The online sports betting switch will soon be flipped on in the state of Pennsylvania, so we can expect monster numbers right out of the gate, right?
Hindering instant growth with online numbers is that we are about to end the dead zone when it comes to sports betting. By mid-June the NFL, NBA and NHL will all be in their off-seasons, and people will be spending less and less time in front of their TVs.
New Jersey was in a similar spot last July and August to where Pennsylvania is now in terms of online’s infancy and time of year. Here were New Jersey’s numbers in those months.
$3.8 million revenue
$40.6 million handle
$9.2 million revenue
$95.6 million handle
The jump from August to September was key in New Jersey as they had an influx of new sportsbooks coming on the scene altogether and the brightest of green lights to go ahead with online betting. Adding to the perfect storm at that point was the return of college and NFL football, by far the most bet-on sports in the United States. Here were the figures from New Jersey in September:
$23.9 million revenue
$183.9 million handle
As you can see that’s quite the increase, a whopping $161 percent jump in gross revenue and a 92 percent increase in handle.
We will see a spike in Pennsylvania when online is finally good to go, for sure, but without the help of football season it might not be as overwhelming as some expect initally.
At the very least, the few months before the start of football will allow everyone involved to work the kinks out.