FanDuel Rules the Pennsylvania Betting Market in September
Basking in the glow of offering online betting in recent months, Pennsylvania sport betting is beginning to see the fruits of the state’s labor as the September revenue numbers showed a huge jump in total handle behind FanDuel’s spectacular figures for the month.
For the month of September, the 11 casinos that handle sports betting action in the state took in over $194 million in total handle, a 78.4% increase in betting action from August of this year.
September’s handle is a new record, topping the old mark set last month as the state did close to $109 million in handle in August.
Pennsylvania’s sports betting operators brought in roughly $15 million in winning revenue with $9.2 million of that take coming from online betting from customers.
Due the state’s tax rate of 36% on all winning revenue, the state legislature claimed $5.36 million in taxes for the month of September.
81% of all wagers were placed online, a significant increase for the state’s bettors. Just $36 million in cash was bet via physical sportsbooks in the state for the month.
Who is the Leader in Pennsylvania Sports Betting?
The leader in the Pennsylvania sports betting scene is the FanDuel Sportsbook PA housed at the Valley Forge Casino Resort. The sportsbook took in $88,546,350 in total handle for the month, that equates to 45.5% of all bets taken in the state during the first full month of NFL and college football.
The high volume of action using the FanDuel app and on-site sportsbook is indicative of the popularity of the company’s brand and the easy-to-use mobile app that customers seem to thoroughly enjoy using when placing wagers.
Sister casinos, the SugarHouse and Rivers Casino, had solid months for Rush Street Gaming with almost $70 million in total handle for a combined total of $5 million in revenue for the company.
Where There Any Losers in September in Pennsylvania Sports Betting?
Perhaps the biggest surprise with the release of the revenue numbers is the wobbly start to the much-promoted FoxBet app. In its first month, the FoxBet app took just $4.5 million in handle with a winning revenue figure of $231,536.
The revenue figure for the FoxBet app was far behind the other sportsbooks with most making over $1 million in revenue for the gaming operators, but the app was only used partially during the month as the app’s host, Mount Airy Casino, just opened sports betting to customers.
What About Fantasy Sports in Pennsylvania?
DraftKings and FanDuel also ruled the state in fantasy sports play with each company hitting a revenue of over $1.3 million for the month, huge increases from the same timeframe in September of 2018.
DraftKings edged out FanDuel for the top spot as the fantasy site brought in $1,582,253 for the month in daily fantasy play with FanDuel bringing in $1,364,193 for September.
Other online daily fantasy companies including Draft, Yahoo Sports, and Boom Fantasy posted anemic numbers and the case of Yahoo, they posted an actual loss of just over $9,000 in total revenue.
On a total revenue stream of just under $3 million in the daily fantasy game, the state deposited $439,357 in their coffers for the month.