Pennsylvania Bettors Wager Record $109M On Sports In August
Pennsylvania bettors "wagered a record" $109M on sports in August, up 84% from July, according to Andrew Maykuth of the PHILADELPHIA INQUIRER. The wagers "covered the first weeks of the college and exhibition pro football seasons." Online wagering accounted for $83.2M, or "more than three-quarters of all sports bets in August." FanDuel Sportsbook at Valley Forge Casino, in its first full month of operations, already "accounts for more than a third of the state’s sports bets, mostly online." Sportsbook operators raked in $9.9M in "revenue from sports betting," up from $5.1M in July. State and local governments cleared $2.1M in "tax revenue from sports betting." The "rising dominance of online sports betting over brick-and-mortar retail sportsbooks is not surprising." Online betting "accounts for about 85% of all sports betting in neighboring New Jersey." FanDuel called itself the "clear market leader" for online sports betting in Pennsylvania, having handled 42% of the online sports bets and capturing 46% of the online sports-betting revenue (PHILADELPHIA INQUIRER, 9/17).