Pennsylvania broke multiple records this October on both the sports betting and online casino front. With $797 million in sports betting handle and over $124 million in online casino revenue. Those are both the best months ever for the state.
The strong performance from digital resulted in $450.2 million in land-based and online revenue for the month. That is a 5.7% increase from October 2021.
Handle was fantastic for Pennsylvania, but the same could not be said for hold. Coming off double-digit hold of 11.6% in a massive September for sportsbooks, hold fell back to Earth with $61.5 million in gross gaming revenue and a hold percentage of 7.7%.
Adjusted gaming revenue looked even bleaker thanks to two months of heavy NFL promotional spending. With over $21million in promo credit spend last month, taxable sports betting revenue came in at $40.5 million with roughly $14.5 million being paid in taxes to the state.
FanDuel and DraftKings continued to dominate sports betting in the state, with $292 million and $232 million in handle respectively. FanDuel continued to have strong hold, with a hold percentage of 11.2% while DraftKings posted just 4.6% with $10.6 million in revenue. FanDuel actually spent slightly more on promotional credit than DraftKings generated in GGR. That dragged the $32.7 million in GGR down to $22.1 million in taxable gaming revenue.
On the online casino side, Hollywood Casino had the largest chunk of market share with $52.7 million in revenue, divided into $35.2 million from slots, $17.2 million from table games, and a scant $308,000 from online poker. The Rivers online casino brands were second in the ranks with $29.2 million, and FanDuel rounded out the top three with $23.4 million.
The breakdown of revenue across the online casino verticals was $86.3 million from slots, $35.7 million from table games, and $2.5 million for poker.
