Online Dominates Pennsylvania Sports Betting In 2019

The US state of Pennsylvania generated $84.1m from sports betting in 2019 – its first full year of legal sports wagering.

Total handle from sports betting is reported to have hit $1.49bn, and notably over 50% of revenue, some $43m, was generated online, while the state’s coffers benefited to the tune of $30.3m in 2019.

Leading the pack in terms of revenue was Valley Forge Casino Resort with $24.6m.

Though the end of the year saw a growth in sports wagering handle, with December up 8% on November, at $342.6m, the revenue for the same period actually dropped a significant 23% to $11.4m. Notably the vast majority, over 70%, was generated by online sportsbooks.

Year-on-year, overall gaming and fantasy revenue for 2019 was up 4% year-on-year, with revenue of $3.41bn. The end of the year saw gaming revenue rise 3% in December to $291.9m, with Parx Casino out in front, generating $52.1m.

Parx Casino also offers a Kambi-powered sportsbook, and was the second in the Philadelphia area to launch sports betting, in January 2019, a month behind SugarHouse.

Pennsylvania, which saw legal sports betting launch in November 2018, now boasts 12 retail betting locations and 8 online sportsbooks.

bitcoin
Bitcoin (BTC) $ 10,947.03 0.31%
ethereum
Ethereum (ETH) $ 382.26 1.23%
tether
Tether (USDT) $ 1.00 0.12%
ripple
XRP (XRP) $ 0.249269 1.03%
polkadot
Polkadot (DOT) $ 5.20 1.80%
bitcoin-cash
Bitcoin Cash (BCH) $ 232.41 0.15%
binancecoin
Binance Coin (BNB) $ 27.02 1.72%
chainlink
Chainlink (LINK) $ 9.96 8.67%
crypto-com-chain
Crypto.com Coin (CRO) $ 0.166104 0.13%
litecoin
Litecoin (LTC) $ 48.34 0.50%
S&P 500  ^GSPC 
$3,319.47  $37.54  (-1.12%)
Dow Jones Industrial Average  ^DJI 
$27,657.42  $244.56  (-0.88%)
NASDAQ Composite  ^IXIC 
$10,793.28  $116.99  (-1.07%)
Russell 2000  ^RUT 
$1,536.78  $5.82  (-0.38%)
Crude Oil Oct 20  F*CL.NYM 
$41.15  $0.0700  (-0.17%)
   
$0.0000  $0.0000  (0.00%)