Press Releases
Pennsylvania Sportsbooks Hit Record $365 Million In Bets, Putting Nevada In Sight, According to PlayPennsylvania
Pennsylvania sportsbooks enjoyed their best month since the state launched the legal sports industry in November 2018 as the return of major sports helped unleash a wave of pent-up demand. Pennsylvania’s record $365 million handle could make it the No. 2 legal sports betting market in the country, according to PlayPennsylvania.
“In what has been a difficult year, August’s packed schedule of major sports helped Pennsylvania sportsbooks make up some of what was lost from pandemic-related shutdowns,” said Dustin Gouker, lead analyst for PlayPennsylvania.com. “It is remarkable to think that Pennsylvania could surpass Nevada, the nation’s most mature sports-betting market. The state’s online products have helped bridge a gap that at one point looked nearly insurmountable.”
Retail and online sportsbooks generated $364.99 million in wagers in August, up 121.5% from $164.8 million in July and up 234.7% from $109 million in August 2019, according to official data released Wednesday.
The growth in revenue was impressive, too. August’s handle produced $18.3 million in taxable revenue, up 124.3% from $8.1 million in July and up 198.8% from $6.1 million in August 2019. August’s revenue produced $6.2 million in state taxes.
Pennsylvania fell shy of Nevada’s $165.6 million handle in July, but its record-breaking August could top the Silver State â which will announce August data later this month.
“The continuing build-up of online and mobile sports betting, in addition to online casinos and poker rooms, is paying enormous dividends,” Gouker said. “Some gamblers appear to still be reluctant to visit casinos in person, and technology is bridging that gap.”
Online wagering accounted for 88.1%, or $321.6 million, of all bets in August. FanDuel Sportsbook at Valley Forge Casino was again the primary driver by accepting $144.6 million in online bets, a 110.3% gain from $68.8 million wagered in July. Those bets produced $8.9 million in taxable revenue, up 518.6% from $1.4 million in July.
The retail sector picked up steam in August with $43.4 million in bets, up from $9.4 million in July, to produce $2.8 million in revenue. Rivers-Philadelphia led retail books with $11.8 million in bets and $949,903 in gross revenue.
The online market could get another boost, too, with the kickoff of football and the launch of the Barstool Sportsbook App.
“Barstool is the most intriguing launch since FanDuel and DraftKings entered the market, and could really move the needle,” said Valerie Cross, analyst for PlayPennsylvania.com. “It’s difficult to capitalize on such a busy sports schedule if bettors are limited in their online choices. The state’s gaming industry still has significant challenges, but its ability to entice so many online competitors has made the Pennsylvania market far more resilient.”
Online gambling
Online casino games and poker reached another all-time high in August with $55.9 million in gross operator revenue, or $1.8 million for the 31 days of August. That is up from July, when online gambling generated $54.4 million. All of August’s operator revenue resulted in a $15.8 million injection into state coffers and another $6.3 million in local share assessments.
“The continued growth of online casino revenue, even with opened retail casinos, shows that the industry has set a new standard for online gambling,” Cross said. “The popularity of these games should remain, and likely expand, over the next few months even as casinos steady.”
For more, www.playpennsylvania.com/news.
About the PlayUSA.com Network:
The PlayUSA.com Network and its state-focused branches is a leading source for news, analysis, and research related to the market for regulated online gaming in the U.S.
SOURCE PlayPennsylvania
Gambling in the USA
Spin Your Way to Political Fun in Slotland and WinADayâs Race for Office MegaMatrix Slot
The drama of the 2024 U.S. elections is here, and players can take advantage of extra bonuses to play Race for Office, Game of the Month.
Slotland and WinADay are bringing the excitement of the U.S. presidential election to life this month with the fan-favourite, Race for Office, packed with a wealth of bonuses.
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View a video version of this story
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Latest News
Panel on the benefits of regulation in the Mexican iGaming market
On November 6, the iGaming industry in Mexico is preparing for a key event in which the benefits and challenges that regulation has brought to the Mexican market will be discussed. Under the title “Benefits of Regulation in the Mexican Market”, this panel will offer an in-depth look at the impact of regulation on transparency, competition and consumer protection, critical issues in the new digital era of iGaming.
