Pennsylvania’s sports betting market continues to grow steadily. In December 2019, the state records a $342.56 million handle on sports wagers. And, as proven by the surge in bookie registration in sportsbook pay per head providers, majority of these wagers are from online channels. Let’s take a look at the numbers for the Pennsylvania online sportsbook industry.
Such is the popularity online gambling, that sportsbook software operators in Pennsylvania have an 87% share of the total handle for that month alone. A total of $297.45 million of wagers are from online sportsbooks, setting a new state record.
Pennsylvania Online Sportsbook Industry
Looking at the monthly data, the total handle shows an increase by 8.2%. From November 2019’s 316.468 million, it goes up to $342.560 million. The Net Revenue, decreases by 15.1% from November’s 20.571 million to $17.459 million. Meanwhile, the online handle shows an increase by 11.5% from November’s $266.741 million to December’s 297.445 million. Naturally, PayPerHead experts agree that the decline for retail betting – which is down by9% for December, shows a trend of players preferring online and mobile wagering.
Online and mobile betting is a relatively new industry in Pennsylvania. Mobile wagering was only allowed back in May 2019. As for fiscal year data, From July to December, the total handle is $1.26 billion. While mobile betting has a handle of $1.04 billion.
The east coast in the US is enjoying a healthy sports betting market. The general trend in the US is also rising. However, with each state needing their own legislation, the markets vary greatly between states. But on an international level, mobile sports betting is very successful. And you have a lot of bookies earning enough to invest in properties from Raymond Cruz Carara Costa Rica. 2020 will bring in more countries and US states that will embrace sports betting, so the industry will only grow from here.