- Pennsylvania reported about $526 million in sports betting handle last month
- Total betting handle marked an increase of 13.6 percent over September’s handle
- New Jersey set a US record with over $800 million in handle in October
Sports betting is becoming big business in the United States. Since the US Supreme Court voted to strike down the Professional and Amateur Sports Protection Act (PASPA) over two years ago, quite a few states have voted in favor of legalizing sports betting and opening their own regulated markets.
New Jersey, which was the state that officially filed the lawsuit that ultimately resulted in PASPA’s elimination, has quickly emerged as one of the epicenters for sports betting in the US. Pennsylvania, which voted to own its own regulated market shortly after New Jersey did, is quickly gaining steam, too.
Pennsylvania reported just under $526 million in sports betting handle for the month of October. That shattered the state’s previous record of $462.8 million that was set back in September. October’s sports betting handle marked an increase of 13.6 percent on the amount that was wagered on sports in September.
New Jersey reported $803 million in sports betting handle in October, which set a new record for any single state. The two states combined for $1.328 billion in October handle alone.
Land-Based Sportsbooks Fared Well
Pennsylvania is home to 12 different casinos with sportsbooks, along with a variety of associated online partners. Those 12 casinos totaled just under $48 million in total revenue in October. The gross taxable revenue after taking away promotional credits came out to about $37 million.
The timing of the increase isn’t a coincidence, of course. The NFL season is now in full swing, while every major college football conference has started its season as of this month. Football is the most popular sport on which to wager in the United States by a wide margin, so sports betting handle at this time of the year almost always trumps the handle generated in non-football months.
Pennsylvania reports $525.8 million in sports betting handle for October 2020.
It becomes the third state (Nevada, New Jersey) to top $500 million in handle for a month.
Nearly 90% of handle from mobile betting.
— Ben Fawkes (@BFawkes22) November 17, 2020
Valley Forge Casino near Philadelphia totaled $185 million in handle with its partner, FanDuel. That comes out to about $15.6 million worth of taxable revenue. Meadows casino in the western part of the state came in second with $123.4 million in handle and about $7 million in total taxable revenue. BetRivers two casinos totaled about $68 million in handle, followed by Penn National’s Hollywood Casino ($64 million).
Parx, Mount Airy, Mohegan, Presque Isle, Harrah’s, South Philadelphia Race and Sports Book, and Mohegan-Lehigh Valley rounded out the rankings among land-based casinos in terms of handle last month.
Mobile Betting Generated the Vast Majority of the Money
The vast majority of bets were placed via mobile devices. Mobile betting accounted for 89.8 percent of Pennsylvania’s total sports betting market for a total of $472.3 million. That marked a 14 percent increase over September’s output of $414.1 million. The industry is continuing its incredibly rapid growth. The total amount wagered in Pennsylvania ($525,802,524) represented an increase of 118 percent over October of 2019.
Taxable gross sports betting revenue has seen the most noteworthy jump. The taxable revenue increased from $6,269,883 in September to $36,776,926 last month. The state of Pennsylvania took in $12.5 million last month compared to a little over $2 million in September. Local governments gathered about $736,000 in tax money last month after earning $125,000 two months ago.
Mount Airy accounted for about $2.4 million in online poker revenue, which was a slight increase over September’s mark of $2.3 million. The state also saw an increase in table gaming revenue from $59.2 million in September to $63.3 million in October.
Indiana and Iowa Set Their Own Records
Pennsylvania and New Jersey weren’t the only states to see industry growth last month. Indiana’s sports betting handle increased 11.3 percent to $230.9 million in October. Iowa set a new record for sports betting handle with just under $82 million, as well.
Earlier this month, voters in South Dakota, Maryland, and Louisiana voted in favor of legislation that will move each of the states closer to opening their own regulated sports betting markets. As of this writing, there are a total of 19 states with some form of legalized sports betting in operation. Another nine states have bills still alive in their respective state legislatures, while another four have passed bills looking to move legislation forward. 12 states have voted against passing bills that would legalize sports betting.
Taylor Smith
Taylor Smith has been a staff writer with GamblingSites.org since early 2017. Taylor is primarily a sports writer, though he will occasionally dabble in other things like politics and entertainment betting. His primary specialties are writing about the NBA, Major League Baseball, NFL and domestic and international soccer. Fringe sports like golf and horse racing aren’t exactly his cup of tea, bu …
