The Rivers Casino Sportsbook was only open for half of December but still managed to accept the most bets during the month. For December, the Pittsburgh-area casino generated $5,581,553 in handle, just ahead of sister sportsbook SugarsHouse Casino, which accepted $5,539,806 in wagers and was also open for just two weeks.
Despite launching in November, Harrisburg’s Hollywood Casino at Penn National Race Course came in 3rd place. For the month, the three sportsbooks combined to generate an impressive $722,356 in tax revenue. A full report can be seen below:
|December 2018 PA Sportsbook Revenue|
|Casino||Handle||Handle Per Day||Revenue||Tax|
|Hollywood Casino at Penn National Race Course||$5,051,730||$162,959||$299,222||$107.720|
Sports betting handle is a measure of the amount of money wagered in a sportsbook, a good representation of the total sports betting activity. Sports betting revenue can be seen as the amount of money won or lost by the sportsbook.
Taxes paid by sportsbooks are based on the revenue generated per month. Pennsylvania’s sportsbook tax rate of 36% on revenue is much higher than other states including neighboring New Jersey, which charges a 9.75% tax on land-based sportsbooks and 13% on mobile and online sports betting. While the high rate was initially believed to be prohibitive for sportsbooks in the state, six sportsbooks have began taking bets with another two readying for launch.
January numbers will provide more clue to market
Although December numbers provided observers with a clue to how the market could shape up, January will provide even more insight into where Pennsylvanians are placing their bets. Not only will three sportsbooks have a full month of numbers to report, but three additional sportsbooks also came to the state during the month.
Greenwood Gaming and Entertainment’s Parx Casino, the biggest casino in the state, went live with two sportsbooks, one each at the Parx Casino and the Philly Turf Club. Harrah’s followed suit just last week with a sportsbook of their own at the Harrah’s Philadelphia location.
Add a full month of NFL playoffs, and of course the Super Bowl this Sunday, and numbers we see come out the next two months could really turn some heads.[wp_social_sharing social_options=’facebook,twitter,linkedin,reddit’ facebook_text=’Share on Facebook’ twitter_text=’Share on Twitter’ linkedin_text=’Share on Linkedin’ reddit_text=”Share on Reddit” icon_order=’f,t,l,r’ show_icons=’0′ before_button_text=” text_position=” social_image=”]