Sportsbooks handed out a Pennsylvania-record $29.5 million in promotional credits for the month. It drastically cut into revenue and the operators’ hold as profits fell to $36.6 million.
operators were in the giving mood in September, as sportsbooks handed out a Pennsylvania-record $29.5 million in promotional credits for the month. After promotions, though, the profits fell to $36.6 million, which is down 27% year-over-year, and the hold dropped to 5%.led to $21 million more in promotions handed out compared to August, but only $4 million more than September 2022.
The online and retail combined handle rose 85% month-over-month and 13% year-over-year while gross revenue was up 115% compared to August. Sportsbooks still saw profits rise 66% month-over-month after promotions. The operators’ earnings turned into $12.5 million in taxes for the state, which is up $5 million from August’s haul. made up 92.6% of the overall handle and all of the promotional credits. Mobile produced a hold of just over 9.1% while retail hit 8.5% of its $53.4 million. recorded the highest handle in Pennsylvania for September with wagers topping out at $253.3 million, up 88.4% month-over-month. Promotional credits jumped more than $7 million from August to $11.1 million in September.
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