The lake bottom is steeply sloped moving from the shoreline to the open waters and composed of an average 4 feet (1.2 m) of sediment.

The Scranton, Montrose and Binghamton Railroad, also known as the Northern Electric trolley line, built a branchline from Factoryville to Lake Winola which opened in May, 1908.

Following this, Northern Electric purchased 50 acres (0.20 km2) of lakefront property on which a dance pavilion and a small amusement park were built.

Summer visitors and residents could also take boat rides on the lake, operated by a small steamboat.

[1] Through time the dance pavilion, amusement park and steamboat rides were phased out leaving only a few foundations as reminders.