The Pennsylvanian online gambling sector just recently went live and it is already performing very well. According to revenue figures that were recently released by the Pennsylvania Gaming Control Board (PGCB), three of the state’s online gambling sites managed to perform their online sports betting counterparts in August 2019.
While online gambling verticals are certainly on the rise both in terms of revenue and popularity, it is important to note that the retail gambling sector was still able to hold its own amid the increased competitions. It seems that everything could balance out in the end with each gaming vertical being able to keep a sizeable portion of the market.
Great Casino Performance
Parx, SugarHouse and Hollywood casinos are the three gaming operators that have recently launched online gambling options with their online gambling sites racking up a combined $3.43 million in gaming revenue in their first full month of operation.
SugarHouse Casino contributed the highest amount, that is, $1.65 million while Parx and Hollywood Casino contributed $1.1 million and $684K respectively. The sum that was generated in August 2019 is 4 times the sum that was generated in the previous month, proof that the online gaming industry is well on its way to the top.
As for the specifics, online slots accounted for $2.5 million of the total revenue with a whopping $1.36 million going to the state in the form of tax revenue. Online table games, on the other hand, racked up $903K in gaming revenue and 16 percent of this amount went to the state.
For now, online poker is nowhere to be found but there are plans to have such products available to Pennsylvanian online gamers in the near future. No definite launch dates have been announced which means that all we can do now is to sit and wait. Even so, the operators have some huge plans for the online poker industry and players can expect a lot of great offerings when they get the green light to offer online poker.
Sports Betting Still on the Rise
The Keystone State booked a whopping $109 million in sports wagers last month, which was also the highest monthly revenue figure recorded to date. In comparison, $59 million was wagered in July which means that the August revenue figured was almost double the amount wagered in July. From this, the sportsbooks earned a total of $9.9 million in revenue up from the $5.1 million they earned in the previous month.
Mobile betting services were the most popular in August and they contribute significantly to the impressive revenue figures mentioned above – over 75 percent of the sports bets in Pennsylvania were placed on mobile devices. Moreover, most of these bets were placed with FanDuel which is now, without a doubt, the unchallenged leader of the Pennsylvania online sports betting market. The online bookmaker is well on its way to replicate the massive success that it had in the New Jersey market.