The sports betting industry in Pennsylvania took a major hit during the ongoing COVID-19 pandemic, but it appears that things are now back on track. Sports betting handle in the state set a new record in August, and the numbers should continue to grow in the coming months.
Pennsylvania posted a sports betting handle of over $365 million in August, which shattered the previous record of $348.4 million set in January 2020.
Other states around the country have also posted some impressive numbers in August. New Jersey set a new record for the entire sports betting industry by reporting a handle of more than $668 million in August.
That means that the two states, New Jersey and Pennsylvania, combined for more than $1 billion in sports betting handle during August. That intake signals good things ahead for the sports betting industry.
The return of live sports in August set the stage for what was a massive month. What’s impressive about the August sports betting handle is that it did not yet include the NFL, which didn’t kick off until September 10th. Betting on the National Football League traditionally brings in the most revenue for sportsbooks and Pennsylvania will likely have a new record once September numbers are released.
Barstool Sportsbook is also set to launch this month, and that should bring another boost to the sports betting industry in Pennsylvania. Penn National Gaming has been preparing to launch their new sports betting app which will be unveiled soon.
The increase from July to August was more than 121 percent, and the numbers are now even better than they were before the pandemic hit. There is more sports betting competition throughout the United States, but Pennsylvania remains one of the top wagering markets in the country.
Mobile Sports Betting Leading the Way
Mobile sports betting once again brings in the majority of total sports betting handle and revenue in Pennsylvania. The casinos and retail sportsbooks are back up and running throughout the state, but most bettors continue to use their mobile devices to bet on sports.
Mobile sports betting accounted for more than 88 percent of the total sports betting handle, which equated to $321.55 million for August. The mobile betting handle was up by more than 107 percent from the numbers reported in July.
Mobile betting did account for almost 95 percent of all bets made in July, but that was because most of the retail sportsbooks remained closed. Now that the entire industry has reopened, experts predict that mobile betting will account for close to 90 percent of the handle.
Other Gaming Numbers Strong As Well
Not only did the sports betting numbers increase in Pennsylvania, but the entire gaming industry saw a boost as well. Gross gaming revenue from the 12 brick and mortar casinos in Pennsylvania was reported at $306.3 million during August.
The August 2020 gaming numbers were not only an increase from the figures reported in July, but also increased over August 2019 numbers. Total gross gaming revenue went up by almost five percent year-over-year, another sign that the gaming industry is back in full force.
Online gaming was also up from the numbers reported in July, and saw an increase over last year’s numbers for the same month. Last August, online gaming brought in a gross revenue of just $2.5 million, but this year that figure rose to more than $39 million.
