PA Sports Betting: Looking At Revenue, Handle After Six Months

PA Sports Betting: Looking At Revenue, Handle After Six Months

In its first six months since officially launching, PA sports betting has already proven itself to be a substantial money-maker. The industry has totaled over $162 million in total bets, while producing nearly $17 million in revenue and almost $6 million in taxes for the state, according to numbers from the Pennsylvania Gaming and Control Board. Even more money is expected to be made in short order as PA online sports betting is in the process of going live with the launch of SugarHouse Online Sportsbook PA.

As of April 2019, there are eight total PA sports betting operators contributing to revenue:

Hollywood Casino Sportsbook became the first to accept a PA sports betting wager in November 2018. Rivers and SugarHouse quickly followed in December, providing an enormous boost to the industry. Parx Casino, Philadelphia Race and Sportsbook and Harrah’s Sportsbook joined the fray after the calendar flipped to January while Valley Forge’s two locations arrived in March to round out the group.

Considering the industry went into the New Year with just a couple of operators, the jump in handle and revenue is pretty remarkable. Most responsible for the success of PA sports betting to this point are Rivers Sportsbook and SugarHouse, which are doing more than just pulling their weight when it comes to handle and revenue.

Rivers, SugarHouse Lead PA Sports Betting Operators In Handle & Revenue

Combined, Rivers and SugarHouse are responsible for over $80 million in handle and more than $8 million in revenue to this point. To provide context, the below chart details handle, gross revenue and taxes for the PA sports industry.

Pennsylvania Sports Betting Totals

Nov. 2018

Dec. 2018

Jan. 2019

Feb. 2019

March 2019

April 2019

2018/2019 Total

Handle

$1,414,587

$16,173,090

$32,011,839

$31,500,742

$44,527,575

$36,769,145

$162,396,977

Gross Revenue

$508,997

$2,007,592

$2,607,215

$1,946,817

$5,519,340

$4,221,482

$16,811,442

State Tax Due (34%)

$173,059

$682,581

$886,453

$661,918

$1,876,576

$1,435,304

$5,715,890

Local Share Assessment (2%)

$10,180

$40,152

$52,144

$38,936

$110,387

$84,430

$336,229

One of the things you’ll notice is nearly half of the total amount wagered and a good chunk of the revenue comes from one of these two venues. Now, we’re going to get a better look at how each operator has contributed over the first six months of Pennsylvania sports betting.

  • Rivers Casino Sportsbook (Pittsburgh)

Rivers Sportsbook only launched in December 2018, and almost immediately established itself as the PA sports betting industry leader. It currently sets the mark at over $43 million in total handle and nearly $5 million in revenue over just five months. In March 2019, the single-month handle record was set by rivers at $11.9 million.

  • SugarHouse Casino Sportsbook (Philadelphia)

SugarHouse also arrived in December 2018 and has immediately made an enormous impact. SugarHouse Sportsbook remains a close second with over $40 million in total bets taken and well over $3 million in gross revenue. In January, it became the first PA sports betting operator to reach double-digits in handle for a single-month at about $10.8 million.

  • Parx Casino Sportsbook (Bensalem)

Parx Sportsbook joined the fray after the New Year began and quickly has shot up to No. 3 in terms of handle and revenue behind Rivers and SugarHouse. Parx has produced four very economically consistent months, making it appear like it’s here for the long haul.

  • Hollywood Casino Sportsbook (Grantville)

Hollywood Sportsbook will always have the distinction of being the first PA sports betting venue to open its doors in November 2018 and get the ball rolling in the Keystone State. In total, nearly $2 million in revenue has been produced at Hollywood Casino Sportsbook.

  • South Philadelphia Race And Sportsbook (Philadelphia)

After joining the market in January 2019, South Philadelphia Race and Sportsbook set personal highs in March with over $3.5 million in handle and over $500,000 in revenue.

  • Harrah’s Casino Sportsbook (Philadelphia)

Like many PA sports  betting brands, Harrah’s had its  best month while March Madness was going on. The third month of the year saw almost $4 million in total bets, putting them over the $10 million-mark for handle.

  • Valley Forge Casino (King Of Prussia)

Valley Forge Casino just arrived in March, but was able to increase its PA sports betting handle by over a million dollars by April and is now up over $5 million total.

  • Valley Forge Race And Sportsbook (Oaks)

Valley Forge Race and Sportsbook also just opened its doors in March, but followed suit by improving in its second month. April saw double the handle and a strong improvement in revenue.

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About Brian Sausa

Brian Sausa is BonusSeeker’s Copy Editor and lead sports betting pundit. A journalism graduate with an extensive sports background, Brian has been employed by multiple professional leagues including MLB, MiLB (Minor League Baseball), and the NHL.

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