The Pennsylvania Gaming Control Board recently released the August report for sports betting. The state has reached an all-time high when it comes to bets placed, with the handle reaching almost $365 million last month. As major sports were back in action after taking a break due to the COVID-19 pandemic, it pushed the sports betting industry to new heights. When compared to July, August saw an amazing 122% increase in betting handle.
Sports Betting Surge
From the huge number of bets placed, operators earned $27.5 million in revenues. This was a huge increase from the July totals of $8.1 million. The state was able to collect $6.5 million in taxes from the bets. The majority of bets were placed online at 88%.
The numbers were so high in Pennsylvania, that they may be able to beat the top sports betting state, Nevada. In July, they fell just short of Nevada’s $165.6 million handle. The August numbers may be enough for Pennsylvania to take the top spot.
PlayPennsylvania.com Lead Analyst, Duston Gouker, commented on the surge in betting, stating that the packed schedule in August helped the sportsbooks make up a portion of what was lost during the shutdown.
Individual Venue Breakdown
Of the massive online bets placed, it was FanDuel Sportsbook at Valley Forge Casino that took in the most. They accepted just over $144 million in bets. This was a jump of 110.3% from July. The casino earned $8.9 million in revenues which was a huge jump from the $1.4 million earned in July.
For retail sports betting, a total of $43.4 million bets were placed. This was a huge increase from the $9.4 million from July. In this sector, it was Rivers Philadelphia that came out on top, earning $949,903 in revenues from $11.8 million in bets placed.
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