The July monthly revenues are in for Pennsylvania’s sports betting industry, showing that mobile betting is the most popular among participants. For July, the state is reporting $59.3 million in wagers placed, which is a new monthly high. This is only the second full month of betting, so this number will only go higher from here.
Even though sports betting has only been in full swing online for a short time, it has already outdone physical sports betting. Of the July total, $38.9 million came from online wagering. This is around two-thirds of the betting for the month.
Of that amount, over $5 million in revenues was generated. This number goes down a bit though when you consider promotional credits provided by the sportsbooks. Rivers and SugarHouse spent around $1 million each in credits with FanDuel giving away around $120,000 and Parx at $90,000.
The July totals are quite large when comparing the $46 million in bets placed in June.
Individual Breakdown
For July, around 45% of the bets placed were done via the SugarHouse Sportsbook. The site of PlaySugarHouse PA took in $22 million wagers. This was way more than the competition and is somewhat expected as the brand was the very first to enter the market. Even though the brand had a huge promotional credit offer for the month, they made over $540,000 in revenues. Parx was able to see around $3.6 million in wagers placed online while FanDuel had just a little less at $3.3 million. When it comes to land-based wagers, Rivers beat out SugarHouse with $4.4 million to their $4.3 million.
Over the next few months, the state should see even more bets and earnings as the college football and NFL begin their new seasons. The NCAA kicks off in August while the NFL begins in early September. Football is the most popular time for sports bettors as players want to place bets on their favorite teams, during rival matches and the Super Bowl.
In the United States, football reigns supreme with betting and in Pennsylvania, it is expected that players will come out in full force to take advantage of land-based and online gaming options. By the September totals, Presque Isle Downs will have their retail book up and running and perhaps that will be a few more by September.
If the books launch, they will be able to provide the state with even more revenues. Players are enjoying both land-based and online options, but as the most recent trend shows, online is where its at. With a mobile device, players can wager from anywhere, making the option the most convenient.
It will be interesting to watch the industry in the coming months as it continues to develop and offer new and exciting options for players. For now, New Jersey is the frontrunner when it comes to sports betting, but over time, Pennsylvania might become stiff competition!
