Those who wish to open a sportsbook will be encouraged as they will continue to see more reports of better sports betting handles in sportsbooks. The latest Pennsylvania sportsbook report, for instance, shows a higher monthly betting handle in the month of October. In fact, we are seeing monthly and year-on-year increases in handle, revenue, and win rate as well.
The Keystone state has a total monthly sports betting handle if $797.1 million for October. Any sportsbook pay per head will also likely have higher numbers for October since the month is packed with football games, as well as basketball games. For Pennsylvania, the October handle is actually 23.5% higher than the September handle.
Pennsylvania Sportsbook Report and Gains
Those who prefer to use an online sportsbook software to place wagers in the state continue to take majority of the sports betting pie, with mobile sports betting accounting for around 85% of the revenue for October, and 91.9% of the total handle. This means that only 8.1% of all wagers in October come from brick-and-mortar sportsbooks.
Meanwhile, the total revenue for sports betting in the state is $40.5 million. This gives us a 5.1% hold for the month. To compare it with the previous year, in October 2021, the revenue was $23.5 million, 72.2% lower. The hold during the same month last year was lower at 3% as well.
November could also have us see a higher handle in sports betting in the state as well. In addition to football and the NBA, college basketball will be opening at sportsbooks soon. The FIFA World Cup, and other events, like the Formula 1, will also take place in November. The increase in sports events will definitely help bring in action to one’s sportsbook. Thus, efficient player and line management will be more important for bookies in the months to come.