PA Sports Betting Kicks Off With $16 Million in Bets
Sports Betting News

PA Sports Betting Kicks Off With $16 Million in Bets

With PA sports betting up and running at Hollywood Sportsbook, SugarHouse Sportsbook and Rivers Sportsbook in Dec. 2018, the three licensed sportsbooks were able to pull in total revenue of $2 million for the month off of $16.2 million in total bets made, based off of numbers released by the Pennsylvania Gaming Control Board.

With Parx Sportsbook and the South Philadelphia Turf Club becoming the fourth and fifth PA sportsbooks in January, the revenue is expected to grow for the state.

Rivers Sportsbook leads the way in revenue generated for the state

Owned by Rush Street and run by Kambi, the Rivers Sportsbook launched Dec. 14 and generated $1.1 million alone off a handle of $5.6 million, netting a total of 53% of the PA sports betting revenue for the month. With its proximity to Heinz Field, it’s in a prime location for sports betting in Pennsylvania.

SugarHouse Sportsbook, located at the casino in Philadelphia, took in a total of $5.5 million in bets, netting a revenue of $641,167. Hollywood Sportsbook, owned by Penn National, took in revenue of $299,222 in December on $5.1 million in bets after netting $508,997 in November when they were the first sportsbook in Pennsylvania to have legal sports betting.

PA sports betting generates $2.5 million in revenue for the state

Combining November and December’s revenue totals from the three PA sportsbooks, Pennsylvania took in a total of $2.5 million based on a handle of $17.6 million. This number comes from their 34% tax on gross revenue from sports betting in Pennsylvania as well as tax payouts to the local authorities.

Parx Sportsbook, Turf Club Sportsbook, Harrah’s Philadelphia Sportsbook will add to the bottom line in Jan 2019

Parx Sportsbook in Bensalem, PA began welcoming sports betting on Jan. 10 after a soft opening two days prior, and even though the official numbers for January have not been released yet by the Pennsylvania Gaming Control Board as of this article, the rumor is their gross revenue numbers are already ahead of the pack even in a short month.

January’s numbers will also include the opening of Harrah’s Philadelphia Sportsbook and the Turf Club Sportsbook. With Presque Isle applying to become the seventh PA Sportsbook, PA sports betting is making a push to build up their state revenue to meet the numbers that they see from their neighbors as sports betting in New Jersey continues to take off.