The event, moderated by Geraldine Alexandra GarcĂa Torres, Media Manager of Digital Gaming News, will feature the participation of recognized figures in the sector such as Daniel Magariños, representative of BMM Testlabs, and Hermilo Peregrina Cabrera of Prometeo IT Solutions. Both panelists will contribute their extensive knowledge and experience in regulation and certification in the Mexican market, and will analyze with the public the challenges and opportunities that companies face in an increasingly competitive and regulated context.
BMM Testlabs, who will participate as a Gold Sponsor, underlines with its sponsorship the importance of regulation to strengthen the iGaming sector in Mexico and demonstrates its commitment to progress and transparency in the Mexican market. For its part, Kushki joins as a Silver Sponsor, promoting the dialogue and analysis necessary for the industry.
Daniel Magariños, from BMM Testlabs, expressed his enthusiasm for participating in this digital webinar: âIt has been a pleasure to be able to share our comments as a Laboratory on a market like the Mexican one and exchange opinions with a reference like Hermilo and the company Prometeo IT Solutions, with its excellent track record in this market. A relaxed talk with a lot of learning that I hope will be interesting for the attendees.â
For his part, Hermilo Peregrina, from Prometeo IT Solutions, highlighted the relevance of these spaces for dialogue: âThank you to Conferencias iGaming for the invitation to participate in this panel. Thanks to Geraldine for coordinating us, and it was a pleasure to share ideas and opinions with my friend Daniel from BMM Testlabs, who has extensive experience in international regulations and certifications.â
Sponsor Support
The panel has the support of important sponsors who recognize the relevance of regulation in the development of the iGaming market in Mexico. Among them, BMM Testlabs as Gold Sponsor, and Kushki as Silver Sponsor.
Event Details:
Date: November 6
Time: 10:00 a.m. (Mexico)
Registration: Register here
Don’t miss the opportunity to be part of this essential conversation for the future of the industry. Secure your place and access a key analysis on the dynamic iGaming market in Mexico!
Latest News
Paige Spiranac Expands SportsGridâs Content Portfolio with Exclusive Sports and Casino-Themed Shows
SportsGrid, the leading free ad supported television network in the sports genre, proudly announces a multi-year partnership with former professional golfer and social mediaâs most followed golf personality and social media sensation Paige Spiranac. Under this agreement, Spiranac will lead exclusive original casino-themed programming, marking a significant expansion in SportsGridâs content offerings.
As one of the most recognizable influencers in the world of sports and entertainment, Spiranac brings her signature charisma, deep sports knowledge, and passion for gaming to the new role. She will team with Emmy Award-Winning Executive Producer and EVP of Programming and Development, Scott Lasky, and headline a series of shows featuring engaging sports and casino content, offering fans an unparalleled mix of strategy, insight, and entertainment.
âWe are thrilled to welcome Paige Spiranac to the SportsGrid family,â said Jeremy Stein Co-Founder and CEO of SportsGrid. âHer dynamic personality, love for gaming, and connection with sports fans perfectly align with our mission to deliver unique and captivating content. Paigeâs presence in our casino programming is a game-changer, and we look forward to seeing her elevate our viewersâ experience as we pioneer this new category.â
The programming will be available across SportsGridâs platforms, providing fans with 24/7 access to engaging and informative content that blends entertainment with Spiranacâs signature charm and insight.
âIâm thrilled to join SportsGrid and dive into the world of sports gaming with a network thatâs truly pushing boundaries in sports and casino entertainment,â said Spiranac. âCreating unique, interactive content for fans who share my passion for gaming is something Iâm incredibly excited about. Together with SportsGrid, I look forward to bringing a fresh perspective and delivering the fun, engaging experiences that fans expect and deserve.â
The partnership further solidifies SportsGridâs position as the leading media platform in the sports wagering and gaming space. With the addition of Spiranacâs unique style and undeniable star power, SportsGrid continues to innovate and set new standards of whatâs possible in digital sports entertainment.
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