Pennsylvania Sees Increase in Sports Betting Handle in October

Handle Up Despite Revenue Decline

Pennsylvania’s online sports betting industry continues to grow. The total online sports wagering handle in October 2024 reached $811.8 million, marking a 6% increase from September’s handle of $765.5 million.

Despite the significant increase in handle, Pennsylvania recorded a 37% decline in revenues during the same period, dropping to $56.2 million in October. This aligns with trends in other jurisdictions where October was also not the most profitable month for sports betting operators.

Considering gross revenue, there was an even more substantial decline of 46%, down to $25.4 million. This directly impacted the state’s tax revenue from online sports betting operators, which fell to $8.7 million in October.

Decline in Retail Operators’ Revenues

As usual, online betting constituted the majority of the state’s handle and revenue. Retail sports betting handle reached $46.3 million in October, an increase of just under $1 million compared to September.

Nevertheless, it’s worth noting that over 94% of all bets in Pennsylvania in October 2024 were placed online.

This also translated into significantly lower revenues for retail operators, with gross revenue in October reaching $1.9 million—a nearly 70% decrease compared to September.