PA sports betting handle hits $1.26bn in first half of FY19-20
Players in Pennsylvania spent a total of $1.26bn (£963.1m/€1.13bn) 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 31 December, 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.