PA sports betting handle grew for the second consecutive month despite the third straight full month without major sports,<\/p>\n
Handle hit $89 million in June, up 14.8% from May and 93.4% from April. Revenue hit $8 million, good for an 8.9% hold, according to the state report.<\/p>\n
June marked one year since the first full month of online sports betting in Pennsylvania. Mobile accounted for just 41.7% of the $46.3 million in total handle from last June. While operators clearly hoped for a higher mobile share a year later, no one could have predicted the 99.2% share last month as casinos started to reopen from the coronavirus pandemic.<\/p>\n
And while any growth is good without major sports, Pennsylvanias figures arent growing quite as strongly as one of its neighbors.<\/p>\n
New Jersey sports betting has started to turn around much quicker than its western neighbor in Pennsylvania.<\/p>\n
NJ handle hit $165 million in June, up 40% from May. And that $117.8 million handle in May is 32.4% more than PA sports betting recorded for June.<\/p>\n
Theres likely one big reason why New Jersey is ramping back up quicker than Pennsylvania. And its not just the nearly year-long jump New Jersey had on mobile sports betting.<\/p>\n
Its likely the betting that comes from New York City. New Yorkers wagered an estimated $837 million at New Jerseys sportsbooks in 2019, according to Eilers & Krejcik Gaming.<\/p>\n
An interesting trend that came out of the coronavirus pandemic was a bump in all iGaming, but especially online poker. Sports bettors tend to gravitate toward table games over slots with favorites including poker and blackjack.<\/p>\n
Online poker revenue started to grow in both Pennsylvania and New Jersey in March.But that revenue declined month-over-month for both states in June along with total iGaming revenue for both states.<\/p>\n
Total bets for online banked table games, like blackjack and roulette, also took a big hit in Pennsylvania last month. Mays drop hit an all-time high of $778.5 million only to fall 18.3% to $635.7 million in June.<\/p>\n
While this likely reflects the reopening of casinos and many other activities, part of those declines can likely be attributed to sports bettors getting back to what they know best.<\/p>\n
That trend will be better tracked over the next few months as major sports like the MLB, NBA, NHL, and eventually the NFL in September return.<\/p>\n
<\/p>\n
See the article here:<\/p>\n
Promising PA Sports Betting Report Still Not Quite On Par With Neighbor - Legal Sports Report<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" PA sports betting handle grew for the second consecutive month despite the third straight full month without major sports, Handle hit $89 million in June, up 14.8% from May and 93.4% from April. Continue reading