Pennsylvania: One of the Top American States in Sports Wagering Profits
Pennsylvania sports betting has been a top performer since its launch in 2019. The state is considered a lucrative sports betting market in the US because its profits have been growing year to year. The sector offers a large pool of mobile sports betting sites to gamblers. In March 2022, PA sportsbooks topped $1 billion in gross revenue since its launch. The March report shows sports betting revenue was $1.014 billion.
Pennsylvania is the number 3 best-performing state in sports betting
As of January 2022, Pennsylvania sports betting ranked number 3 in the United States. The leading best-performing state was New Jersey which was closely followed by Nevada. From November 2018 to December 2021, gamblers in PA had wagered $10.9 billion on sports. The state allows both mobile and in-person sports betting. The state legalized sports betting within six months after the US Supreme Court ruled against the federal ban on sports betting in May 2018.
Pennsylvania sports betting growth driving revenue up
When visiting, one of the things to do in Pennsylvania is sports betting. In September 2022, sports betting revenue in the state increased by 77.75%. This caused a year-to-year gambling revenue jump of 7.9% in Pennsylvania. September’s handle for sportsbooks stood at $645.2 million, up 11.49% compared to September 2021 ($578.7 million). Total sports betting revenue by September 2022 hit $50.2 million against $28.2 million in 2021.
Why sports betting is performing well in Pennsylvania
For three years, sports betting in Pennsylvania have been growing year to year. The PA state government taxes sports betting and other online gambling products higher than other states in the US. Despite this, the sector is thriving more than many other states that have legalized sports wagering.
PA residents support the industry and engage a lot in sports wagering. Even visitors traveling to the state on a budget vacation spare some money for sports betting. The online casino sets aside a big advertising and promotional budget each year.
They have developed products that ensure gamblers access sports betting apps from any place within the state. The state is home to 14 sports betting apps which increases competition. This is healthy because the casinos offer many attractive bonuses and promotions, which attract more people into sports betting and thus attract more revenue.