Monthly Pennsylvania sports betting volume was able to exceed $800 million for the first time in October, undoubtedly fueled by the busy football schedule that included popular and contending teams in Philadelphia, Pittsburgh, and State College.
The $829 million in combined handle with 12 mobile sportsbooks and 18 retail sites was 4% higher than the prior record of $797.1 million in October 2022, according to the monthly data released Friday by the Pennsylvania Gaming Control Board. It was also 14.1% above what sportsbooks attracted in September betting.
Sportsbook revenue of $73.6 million gross winnings and $48.2 million after promotional credit deductions was not an all-time high, however. The books’ hold rate of 8.9% – the percentage they retained from wagers – was well below that of the record $84.9 million/$63.7 million revenue month of November 2021.
While last month’s $25.5 million in promotional credits from the operators to entice bettors was substantial and helped drive the record volume, it was still less than the record $29.5 million given away this September to start the new football season.