December was a good month for the Pennsylvania gambling market. Not only did they see the second-best monthly handle in state history, but they also set a new record for the highest monthly revenue. It is not only a good way to end the year and boost the yearly numbers, but it is also a great indicator of what we should expect this year.
If you look at the activity your sportsbook gets, you will be able to identify betting trends unique to your sportsbook. There are two main factors there: player preferences and the sports calendar. Your Pay Per Head Sportsbook provider will give you all of the tools that you will need to gather the data you will need as a bookie. Looking at the Pennsylvania report will give you an idea on what to do, and how to analyze the information.
During December, the NFL, NBA, and the NHL dominate the sports world in the US. There are quite a few popular leagues in the US, alongside betting on events in tennis and golf. But for the most part, hockey, basketball and football take the largest share in terms of viewership. And in sportsbooks, they also take the top sports in Pennsylvania as favorites in betting. The same goes for their collegiate counterparts.
Pennsylvania Gambling Market in December: Sports Betting
And since your bookie software solution makes it possible for your players to bet on sports from home, it also helps boost betting numbers. Winter is here, and with online sportsbooks, the weather is no longer an excuse to miss out on betting on your favorite teams.
In fact, December’s handle is at $925.6 million for Pennsylvania sportsbooks, the closest to ever reach the record of $934.1 million from November. The December handle is also 22.6% higher than December 2022, so we are seeing remarkable growth. Meanwhile, the hold is at 10.6%, giving sportsbook operators a $98 million gross revenue, which is 37.7% higher than December 2022, and a whopping 99.5% higher than November 2023’s. Even when you take out promotional bets, the adjusted revenue is still high at $72.5 million- and still the best in the state. The state also gets to benefit from this, collecting $24.7 million in tax revenue.
Pennsylvania Gambling Numbers
Like with any bookie who uses our sportsbook, markets that offer a wider variety of gambling options tend to take in more in handle and revenue than other states. Pennsylvania, for instance, offers retail and online gaming. For December, the total gaming revenue for December is a new record high $534 million, with $165.1 million coming in from iGaming activity, making December 2023 the best month for gambling in the state as well.
This means that operators in Pennsylvania had a very profitable 2023. The sports betting handle totals $7.68 billion, and the total adjusted revenue is $458.6 million. Online casino revenue is $1.7 billion for the year. All of these numbers show an increase from 2022, so we are still on track for a growing gambling market in the Keystone state.