Pennsylvania Hit New Heights In November Sports Betting

Pennsylvania

November witnessed a surge in sports betting activity across Pennsylvania, the total amount wagered (the handle), reached £935.5 million, this figure not only surpassed the previous record set in November 2023 but also marked a significant milestone in the state’s sports betting history, noting that this is only the third instance since the legalisation of sports betting in 2018 that the monthly handle has exceeded the £900 million threshold.

Alongside the record-breaking handle, Pennsylvania’s sports betting operators saw the gross hold, which represents the total amount retained by sportsbooks before accounting for expenses, reached an all-time high of £103.3 million.

The adjusted revenue, which takes into account various deductions, also set a new record at £77.1 million. This figure represents a 498% jump from November of the previous year, The state of Pennsylvania benefited from a £26.2 million in tax income generated solely from sports betting activities.

The November figures highlight the overwhelming dominance of online sports betting in Pennsylvania. Of the total £935.5 million handle, a £886.5 million was wagered through online platforms. This represents nearly 95% of all bets placed.

While online betting claimed the lion’s share of the handle, retail sportsbooks still played a significant role in the overall success. The remaining £49 million in wagers were placed at physical locations across the state. The revenue distribution between online and retail channels mirrored the handle split. Online sportsbooks generated £97.8 million in gross revenue, accounting for the vast majority of the total.