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PA sports betting handle hits $1.26bn in first half of FY19-20


Players in Pennsylvania spent a total of $1.26bn on legal sports wagering in the first half of the state’s 2019-20 financial year, while revenue for the regulated market reached $91.4m during the period.

Pennsylvania launched its legal sports betting market in December 2018, with the first online wagering sites going live from May 2019.

During the six months to December 31, 2019, operators handed out a total of $26.6m in promotional credits, which meant that taxable gross revenue came in at $64.9m, according to the Pennsylvania Gaming Control Board (PGCB).

Players wagered a total of $1.0bn online, with licensed operators generating revenue of $69.2m for the period. After accounting for promotional credits, taxable gross revenue amounted to $42.6m.

In contrast, despite being legal seven months longer than online, retail was only able to generate $22.3m in taxable gross revenue for the period, as players spent $260.0m.

In terms of fantasy sports, the total fees collected from participants in the state during the first six months of the 2019-20 financial year amounted to $142.7m, with adjusted revenue for the period standing at $15.2m.

Meanwhile, the PGCB also released results for its online casino games market, with overall gross revenue for the sector amounting to $33.6m. Interactive slots were responsible for the majority of this amount, generating $20.9m from $612.9m in total player spend during the period.

Online banking table games collected $8.2m in revenue off $591.2m in wagers, while rake and tournament fees from non-banking tables (poker) amounted to $4.4m.

In terms of land-based slots revenue for the first half of the financial year, the PGCB said gross terminal revenue amounted to $1.16bn, after players spent a total of $14.9bn. Land-based table games also generated $449.8m in gross revenue.

Video gaming terminals (VGTs), which have been legally offered in Pennsylvania since September 2019, were able to bring in $2.3m in gross revenue, with players having wagered $24.4m during the first few months of operation.

For the 2019 calendar year, the state generated total revenue of $3.41bn, a 4.5% year-on-year increase. This came predominantly from land-based slots, which accounted for $2.36bn of the total, down 0.3% from 2018. A further $903.6m came from table games, up 2.8%.

iGaming’s calendar year contribution, considering the market opened in July, was unchanged at $33.6m, while sports betting revenue for the 12-month period came in at $84.1m. VGTs contributed $2.3m, and fantasy contests enjoyed a strong 2019, with revenue up 68.9% to $25.9m.

Image: S.MacMillen