Pennsylvania posted record betting revenue for October. The state’s retail and online betting sector reported $200 million in bets in October. It is also the first time the state’s sports betting market touched the $200 million mark.
The increase in betting handle has been attributed to the increased betting handle from the online sector.
According to the figures released, Pennsylvania’s sportsbooks accepted a record $241.2m in bets in October. The figure represents a 24% month-over-month increase from September’s $194.5m handle.
The revenue from the state’s online sportsbooks were $198.7m in October. The online sportsbooks contribute 82 percent of the state’s total betting handle.
“Pennsylvania’s online market is finally maturing, and that is certainly the most important reason for the growth in the state’s handle,” said Jessica Welman, a sports betting analyst for PlayPennsylvania.com.
“The path for more growth is clearer now. A major brand like DraftKings coming online, coupled with an intense interest in the Sixers, Flyers, and Penguins, will almost certainly give a boost to the already steady growth we’ve been seeing.”
FanDuel Sportsbook at Valley Forge Casino reported maximum betting handle as it took $113.9m in October bets, up from $85.1m in September.
Earlier in September, Pennsylvania’s sports betting handle had doubled month-over-month.