Olufifun Adeleke
Writer
Publication date:
2022-09-21
Last updated:
2022-11-15
Numbers released by the PGC on Monday were a small “starter dish” before the main one which for sportsbooks is the NFL.
In the last month of summer PA sportsbooks got a $30 million increase from July. In numbers it is $363 million in bets in August. Month revenue went to $42.1 million (a 27% MoM jump) with 11.6% hold. It means another nice month for sportsbooks since in July hold was 9.9%.
August also was a descent one for online casinos in PA as their gross revenue reached $131.7 million.
PA gambling authorities mentioned that in August total revenue of all types of gambling in the state reached $425.4 million, a 4.24% increase from last year.
August’22 in numbers for sports betting in PA
Numbers released by the PGCB:
- Revenue: $42.1 million/adjusted gross revenue (taxable): $8.2 million
- Handle: $363 million (7.8% MoM increase)
- Promotional credits: $8.2 mil
- Percentage of bets made online: 91.7
- Promotional credits: $8.2 mil
- Hold: 11.6% (up from 9.9%)
- Sports betting taxes in August: $11.5 million to the state and $679,066 to local entities.
- Best sports betting application by revenue: FanDuel Sportsbook ($16.9 million)
- Best sports betting application by handle: FanDuel Sportsbook with $130.8 million
August’22 in numbers of online casinos and poker in PA
- Online slots revenue: $100.2 million
- Online table games revenue: $28.7 million
- Poker revenue: $2.3 million
Full August revenue report by PA casino licensee below.
Fast analysis from August PA sports betting and casino digits
PA sports betting August takeaways
- NJ published their figures on Friday and the sportsbooks in the state handled $546.8 mil[increased July numbers by 2,8%]
- PA’s MoM handle grew by 7,8 percents. NJ sportsbooks hit $65.3 million. NJ and PA sportsbook terms of hold were very similar.
- NJ win (hold) was at 11,9 percents while PA’s was at 11,6%
- About 40% of online sports betting market share in Pennsylvania is still owned by FanDuel. Company continues to take about 38-42% of all bets placed online in PA despite increased competition.
- Start of the both autumn and NFL seasons already shapin up to be huge. It’s not a surprise that NFL is a “main dish” for sportsbooks. After first week GeoComply which sportsbooks use to verify where bets are placed, released the info that showed it was an “amazing start”. PA total figures of geolocation checks jumped at 29,7% to 15,3 mill YoY.
According to report from GeoComply, Pennsylvania was second in legal US sport betting markets to only New York for geolocation checks.
Pennsylvanian casinos takeaways in August
- In the early last month interview for Casino Update, Chief marketing officer of Parx Marc Oppenheimer said visitation rates are good, but business is down for slots. August digits showed a 10.7% YoY decrease in slot revenue for Parx. But Parx still keep the top spot among the PA casinos for slot revenue in August.
- Online casinos got their official start in Pennsylvania in the summer of 2019. Now there are eighteen of them operating and most of them have a massive collections of slots, table games, video poker and the popular live dealer. August was fourth-best month ever for PA online casinos reaching $131.7 million of gross revenue. It’s just about 6,6% MoM raise which let us know that iGaming in PA still has room to grow.
- Last month, Wind Creek Casino was a record holder for table games revenue in PA with $23.6 million (42% YoY increase). How are they now? In August, Wind Creek eked out Parx and led the state for table games revenue with $17.7 million. However, it was a 6.2 YoY decrease.
PA sports betting handle & revenue by operator August 2022
