Pennsylvania's sports betting down 2.4% in May, waiting for full online revenue

Sports betting handle in Pennsylvania in May was down for the second consecutive month since hitting a peak of $44.5 million in March, though the first four days of online sports betting action suggested a broader audience was about to join in. Bettors wagered $35.9 million on sports in May, down 2.4 percent from April and down 19.3 percent from March, according to a report released Tuesday by the Pennsylvania Gaming Control Board.

SugarHouse Casino, the first casino to launch online sports betting on May 27, said that bettors placed $573,163 in interactive wagers during the last four days of the month.

Sports betting generated about $1 million in state and local taxes in May. It has brought $7.1 million taxes on $198.3 million in total wagers since it launched in November.

*SugarHouse Casino revenue includes online operation for three test days (May 28,29,30) and one-half day of operation on May 31.

For the fourth consecutive month, Rivers Casino in Pittsburgh led in sports-betting volume with $7.9 million, ahead of SugarHouse and Parx Casino in Bensalem. Parx also takes bets at its South Philadelphia and Oaks off-track betting outlets; when the two satellite operations are included, Parx took in $10.9 million in bets.

Parx, BetRivers, FanDuel at Valley Forge Casino, Harrah’s Philadelphia, Hollywood Casino at Penn National, and Presque Isle Downs plan to launch online sportsbooks this summer — Parx and Rivers could launch this month, according to The Philadelphia Inquirer.

With the launch of online sports betting, industry experts say betting will grow dramatically in Pennsylvania. In New Jersey, customers placing bets on mobile platforms or from desktop devices now account for about 80 percent of the sports betting volume.

As for May’s fantasy contests revenue, it marked $1,803,056, an increase of 35.39% over May of last year when fantasy contests revenue was first tracked and taxed in the Commonwealth. Tax revenue collect from the play of fantasy contest was $270,458.

Table and slots game up

Figures released Tuesday by the Pennsylvania Gaming Control Board show that table games revenue for May 2019 was $76,559,198, an increase of 2.2% over May of last year when revenue was $74,908,874.

Additionally, the Board is reporting that when combining May’s table games revenue with the earlier reported May slot machine revenue, total gaming revenue increased by 2.6% compared to May of last year. Total tax revenue from table games play during May amounted to $12,310,469 with an average of 1,281 tables in daily operation statewide.