Monday, September 26, 2022

Pennsylvania s sports betting market produces 6 5bn in wagers for 2021

Pennsylvania’s online and retail betting outlets reported $750m in sports wagers and a record $127.6m in online casino revenue for December.

According to PlayPennsylvania, the state also brought in over $6.5bn in sports wagers for the full year 2021, $122.5m in tax revenue from sports betting and around $1.3bn in online casino revenue.

During the last month of 2021, Pennsylvania’s sportsbooks accepted $750.4m in wagers, up 37% year-on-year; however, December’s betting volume went down by 2% compared to November.

December generated $38m in gross revenue for sportsbooks, down 16% year-on-year. After $19.1m in promotional spending, sportsbooks reported $18.8m in taxable revenue, and $6.8m in state taxes and local share assessments.

For the year, Pennsylvania’s retail and online sportsbooks produced $6.5bn in wagers, up 83% compared to the previous year; $6bn in online wagering, up 84% from 2020; $505.5m in gross revenue, up 87% and $122.5m in state taxes, up 79% from the previous year.

For the month, online sportsbooks produced 92% of the state’s handle, with FanDuel topping the online market with $246.8m in wagers. DraftKings followed with $204.7m in wagers and BetMGM came in third with an $83.5m handle.

Retail sportsbooks accepted $57.1m in wagers for December, down from $57.5m for the previous month.

Online casinos and poker rooms produced a record $127.6m in gross gaming revenue for December, up 18% year-on-year.

For December, online casinos games and poker rooms generated $102.1m in taxable revenue, which produced $42.5m in state taxes and local assessments.

Pennsylvania was the second-largest US market for online casinos for 2021, generating $1.3m in gross gaming revenue from online casinos games and poker rooms (up 91% from 2020) and $466.4m in state taxes.

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