The dollar value of sports betting in Pennsylvania stalled last month, although the Keystone State remains a steady performer among legal wagering jurisdictions.
Numbers recently reported by the Pennsylvania Gaming Control Board show the state's retail and online sports betting sites handled $789.2 million in wagers during November, down slightly from October's $797.1 million but slightly above November 2021's $761.6 million.
Gross revenue earned by operators last month in Pennsylvania was nearly $70 million, good for a hold of about 8.9%. After deducting $17.1 million in free bets and other promotional credits, the taxable revenue left over was $52.9 million.
The tax owed to the state due to November's wagering was almost $18 million. The November tax haul was the highest monthly total for the state in its current fiscal year, which began in July.
Meanwhile, the leading operator by handle last month was Valley Forge Casino and its mobile sports betting partner FanDuel, which registered $297.3 million in total wagering. The duo generated $36.3 million in gross revenue from that handle, a win rate of 12.2%.
Geoff has been writing about the legalization and regulation of sports betting in Canada and the United States for more than three years. His work has included coverage of launches in New York, Ohio, and Ontario, numerous court proceedings, and the decriminalization of single-game wagering by Canadian lawmakers. As an expert on the growing online gambling industry in North America, Geoff has appeared on and been cited by publications and networks such as Axios, TSN Radio, and VSiN. Prior to joining Covers, he spent 10 years as a journalist reporting on business and politics, including a stint at the Ontario legislature. More recently, Geoff’s work has focused on the pending launch of a competitive iGaming market in Alberta, the evolution of major companies within the gambling industry, and efforts by U.S. state regulators to rein in offshore activity and college player prop betting.
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