Pennsylvania reports record gambling revenue in November
Pennsylvania set a new state sports betting handle as state users wagered a record $562.4 million in November.
Despite the tremendous amount of handle in Pennsylvania, the state saw a decrease in sports betting tax revenue during the fiscal year.
In total, the state reported $175,163,915 in sports betting tax revenue for the previous year. The state taxes sports betting at a 36% rate, one of the highest sports betting tax rates in the country.
Online sports betting dominated all categories in the state, with Pennsylvania users betting more than $7.6 billion through licensed sports betting operators compared with just $495.5 million bet in retail sportsbooks. Online sports betting produced $448.5 million in taxable revenue in the fiscal year compared with just $38.01 million in retail sports betting revenue.
During the year, however, the number of sports betting options decreased in the state by three. One off-track betting facility, Parx Malvern, and two online sports betting operations, FoxBet and Unibet, all ceased operations in Pennsylvania. Additionally, Hollywood Casino York switched its online sports betting operator partnership from PointsBet to Fanatics.