Gambling in the USA
PlayPennsylvania.com: Sportsbooks, online casinos post near-record September
Pennsylvania’s online and retail sportsbooks celebrated the third anniversary of legal sports betting in the state by handling more wagers in October than any other month. The record $776 million in sports bets also pushed the state’s lifetime handle to more than $10 billion, this as Pennsylvania’s ever-expanding online gambling industry set another revenue record and joined New Jersey as the only states to produce $1 billion in revenue over a calendar year, according to PlayPennsylvania, which tracks regulated online gaming and sports betting in the state.
“The convergence of all that betting inventory, particularly with five weekends of football, made a record in October all but assured,” said Katie Kohler, analyst for PlayPennsylvania.com. “Such a big leap in October shows that Pennsylvania still has an increasing base of bettors, and those bettors are placing more in wagers as they become increasingly comfortable with in-game and proposition betting.”
Spurred by five full weekends of football, and boosted with postseason baseball and the opening of the NHL and NBA seasons, bettors poured $776.3 million in wagers into Pennsylvania’s online and retail sportsbooks in October, according to official data released Tuesday. That was up 47.6% from $525.8 million in October 2020 and up 34.1% from $578.8 million in September. Only New Jersey and Nevada have ever produced more in bets over a single month.
Operators generated $42.3 million in gross revenue in October, down 11.6% from $47.8 million in October 2020 and down 12.1% from $48.1 million in September. October’s revenue was well short of the record $49.3 million in revenue generated in January. In the end, sportsbooks produced $23.5 million in taxable revenue after $18.7 million in promotional spending, which yielded $8.4 million in state taxes and local share assessments.
The state’s first retail sportsbooks launched in November 2018, generating $508,997 in gross revenue on just $1.4 million in bets. Since, sportsbooks have generated:
- $10.1 billion in wagers, $5.04 billion of which has come in 2021
- $766.8 million in gross revenue, including $382.6 million so far this year
- $232.9 million in promotional spending, or “free bets”
- $192.2 million in state taxes, including $92.7 million in 2021
“Three years in, and the state’s sportsbooks continue to expand,” said Dustin Gouker, analyst for the PlayUSA.com Network, which includes PlayPennsylvania.com. “Remarkably, about half of all wagers and revenue have come through sportsbooks in the last 10 months. Pennsylvania clearly has room to grow before it reaches its ceiling.”
$714.1 million of October’s wagers came through online sportsbooks, representing 92.0% of the state’s handle. FanDuel claimed 37.9% of the online market with $270.8 million in wagering, up from $183.7 million in September. Revenue fell to $19.3 million in October from $21.2 million in September.
DraftKings was second in the state with $201.7 million in wagers, representing 28.2% of the online market. Those bets yielded $9.6 million in gross revenue. Penn National’s Barstool-branded app was third in October with $71.5 million in wagers, which yielded $118,849 in gross revenue. BetMGM was fourth with a $65.9 million handle, producing $4.3 million in gross revenue.
Retail sportsbooks accounted for the remaining $62.2 million in wagers in October, up 16.2% from $53.5 million in October 2020 and up 21.2% from $51.3 million in September. Those wagers created $5.05 million in gross revenue, down from $7.2 million in September. Rivers Pittsburgh led retailers with $9.3 million in bets, topping Rivers Philadelphia’s $9.1 million handle.
“Online sportsbooks in particular benefit from NFL regular season games, which offer hundreds of options for in-game betting in addition to more conventional bets,” Kohler said. “Props and in-game betting are now a cornerstone for growth.”
Online casinos and poker
Online casinos and poker rooms shattered the state record with $117.04 million in gross gaming revenue, pushing annual revenue to a record $1.05 billion through 10 months of 2021. New Jersey and Pennsylvania both reached $1 billion in annual online casino revenue in October, the first states to reach the milestones.
Revenue was up 58.8% from $73.7 million in October 2020 and up 4.7% from $111.8 million in September. The previous revenue record was $113.8 million, set in May.
Wagering at online casinos hit $4.1 billion in October, up from $3.5 billion in September. The win produced $102.9 million in taxable revenue, generating $43.3 million in state and local taxes.
“Online gambling continues to thrive, while the state has a consistent and significant revenue generator,” Gouker said. “Pennsylvania taxes its online gambling industry at a higher rate than any other open market in the U.S., and that decision made years ago by regulators has proven to be a valuable one for the state.”
Other highlights from October:
- Online casino and poker rooms generated $3.8 million in gross gaming revenue per day over the 31 days of October, up from $3.7 million per day in September.
- Penn National, which includes the DraftKings, BetMGM, Barstool, and Hollywood casinos, topped the market with $44.4 million in gross revenue. Rivers Philadelphia, which includes SugarHouse, Borgata, and BetRivers casinos, was second with $31.0 million.
- Poker generated $2.9 million in revenue. Mount Airy/PokerStars topped operators with $1.9 million in revenue.
Gambling in the USA
Zula Casino Kicks Off its Spectacular 1-Year “Zula-versary” with a Month of Events and Promotions
Zula Casino launched its online social casino in the US exactly a year ago delivering more. More games. More rewards. More free-to-play entertainment through a personalized experience. Zula Casino marked its one-year launch by crossing the 1000 casino-game threshold – a milestone that positions it among the top platforms nationwide.
