Pennsylvania Sports activities Betting reaches one other milestone

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PA Sports betting numbers continued to rise to record highs in January.

A record $ 615.3 million was set after that last month Pennsylvania Sports betting status report released on Wednesday. That exceeds the previous record of $ 548.6 million In December.

The stakes generated $ 33.9 million in gross receipts a decrease from that $ 34.1 million In December.

PA sports betting regulators collected $ 11.5 million in taxes.

Sports betting in Pennsylvania stays online

More than 94% of Pennsylvania bets were made online in January. That number is a slight decrease from December 97.6% Share online.

The online handle almost reached $ 580 million.

Operator issued $ 15 million Advertising loan that drags the gross receipts on $ 29.9 millionwhich is roughly $ 10 million in state taxes. Sports betting income in Pennsylvania is taxed at the highest tax rate in the country 36%.

Online promo credits galore

In the run-up to Super Bowl LV, the operators shot out $ 4 million more promo credits than in December.

FanDuel $ 6.3 million made up a significant part of the month $ 15 million in promo credits. DraftKings spread out $ 2.8 millionwhile BetMGM increased their promos to $ 2.4 million, from 719,366 USD in his first month.

Barstool increased its advertising credit $ 1.4 millionof about $ 800,000 In December.

BetMGM grows in the market

In its second month of operation in Pennsylvania BetMGM grew his grip $ 39.3 million, or 7% of the market. This is off $ 12.1 million and 2.3% In December.

Market leader FanDuel took $ 220 million at betting good for 38% in online market share, down from December 38.8%. Second place DraftKings remained relatively stable at 24.7% With $ 143.5 million in bets.

barstoolThe handle was noticed $ 65 million – – 11% Online approval – by $ 71.8 million.

BetRivers maintained its fourth place online share 8th%. Its share has decreased from 10.6% in November when BetMGM is on its heels.

Sports betting in Pennsylvania is keeping up

After a handle fell off in November, the Trapezoidal state is back with two consecutive months of growth.

Pennsylvania is done 2020 with the third highest handle behind it New Jersey and Nevada::

  • New Jersey – 6 billion dollars
  • Nevada – $ 4.2 billion
  • Pennsylvania – $ 3.6 billion

Now it is the third state in the $ 600 million monthly handle club.

Pennsylvania will work to keep its third place as a state Colorado, Illinois and Michigan mature and more populous states are considering legalizing sports betting.

However, the state's massive tax rate is likely to keep the state close to the top of tax revenue.