Pennsylvania’s online and retail sports bookmakers hit a new revenue record with nearly $85 million, from more than $760 million total betting for November.
The state’s betting sites recorded $761.6 million in November, the second highest in the region. Bets for the month showed an increase to 59% from the previous year.
While November did not break October’s record of $776.3 million, daily betting volume was $25.4 million a day, compared to $25 million a day in October.
November produced $84.9 million in gross revenue, easily surpassing January’s $49.3 million total.
Year over year, revenue increased by 75%; the month generated $63.7 million in taxable income after $21.3 million in promotional spending, which yielded $23 million in state taxes.
Online bookmakers accounted for 92% of total Pennsylvania revenue. FanDuel led the online market with $238.6 million in bets, second to DraftKings with $215 million in bets, and Penn National’s Barstool came in third with $74.3 million.
Retailers produced $57.5 million in bets for November, up 7% from $53.5 million for October.
Profits beyond sports betting
Online casinos and poker rooms produced $114.5 million in gross gaming revenue but fell short of an October record of $117 million. November revenue was 58% higher.
Online casinos earned $3.8 million in daily gross gaming revenue during the 30 days of November, similar to the pace of the previous month. However, betting at online casinos dropped to $3.8 billion in November from $4.1 billion in October.
Poker alone generated $2.8 million in revenue and PokerStars led the market with $1.8 million. In total, online casino and poker produced $93.9 million in taxable income, which generated $39.1 million in state taxes.