Pennsylvania Sports Betting Handle Nears $350 Million in January

Pennsylvania Sports Betting Handle Nears $350 Million in January

For eight months in a row, Pennsylvania sports betting handle experienced growth month-over-month. According to the report from the State Gaming Control Board, 12 legal sportsbooks got a total handle of $348.4 million in January. It was around a $5.8 million increase from the last month of 2019.

Their taxable gross revenue totaled $22.8 million in January, which was double the amount from December. The increase in sports betting revenue came from the end of both the NFL regular season and college football. Thus, some futures wagering markets closed.

Pennsylvania got around $7.8 million in taxes. Also, local taxes were around $456,000. The state’s tax rate for sports betting is 34 percent. Local taxes have a rate of two percent. In the first seven months of the 2019-2020 fiscal year, sportsbooks handled $1.6 billion. Their gross revenue is $87.7 million. As a result, the state got $29.8 million in taxes.

Pennsylvania Sports Betting Handle

Pennsylvania Sports Betting Handle Nears $350 Million in JanuaryBetting software providers attribute the increase in sports betting handle in the state to mobile wagering apps. Although apps are tied to casinos, players don’t need to go to one to register for an account. As a result of the convenience of opening an account, many residents choose to register and wager through mobile apps.

Based on pay per head service records, there are eight mobile apps in the state. In January alone, $308.6 million were placed through online apps. That’s 89 percent of the total handle. Also, nearly half of those mobile bets were made through the FanDuel App.

Bookie pay per head reviews and news sites stated that DraftKings came in late into the game. Despite that, it experienced strong growth in January. The company reported a total of $59 million handles in January. It was a 64 percent increase from December. Both companies use promos to attract players from Indiana.


Bookie Pay Per Head Service