Sports betting in Pennsylvania has been growing in the last few months to bring a much-needed boost to the local economy. The market for sports betting in PA has been growing at a fast rate throughout 2019 with the total income from bets in October topping the previous month’s record by almost $50 million. The market for sports betting is growing with mobile apps expanding the PA market by a large amount with two experienced entrants already planning to expand into Pennsylvania after making their way into the local betting markets in New Jersey.
FanDuel Sportsbook leads the way in October
The records for the highest revenue in bets across Pennsylvania continue to fall month by month with a huge period of growth across October from September. The overall value of bets placed in October reached an estimated $241.2 million to shatter the record for total bets placed in a single month that was set in the previous month. September’s record of $194.5 million was reached because of a huge jump in the market share of bets placed with the FanDuel Sportsbook.
FanDuel Sportsbook has taken a fast jump to the top of the PA sports betting industry with a total market share of bets placed reaching almost 49 percent. The overall growth of the sports betting industry in PA has been driven by the FanDuel Sportsbook and the launch of a series of apps from legal betting sites in the state, including Parx Casino and BetRivers. The development of mobile access to sportsbooks across PA has been a bonus for FanDuel with the market share of the group rising to around 57 percent when bets placed with mobile apps are solely taken into account.
The success of the FanDuel Sportsbook is the leader among the many different options on offer with a share of the market that cannot be matched by the second-placed sportsbook provider in the state, the combined BetRivers and Play SugarHouse sites. The local casinos of Rivers Pittsburgh, Parx Casino, and Rivers Philly all reported bets received totaling over $7 million for October.
The dominance of FanDuel Sportsbook is to be tested
The largest and most successful sports betting site in the state of Pennsylvania at the moment is, undoubtedly FanDuel Sportsbook. However, the arrival of two new entrants into the Pennsylvania market in November could see this dominance tested, particularly by the Draft Kings brand. In New Jersey, DraftKings Sportsbook has been performing well and sits in second-place in monthly earnings in the state as it prepares to bring its name-recognized brand to Pennsylvania.
The DraftKings and FanDuel brands are well known in the U.S. but will now face competition from one of the largest online gaming brand in Europe with the arrival of Unibet in Pennsylvania. The European brand may not be as well known in the U.S. as its local competitors but it has shown its financial power to strike a multi-year partnership with the Philadelphia Eagles to give it a headstart on making an impact on local markets.