Pennsylvania Latest to Report Record-Setting Sports Betting Month

The Keystone State has become the latest sports betting market to report record-setting numbers in November. 

The Pennsylvania Gaming Control Board (PGCB) has reported an all-time high sports betting handle of $935.5 million. This broke the old record of $934.1 million, set last November. Sportsbooks also had a winning month, with gross revenue reaching $77.1 million. That number is up almost 500% compared to the previous year when operators took a beating.

NFL Season Drives November Numbers

The AGA predicted  that the NFL betting season would see record-high numbers, which has been the case through November. The sport's popularity has led to a massive uptick in wagers in several states, including Pennsylvania.

The state has two NFL teams: the Pittsburgh Steelers and the Philadelphia Eagles. Both teams enjoy strong seasons, leading more fans to wager on them. While the state is home to numerous pro and college sports teams, the NFL franchises have the largest fanbases.

FanDuel Leads Market

It appears FanDuel has established a massive lead in the Pennsylvania sports betting market. In November, the operator saw over $373 million in wagers, just over $127 million more than second-place DraftKings. That represents the largest gap between the two rivals in the US.

While ESPN Bet is far behind the top operators, it surpassed Fanatics and bet365. The Penn platform has been struggling across US markets, but things appear to be trending in the right direction in the Keystone State. 

No Plans for Tax Hike

With several states reporting an uptick in sports betting, proposals to raise tax rates for operators have begun to pop up. Some lawmakers believe that the states deserve more as the market grows. However, fierce opposition from industry operators has led those proposed hikes to fail.

Pennsylvania is one of the few markets that has yet to discuss raising its rate. At 36%, the state’s rate is already one of the highest in the country.