October’s sports wagering revenue results revealed impressive performances across several high-profile jurisdictions. Louisiana and Pennsylvania stand out, setting new benchmarks amidst significant growth in their respective markets. Such detailed results remain integral to understanding emerging industry trends, allowing stakeholders to adjust their strategies and keep players engaged.
Pennsylvania Remains a Thriving Market
Pennsylvania reported an astounding $829.0 million sports betting handle in October, surpassing last month’s high by 4.0%. This milestone propelled sports betting revenue to $48.2 million, an 18.8% year-on-year increase. Online wagering performed spectacularly, contributing $43.1 million to the overall revenue, while retail betting accounted for $5.1 million.
Hollywood Casino at the Meadows and Barstool emerged as market frontrunners, generating $18.9 million in revenue from $258.3 million in bets. Valley Forge and FanDuel, which led in September, lagged slightly behind with $18.2 million in revenue despite a higher handle of $328.4 million. Rivers Casino Pittsburgh and BetRivers secured the third position, earning $2.3 million from $33.5 million in total wagers.
In addition to sports betting, Pennsylvania’s total gambling revenue reached $483.0 million, a 7.3% increase from the previous year. While retail slots accounted for nearly 40.0% of the gambling revenue at $192.5 million, land-based table games also experienced a 2.0% year-on-year increase, reaching $81.5 million.
Louisiana Retains Significant Growth Potential
Meanwhile, Louisiana witnessed an outstanding surge in sports betting activities, reporting a record-breaking $308.6 million in sports wagering during October. This figure marked a 20.8% increase from the previous year, exceeding the state’s prior January 2023 record. Revenues also soared to an all-time high of $43.3 million, a remarkable 63.5% year-on-year surge.
Louisiana sports wagering online gross revenue amounted to $40.1 million, while retail sportsbooks contributed $3.3 million. Football betting traditionally led the way, generating $7.3 million from online betting and $249,242 from retail. Baseball also proved popular, contributing $3.3 million in retail revenue and $437,224 in online revenue.
These results demonstrate Louisiana’s robust and growing market, showcasing the increasing interest and participation in sports wagering. Although the Pelican State does not yet offer regulated online gambling, sports betting’s impressive performance proves that taking the next logical step could create a thriving new industry. Even without iGaming, Louisiana represents significant potential as it remains on a promising trajectory for future growth.