Clicky

Pennsylvania's Sports Betting Revenue Rises in Second Month - PennsylvaniaCasinos.com News : PennsylvaniaCasinos.com News
Published on
Update on

Its been close to two months since the sports betting industry in the Keystone State was launched and since then it has seen a plethora of positive developments. The number of bookmakers continues to grow and the revenue from operational sports betting operations has been quite impressive so far. For instance, in January, the number of venues offering sports betting in the state doubled and so did the amount of money that the was wagered on various sporting activities.

According to figures released last Friday, the six fledging sportsbooks in the Keystone State accumulated and aggregated revenue of $2.6 million and contributed a whopping $938,597 in tax revenue. This pooled revenue tally for the last month represented a 30 percent month-on-month increase. According to the Pennsylvania Gaming Control Board, the handle was also over 97 percent better off.

The Details

As it turns out, the Pennsylvania Gaming Control Board found that the gamblers in the state wagered $32 million at the venues that’s had approved for sports betting and one off-track betting parlor over the month of January. At the top of the list was Philadelphia-based SugarHouse Casino which managed to accumulate $10.8 million in bets and it was followed by Pittsburgh-based Rivers Casino which recorded receiving bets worth $9.5 million. Out of the mentioned amounts, both casinos made a combined $2.6 million with about $940,000 being channeled towards taxes.

Parx Casino’s satellite location, the South Philadelphia Turf Club and Harrahs, which went live in mid-January handled less than 1 million in bets. While the revenue report did not break down the bets made at each venue by sport, it was confirmed that the state sportsbooks had an average over a little more than 8 percent – this can be easily contrasted with the 12.5 percent on a handle of $16 million that was recorded in December.

The Pennsylvanian sports betting industry continues to grow and players can expect even more sports betting action once Presque Isle Downs in Erie and the Philadelphia-based Valley Forge Casino finally go live with their sports betting offerings. The launch dates of the two new sports betting casino projects are yet to be announced but they are expected to be operational in the next few months, at most.

Mobile Betting

While the numbers that have been posted by the state’s gaming regulator can be considered to be quite strong, they would have been significantly better had mobile sports betting been thrown into the mix. The state does intend to launch mobile sports betting offerings in the near future but for now, the major focus is on bringing the brick and mortar sports betting business as close to perfection as possible.

Latest Headlines

Pa. Poker Rooms to Remain Closed When Casinos Reopen

The pressure to reopen the economy of the United States continues to mount. Already, several states including the Keystone State are drafting plans to reopen with the responsibility of seeing this through delegated to special authorities. In the case of Pennsylvania, the state gaming control board has recently laid out measures and guidelines that the […]

The Changing Face of Gambling Across the United States

It has been quite the ride since the coronavirus pandemic began wreaking havoc on the global economy. Over two months later and the United States, just like many other countries, is still struggling to deal with the issue. However, there is a lot of pressure to reopen the economy, and, as expected, this is raising […]

Pa.’s Great iGaming Performance Not Enough to Save Overall Gambling Revenue

Earlier this week, the Pennsylvania Gaming Control Board (PGCB) released the April revenue figures for the state’s gambling industry. As expected, the downtown that began on the onset of the coronavirus pandemic has continued to wreak havoc on the sector. Most of the state’s land-based casinos have had to remain closed as part of statewide […]

PokerStars Pa. Runs State’s Biggest Online Poker Tournament

Despite the ravaging impacts of the coronavirus pandemic, the world of online gambling has been finding ways to keep the fire burning. In Pennsylvania, the land-based gaming facilities have remained closed for a while but the online gambling operators have been hard at work striving to satisfy their growing customer bases. Hopefully, things return to […]

Rush Street Interactive Brings AGS Slots to Pennsylvania

Slots lovers in the Keystone State are in for some great news thanks to the addition of some new fun and exciting slot titles to two of the state’s online casinos. This is all thanks to the recent partnership between renowned gaming solutions developer AGS and Rush Street Interactive. The latter currently runs BetRivers.com and […]

Similar Stories in Gambling

Pa. Poker Rooms to Remain Closed When Casinos Reopen

The pressure to reopen the economy of the United States continues to mount. Already, several states including the Keystone State are drafting plans to reopen with the responsibility of seeing this through delegated to special authorities. In the case of Pennsylvania, the state gaming control board has recently laid out measures and guidelines that the […]

Pa.’s Great iGaming Performance Not Enough to Save Overall Gambling Revenue

Earlier this week, the Pennsylvania Gaming Control Board (PGCB) released the April revenue figures for the state’s gambling industry. As expected, the downtown that began on the onset of the coronavirus pandemic has continued to wreak havoc on the sector. Most of the state’s land-based casinos have had to remain closed as part of statewide […]

Penn National Records Revenue Drop in The First Quarter of 2020

Penn National Gaming Incorporated, one of the country’s biggest gaming brands, has been having a bit of a tough time navigating its business over the past few months. Just like many other businesses across the state, the casino operator has had to close down key parts of its operations as part of nationwide directives to […]

Wind Creek Bethlehem Eyes Pennsylvania’s Retail Sports Betting Market

Sports betting remains to be one of the most lucrative markets for gaming operators in the United States. Despite the cancellation and suspension of several sporting activities, some gaming operators are still very optimistic about the sector. One of the Keystone State-based gaming companies that still has its sights set on the sports betting scene […]