooks are taking bets, and several online sports betting apps are approaching the gate.
It is fair to say that many bettors hoped online betting would be a thing by now.
PA has a sloth-like reputation when it comes to launching sports betting and even more so when it comes to online betting.
During the ICE Sports Betting Conference in Boston this week, there were hints that online sports betting would launch soon. Of course, we’ve been hearing that for more than a month now.
Sadly, the rumor mill that once hinted online betting was imminent has become eerily quiet. Now, it looks like online betting will not be available for most, if not all, of the NBA and NHL playoffs.