By
Blake Roberts
Founder & Editor in Chief Updated: 29 October 2024
Blake Roberts Founder & Editor in Chief
Blake Roberts is the founder of Betting.US and is currently heading the creative team as Editor in Chief. Born and raised in Morgantown, West Virginia, Blake is a great sports fan, with football and basketball being his favorite. He’s our trusted voice for all betting-related matters.
According to official data from the Pennsylvania Gaming Control Board (PGCB), the Keystone State has reached a new record in sports betting revenue. For the month of September 2024, the sportsbooks in Pennsylvania collected over $53.5 million, which marks a 44.9% year-over-year increase. The revenue came from over $811.2 million handled in betting for the same month.
The total gambling revenue generated for September 2024 in Pennsylvania was $505.9 million, which reflects a 6% increase compared to the same period last year. The sports betting sector is responsible for $53.5 million. More than 90% of that amount, or $47.2 million, was generated by online sportsbooks, leaving the share of retail betting facilities at only $6.3 million.
The monthly sports betting handle in Pennsylvania reached $811.3 million – an 11.7% increase compared to September 2023. Again, most of the wagers, over $765.4 million, came from online sportsbooks such as FanDuel, DraftKings, BetMGM, and Barstool Sportsbook. The growth, however, is not only limited to sports betting. Pennsylvania’s online gambling sector also marked an 11% YoY increase.
The first online sportsbooks in Pennsylvania went live on May 31, 2019. The sector quickly gathered significant momentum and popularity among gamblers in the state. FanDuel, DraftKings, BetMGM, and Barstool Sportsbook are just a few of the brands operating in Pennsylvania.
FanDuel is the unquestionable leader at Keystone State. The platform’s handle for September is reported at $320.5 million, and its generated revenue portion is $27.4 million. This is thanks to the sportsbook’s user-friendly interface, attractive promotions for new and long-term gamblers, and extensive betting options.
“We’re leveraging our expertise in creating world-class fantasy and sports betting experiences to build the best online sports betting platform in the state of Pennsylvania,” said Mike Raffensperger, CMO of FanDuel Group, back in 2019 in an official press release about the launching of the platform in The Keystone State.
Pennsylvania has one of the highest online sports betting taxes – 36%. While this may be a lot for sportsbook platforms to pay, it’s proven rather beneficial for the state. Millions of dollars are being generated in tax revenue every month, and the money is used to fund public programs and local government initiatives.
While part of the public may be concerned with potentially negative consequences, such as gambling addictions, the Pennsylvania Gaming Control Board is appointed to make sure that every single operator and platform in the state follows the latest regulations and safety protocols in the industry.
Looking ahead, we expect that the online sports betting sector in Pennsylvania will continue to grow. This is happening at the expense of retail sportsbooks, which generate only a very small percentage of the betting handle and revenue for PA. In fact, this trend is valid for all US states that have legalized online gambling.
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