Record Gaming Revenue In Pennsylvania after Online Gambling and Sports Betting Legalization

Record Gaming Revenue In Pennsylvania after Online Gambling and Sports Betting Legalization

With the global process of continuous and unceasing growth of the online gambling industry many American states have legalized online gambling and sports betting in their area.

Pennsylvania has also finished the procedure of legalizing and regulating its market. The online and sports betting market in this state is rapidly expanding and generating massive revenue.

The positive effect from the legalization of its online gambling market is dual: from one hand it has been beneficial for players, but also Pennsylvania hit record gambling revenue of 3 billion.

The 2018/19 fiscal year in Pennsylvania recorded a huge gaming revenue. It received a drastic boost by additional income from regulated sports wagering. The gambling revenue in the state reached the  record $3.3 billion.

In 2018 the American states obtained the authority from The US Supreme Court to decide whether or not they want to legalize sports betting activity in their areas. As many other states did  Pennsylvania took also advantage of this important decision. For a year after the legalization of gaming activity in Pennsylvania there is a 1.84% increase on the $3.25 billion posted in the corresponding period for the last year.

The state collected a total of $1.39 billion in gambling taxes. This is up $1.3 billion from the previous year.

Figures show slots as a main source of income for licensed best online casinos in Pennsylvania The revenue amounts to $2.37 billion. Table games come after with a revenue of $885.6 million. This is a small decrease of 1.08% compared with the previous year.

Sports betting was legally launched in the state in November, 2018. For a year the activity has generated $21.7 million in revenue. Fantasy Sports brought in a revenue of $23.6 million. This is an increase of 56.4% from the $1 million it generated in revenue the previous year.

Pennsylvania has just welcomed the virtual gambling activities making them legal and during the very first year has enjoyed much higher revenue than expected. If they manage to take advantage of the wide range of possibilities and opportunity for growth and expansion the state will notice a much bigger rise in revenue for the years ahead.