Pennsylvania has shared its sports betting October revenue figures and from the look of things, not much has changed. According to the October revenue figures, while other areas have fared normally, it seems that the sportsbooks have performed quite well.
In October, Keynote’s sports betting operators generated $241.2 million in bets which is a considerable increase compared to September’s figure. Back in September, the amount in bets stood at $194.5 million which is an increase by a whole $46.7 million. 82% of the total bets in September were wagered online.
According to affiliateinsider.com, the combined revenue for the Pennsylvanian sportsbooks was revealed to be $19.1 million, which is a slight decrease from September’s $19.3 million. As for October, online sources generated total betting revenue of $14.4 million while the win rate for the bettors stood at seven percent.
The top sports betting operator in Pennsylvania was Valley Forge Casino which is FanDuel Sportsbook partner. FanDuel’s online sportsbook platform contributed $113.9 million of the $118 million total revenue that the company had generated this month.
The site was also a key contributor to Valley Forge’s $8.2 million total revenue as it generated $8 million.
Second in position on the revenue list was River Casino Philadelphia. The casino accumulated $3.2 million in revenue from the $37.2 million total wagers. Online sources contributed $2.4 million. On its part, iGaming generated a total of $30 million of the revenue collected.
The other casino that contributed more than $1 million was Rivers Casino Pittsburg others had contributed less than a million. Rivers Casino handled $34.2 million in bets and was able to retain $2.3 million in sports betting profits.
In as much as there is a slight decrease in the overall gambling revenue, the Affiliate Insider claims that the sportsbook in Pennsylvania has performed exceptionally well. Most of the profits are generated from the online platforms owned by only a few operators while the rest have contributed much less.
With the launch of the DraftKings’ mobile sportsbook maybe there would be some changes. DraftKings which is popular for its daily fantasy games and sportsbook added Pennsylvania to its operational areas after launching its mobile product.
The brand is prominent in New Jersey and Nevada and has lately extended its wings to Indiana. For players in the Keystone State, they will be able to bet on college and professional games. They can do this either online or in-app.
Affiliates also stand to benefit from the launch if they join the DraftKings affiliate program. When new users join via links provided by an affiliate, they will get 40% gaming revenue in the first thirty days and then the commission structure will shift to 25%.
Jason Robbins, the co-founder of DraftKings explained that Pennsylvania being home to two big sports cities and college programs was an ideal sports betting market because of its massive fan base.
Whether DraftKings will have an impact on the state’s revenue or not will be concluded when the November figures are released.