October was very good for legal sports betting operators in the Keystone State.
With the Philadelphia Phillies going deep into the MLB playoffs, the Philadelphia Eagles finding success, and the NBA and NHL seasons getting fully underway, Pennsylvania recorded the largest handle in state history.
The Keystone State hauled in $829 million in wagers, up 14% from September and marking the first month ever with an $800 million handle. The second-highest handle of $797 million came in October 2022 for Pennsylvania sports betting.
The Pennsylvania Gaming Control Board announced gross revenue of $73.6 million, the third-highest in state history and up over 11% month-over-month and nearly 20% year-over-year.
Promotional credits fell $4 million from September but still topped $25 million in October.
Pennsylvania sports betting led to $16.4 million in taxes from operators. Online sports betting accounted for 93% of the overall handle and $68.5 million of the revenue. Retail sportsbooks took in $55.8 million in wagers and a hold north of 9% led to over $5 million in revenue.
FanDuel sets new record
There wasn’t much of a battle for the top online sportsbook among the 12 operators in Pennsylvania during October. FanDuel ran away from the field with a handle of $325 million handle, the largest ever by a single operator in the Keystone State. The online sportsbook also claimed $29.1 million in revenue behind a nearly 9% hold.
DraftKings was second in handle at $255.5 million, and thanks to a hold of 11%, it pulled in $27.9 million in revenue.
BetMGM recorded a handle of $51.7 million while Caesars finished at $36.3 million. PENN, which transitioned this month to ESPN BET, was the only other operator in the state with a more than $30-million handle.
