The Keystone State is well-known for several things, including its large Amish population and its role as an important US industrial hub. But it’s also one of the few places in the United States where people can legally gamble online for real money, making it one of the most casino-friendly regions in North America.
The Pennsylvania Gaming Control Board, which oversees the state’s casino industry, estimates that the industry as a whole in January 2022 generated $393 million higher in revenue than in January 2021. In addition, the state reached a new iGaming income benchmark, which is an incredible 476% rise compared to the amount in January 2020.
In 2017, Pennsylvania passed the Expanded Gaming Act, which authorized internet-based card and dice games, poker, and slot machines. While online poker saw a “modest” growth of 28.6%, the former were the states’ highest-earning online productS, increasing sales by 380% (to $26.7 million) compared to the January 2020 data.
How Successful Were Particular Online Vendors?
There are now just a small number of companies in Pennsylvania selling interactive gaming devices to locals. In terms of revenue in January 2021, the Hollywood Casino owned by Penn National led the pack with $27.6 billion. With several online guises, the company has amassed almost $16.2 million from online slot machine play, with the balance coming from traditional table games.
The Rivers Casino in Philadelphia came in second. That $21 million in income was generated by Rush Street Interactive, a division of a prominent land-based business. More than half ($11.4 million) of the internet revenue this company generated came from Pennsylvania residents who were looking for a location to play online slots.
The Valley Forge Casino’s online FanDuel offering generated $14.7 million. It’s the only business in the state where table games generated more revenue than slot machines did ($8 million versus $5.7 million, respectively).
Slot machines, the most popular form of gambling in casinos, and the source of the most revenue ($140 million), saw a 26% year-over-year decline in revenue.
Was January 2022 a good month for sports betting?
Compared to December 2021, sports betting was really marginally down, but compared to December 2017 it was up 48.7%! Online wagers accounted for over $30 million of the total $34 million recorded. Nearly half ($14.5 million) of the state’s sports betting revenue came from the FanDuel sportsbook, which is also operated by the Valley Forge Casino. With $223 million in wagers, it beat out DraftKings Sportsbook at The Meadows Casino, which took home $7.7 million on $145 million in wagers.
The Parx Casino ($1.8 m) and the Barstool Sportsbook at the Hollywood Casino ($1.1 m) are two more Pennsylvania sports betting providers that made over $1 m in January 2022.
In comparison to 2020, the Parx Casino’s revenue bottom line has increased by roughly $49.5 million.
To Sum Up
It’s hardly a big surprise that money made through online gambling in Pennsylvania is on the upswing. Actually, that’s a pattern observed all around the country. For instance, in 2021, total earnings from New Jersey’s internet casinos were just over $1.4 billion, up over 41% from the previous year.
All states that permit online casino games report record-breaking figures pretty much every month, with the Michigan market generating $1.1 billion in interactive gaming revenues in its first year of operation. This suggests that monthly gaming stats in Pennsylvania will continue their increasing trend.