Pennsylvania’s sports betting market is doing well so far this year. And as each month passes, the total handle of local sports betting continues to rise. September’s numbers were good at a total revenue of $19.3m with a total handle of $194.5 million. October’s net revenue dropped to $19.1 million, but the Pennsylvania sports betting handle jumped as high as 24% to $241 million. So far, the state consistently breaks its records each month in terms of sports betting handle.
Pennsylvania Sports Betting Handle Growth
Another record that the state has made, is to become the third state in the US to reach the $200 million handle in a month’s time. They are third to Nevada and New Jersey. But what is even more interesting, is that Pennsylvania’s numbers also point to a huge jump in sports betting done online.
From September’s $158.2 million, we see a 26% increase in online handle to $198.6 million in October. We are talking about 82% of all wagers were actually made online. This percentage is quite close to New Jersey’s 85%, further proving the massive potential online sportsbooks have. In fact, a lot of people are moving towards learning to be a bookie, just to get a part in the booming online sports betting industry.
With the help of bookie software, sports betting can now be done online through websites and through mobile apps. This changes the landscape of gambling, as instead of going to a casino, the gambling comes to you. The convenience of having to access lines and wagering options from their very homes makes it very attractive for people to place bets online. And this seems to be a major factor in Pennsylvania’s market growth as well. Since the state started to allow online sports betting, the state has always seen month-on-month increases in the sports betting handle. And the local industry truly has grown. November 2018’s total handle was only at $1.4 million. At this rate, the numbers on sports betting in the state will only rise in the years to come.