The month-long birthday bash intends to go over the top to give back to its amazing player community that helped make this first year so incredible. With its advent calendar format, players can unlock a special surprise each day ranging from a “Win-a-Vacation” event, a carnival event, free spins and new exclusive games, and a prize pool of over 25 billion Gold Coins (GC) plus 150,000 Sweeps Coins (SC) to be given out throughout the month. Over this period, Zula Casino will run other special events, including surprise happy hours with special coupons, various social media contests, and special giveaways.
“We’re incredibly proud of the player experience we’ve built over the last 12 months. The platform has garnered a substantial and loyal pool of players, and it’s not just because we offer one of the largest game selections from leading global providers, but also the exclusive experiences we’re providing, and the platform’s continued evolution with enhanced promotions, personalization, and seamless user experience,” said Tamar Laypan, Program Manager of Zula Casino.
Zula Casino has added over 1000 games across all categories over the past 12 months, including slots, jackpots, fish, table, plinko, megaways, crash, hold and win, tumble games, and more. These additions include top games like Big Bass Vegas and Fire Stampede, as well as branded exclusives like Gold Gold Gold 5000, supplied by Booming Games, and Sweet Bonanza 1000 by Pragmatic Play. With recent additions, Zula Casino now boasts 25 game providers, including Relax Gaming, Habanero, Evoplay, Pragmatic Play, RubyPlay, Gamzix, Let Us Entertain You Inc., to name a few.
Zula Casino flourished in a tough and highly competitive market, launching its proprietary-integrated platform in September of last year. With an average TrustPilot score of 4.6 and almost 9K reviews, the online social casino is among the highest-rated free-to-play sites in the market.
Zula Casino was also previously shortlisted for the prestigious Global SBC Awards in the category of “Rising Star in Casino”.
NCPG has announced the appointment of Diana Goode to the National Council on Problem Gambling’s Board of Directors. Diana, who has served as the Executive Director of the Connecticut Council on Problem Gambling (CCPG) since May 2018, brings over 25 years of nonprofit leadership experience to this role.
In her time with CCPG, Diana has championed initiatives that address problem gambling and promote responsible gaming across Connecticut. Additionally, she has played an active role on the NCPG Affiliates Committee, contributing valuable insights from her years of experience.
Before joining CCPG, Diana held executive roles in nonprofits focusing on poverty alleviation and financial literacy in Connecticut. Her academic credentials include a degree from Dartmouth College and an MBA in Finance and Marketing from the University of Connecticut. She resides in the Greater Hartford area, where she remains deeply engaged in her community.
Diana will serve an interim appointment in the Affiliates seat on the NCPG Board of Directors until Spring 2025.
Gambling in the USA
Gaming Executives Positive on Current Business Conditions, Cautious on Future Growth Expectations
Overall Balance Sheet Health, Access to Credit Continue to Improve
In the face of slowing revenue expansion, gaming industry leaders continue to hold an overall positive view of the current business situation, with a notable improvement in credit conditions, according to the latest American Gaming Association (AGA) Gaming Industry Outlook.
The majority of respondents (88%) view the current state of the gaming industry as either good or satisfactory. Meanwhile, executives have a more conservative outlook on future business conditions, with respondents split on whether they expect conditions to improve over the next three-to-six months (3% net positive) and many expecting a decrease in customer activity (28% net negative).
“After years of very strong consumer gaming spending growth, expectations around customer activity over the next three to six months have cooled considerably,” said AGA Vice President of Research David Forman. “Still, gaming businesses remain well positioned, with executives touting strong balance sheets and more viewing access to credit as easy than restrictive for the first time in two years.”
Gaming Executive Panel
Since Q1, gaming executives’ sentiment has shifted, with a greater number of respondents now expecting a decline in customer activity over the next three to six months (28% net negative, up from 4% net negative in Q1). Despite this, panelists foresee improvements in overall balance sheet health (34% net positive).
Additionally, more executives reported access to credit as easy (19%) rather than restrictive (3%) for the first time in two years, and fewer cite interest rates as a major limiting factor than in the spring.
Hotel (56%) and food and beverage facilities (56%) continue to be the main and growing focus of capital investment among operators, followed by live entertainment (28%) and casino floor slots (22%).
Meanwhile, gaming equipment suppliers now believe their pace of capital investment and game sales will decelerate (13% net negative).
These expectations are impacted by evolving macroeconomic challenges, with uncertainty of the economic environment vaulting to the top of executive concerns (56%, up from 34% in Q1), followed by state regulatory concerns (31%), and inflationary or interest rate concerns and geopolitical risk (both 34%).
The Current Conditions Index
The Current Conditions Index for Q3 2024 was 97.3, which is consistent with real annualized contraction of 2.7 percent. The Current Conditions Index measures real economic activity in the industry, as measured by gaming revenue, employment and employee wages and salaries.
The Future Conditions Index
The Future Conditions Index, a leading indicator of changes in industry conditions, measured 98.9 in Q3. This indicates an environment in which real economic activity in the gaming sector, after controlling for underlying inflation, is expected to moderately decrease over the next six months (1.1% annualized rate).
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