PA Sports activities Betting Breaks Deal with Document For Second Straight Month In November

Pennsylvania sports activities betting operators set one other deal with file in November. The Pennsylvania Gaming Management Board (PGCB) reported a brand new file of $934.1 million in whole November bets. This beat October’s earlier file of $829 million in deal with.

Regardless of the file wagers, PA on-line sportsbooks solely introduced in $49.1 million in income, down from almost $73.6 million final month.

PlayPennsylvania Managing Editor, Chris Imperiale, stated:

“Pennsylvania sports activities betting continues to succeed in new heights. The mature market posted one other new file for general deal with within the state, producing over $934 million in whole bets in November. It is a 12.7% improve from October’s earlier file displaying and a greater than 18% climb from November 2022. After all, NFL betting drove nearly all of the motion, however the return of the NBA and its first in-season event helped, as nicely. The market is displaying it nonetheless has room to develop, which may probably imply one other file is on the way in which in December.”

November 2023 numbers for Pennsylvania sports activities betting

💰 Deal with: $934.1 million (12.7% MoM improve; 18.4% YoY improve)

💸 Income: $49.1 million (33.3% MoM lower; 30% YoY lower) / Adjusted Gross Income (taxable): $12.1 million

👐 Maintain: 5.2% (down from 8.9% final month)

💻 % of bets positioned on-line: 93.9%

🎁 Promotional credit: $36.3 million

🧾 November sports activities betting taxes: $4.4 million

🏢 State and native entities: $257,680.70

📱 High sports activities betting app by deal with: FanDuel Sportsbook PA with $384.1 million

📱 High sports activities betting app by income: FanDuel Sportsbook PA with $19.1 million

Fast evaluation from November PA sports activities betting figures

• Pennsylvania sportsbooks as soon as once more proved that the market has not absolutely matured. The state set a file in consecutive months for deal with. It’s apparent that sportsbooks gained’t sustain this spectacular tempo when soccer winds down, because it’s clear that soccer season continues to be king and stronger than ever within the Keystone State. Pennsylvania has one other full slate of NFL and faculty bowl video games in December earlier than NFL playoffs take heart stage in January.
• Regardless of the file deal with, Pennsylvania sportsbooks produced simply $49.1 million in income. Sportsbooks weren’t capable of money in on a record-breaking month, recording a minuscule 5.2% maintain proportion. Sportsbooks are hoping for extra upsets in December and January.
• Pennsylvania sportsbooks spent a file of $36.3 million in promotions in November. Operators lately set a excessive mark again in September, through the begin of soccer season. Lots of them have saved spending promotional {dollars}, which is a giant contributor to the file deal with. PENN Leisure led the state in promo spend, as Barstool Sportsbook PA exited and ESPN Guess PA launched in mid-November. Partnered with Hollywood On line casino, the license spent $14.8 million in promotions. It misplaced $7.8 million in income final month. As ESPN Guess PA establishes its footing within the Keystone State, it’d take a while earlier than it begins to generate important income.

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