Pennyslvania Sportsbooks Report Higher Betting Handle in September

In the latest report from the Pennsylvania Gaming Control Board, Pennsylvania sportsbooks are reporting a higher betting handle in September. The total betting handle for the month sits at $726.3 million, giving us a whopping 85% month-on-month increase. The year-on-year handle increase for the same period also gives is a 13% increase, meaning that the market continues to grow.

As a bookie, you will need to learn the monthly statistics of your sportsbook as well. This can help you identify your earnings, and also tell you how you compare to other similar betting markets. Using a good sportsbook pay per head service makes this easy, since you can generate a report with just a few clicks. When you create a report, you will want to see the handle, your hold, and of course, your revenue.

Because while you can see a rise in betting activity, revenue will not always follow, like what we are seeing in Pennsylvania this month.

Pennsylvania Sportsbooks Report Good Handle, But Have High Expenses

Despite the jump in handle, profits drop to just $36.6 million, which is 27% lower year-over-year. The hold is also a sad 5%. The reason why we are seeing such low numbers is because sportsbooks offered a lot of promotions for the month.

When you are learning how bookie make money, promotions and bonuses are the first things experts will teach you. It is the most direct and effective way to generate handle and new business. However, it is an expense that may pay off instantly, or in the long run.

Let us look at Pennsylvania’s numbers here. The gross revenue is actually at $66.1 million, with a hold of 9.1%. But since sportsbooks tend to invest in promotions to help generate more business for the football season, they spent almost $30 million. This cuts into the profits, which is why revenue and hold are down for the month. But even then, revenue is still 66% higher than the previous month. So the investment that they made with promos worked. This practice is something you can easily do with your sportsbook, thanks to the best PPH Bookie software.

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