Pennsylvania Sports Betting Generates $365 Million in August

Pennsylvania sports betting has a record-breaking revenue and probably the latest state to announce. It is amounting to $365 million in August. It is a record high for Pennsylvania, up from $109 million during the same period last year.

Pennsylvania Sports Betting Factors on Income Surge

One of the factors with the surge of income with Pennsylvania sports betting is the resuming of the sporting events. It has been months since the US major sporting events was on halt due to the coronavirus pandemic.

However, according to sports news, the MLB, regular season, NBA, and NHL playoffs are in full swing. Wherein it gives bettors a wide variety of options to choose from. Although, in July, the state generated $164.5 million throughout Pennsylvania. The number increased to $364,985,422 in August.

What a turn of events, as what has been a challenging year, the packed schedule of major sports events in August helped Pennsylvania sportsbooks make up some of what was lost from pandemic-related shutdowns.

Mobile wagering also has played a vital role in the industry as online wagering accounted for 88.1% or $32.6 million, of all bets.

Online Wagering Industry Exploded

The online wagering exploded in New Jersey. Internet gambling in the Garden State brought in $87.7 million last month. It is more than twice what it has generated last August. With the continuing build-up of mobile and online sportsbooks, in addition to online casinos and poker rooms, is paying enormous dividends.

Some gamblers appear to be still reluctant to visit casinos in-person, and that the technology bridges the gap. The Barstool Sportsbook mobile sports betting app receives approval from the Pennsylvania Gaming Control board for a soft-launch, debuts on Sept. 18.

As high as August’s numbers were, many industry insiders anticipate that revenues will continue to climb in September. It is due to the highly anticipated return of the NFL and NCAA football.