PA Sports Betting Hits $16 Million Mark During First Full Month

PA Sports Betting Hits $16 Million Mark During First Full Month

The December figures for PA sports betting are finally in and they don’t disappoint. The Pennsylvania Gaming Control Board reports that between the three PA sportsbooks combined, revenue reached $2 million for last month’s timeline.

This number came from an estimated PA sports betting handle of $16 million, which indicates a promising 12.6% market hold for the three venues: the Hollywood Sportsbook, SugarHouse Sportsbook and Rivers Sportsbook. December’s revenue numbers don’t include the latest PA sportsbook to launch, Parx Sportsbook, which opened its doors a few weeks back this January.

Rivers Sportsbook And SugarHouse Sportsbook Take A Slice From Hollywood Sportsbook

Although the Rivers Sportsbook and SugarHouse Sportsbook joined the PA sports betting race in the middle of last month, they managed to surpass Hollywood Sportsbook in revenue in half the time. Rivers Sportsbooks pulled in $1.1 million in just two weeks of operations, making it responsible for 53% of the overall profits and a third of the handle (roughly $5.6 million.) Rivers’ success could definitely have something to do with the fact that it’s only a short walk away from the Pittsburgh Steelers’ Heinz Field arena.

SugarHouse Sportsbook, on the other hand, brought in much more modest numbers, despite reporting a nearly equivalent figure in sports wagers handled ($5.5 million.) Revenue from the Philadelphia venue adds up to $641,167.11, almost half of what the Rivers Sportsbook had to show for the month.

Nonetheless, the PGCB’s December report was the bearer of good news for both Rivers and SugarHouse Sportsbook. It revealed 41 percent in monthly revenue for the Hollywood Sportsbook at Penn National Race Course, which brought in over half a million in November, only to come down to $299,222.07 in December.

These numbers, however, still fade in comparison to NJ sports betting handle, which reached $319 million in December. That narrative should change once PA online sports betting becomes operational in the Keystone State.

Parx Sportsbook Joined The PA Sports Betting Race

The Parx Sportsbook, located in suburban Philadelphia, was the fourth sports betting operation to start accepting sports wagers in the state. Its operations will certainly produce bigger numbers in January, but it won’t be the last one on the list of PA sportsbooks to launch.

More PA sports betting venues have been cropping up since Parx’s launch. The latest launch on the calendar was the South Philadelphia Turf Club, another Greenwood project, same as the Parx Sportsbook.

Along with sports fans, the state is also reaping the benefits of PA sports betting. Due to the 34% tax rate, the state received $682,225.55, with a further $40,130.92 paid to the local authority in which each venue is located.

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