Pennsylvania sees online gambling continue to thrive


Pennsylvania sports betting peaked in the middle of the state’s third anniversary of legal sports betting, as online casinos and poker rooms broke the state record with $ 117.04 million. gross gaming revenue dollars.

This pushed the state’s annual total to $ 1.05 billion in the first ten months of the year, joining New Jersey to pass the $ 1 billion mark in annual online casino revenue to in October.

Revenue for the month was up 58.8% from $ 73.7 million in October 2020 and 4.7% from $ 111.8 million in September. The previous record for revenue was $ 113.8 million, set in May.

Bets at online casinos reached $ 4.1 billion in October, up from $ 3.5 billion in September. The victory generated $ 102.9 million in taxable income, generating $ 43.3 million in state and local taxes.

“Online gambling continues to thrive, while the state has a consistent and significant revenue generator,” commented Dustin Gouker, Analyst for PlayUSA.

“Pennsylvania taxes its online gambling industry at a higher rate than any other open market in the United States, and this decision taken by regulators years ago has proven to be valuable to the state.”

Additionally, Keystone State’s $ 776 million sportsbook record, which coincided with the region’s third anniversary, has pushed lifetime management past $ 10 billion.

That monthly figure represents an increase of 47.6% from a record high of $ 525.8 million a year earlier, as well as 34.1% from September’s $ 578.8 million. Only New Jersey and Nevada produced more bets in a single month.

Operators in Pennsylvania generated gross revenue of $ 42.3 million in October, down 11.6% from $ 47.8 million in October 2020 and 12.1% from $ 48.1 million in September.

This figure is well below the record revenue of $ 49.3 million generated in January. Sports betting generated $ 23.5 million in taxable income, which generated $ 8.4 million in state taxes and local share valuations.

Since its launch in November 2018, sports betting has generated $ 10.1 billion in bets, $ 766.8 million in gross revenue and $ 192.2 million in state taxes.

$ 714.1 million in October bets came from online sports betting, with FanDuel in the lead after generating $ 270.8 million in bets, up from $ 183.7 million in September, with revenue falling to 19 , $ 3 million.

DraftKings was second in the state with $ 201.7 million in bets, generating $ 9.6 million in gross revenue, ahead of the Penn National Barstool-branded app with $ 71.5 million in bets.

Retail sports betting accounted for $ 62.2 million in bets in October, up 16.2% from $ 53.5 million in October 2020. This generated $ 5.05 million in gross revenue , Rivers Pittsburgh leading with $ 9.3 million in bets.

“Online sports betting in particular benefits from NFL regular season games, which offer hundreds of in-game betting options in addition to more conventional betting,” said Katie Kohler, Analyst for PlayPennsylvania. “Accessories and in-game betting are now the cornerstone of growth. “


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