Pennsylvania kicked off 2022 having one of its most lucrative months yet for its online gambling industry, as records were hit by its sports betting and online casinos, according to PlayPennsylvania, which tracks the online games and sports betting regulated in the state.
Keystone State’s online and retail sportsbook took advantage of five football weekends in January to break the state’s monthly betting record, while online casinos also set a new revenue record during of the month.
According to official data, Pennsylvania sportsbooks generated $793.7 million in bets, up 29.0% year-over-year from $615.3 million in January 2021. January handle was up 5.8% from December’s $750.4 million, and it also broke the previous best of $776.3 million wagered in October 2021.
“Pennsylvania’s sports betting growth has lagged similarly sized states like Illinois, but growth has always remained consistent,” said Dustin Goukeranalyst for the PlayUSA.com Networkincluding PlayPennsylvania.com.
“Put simply, whether it’s sports betting or online casino gaming, more people are betting more often now than a year ago. And there’s little reason to believe that growth will will stop this year.
Sportsbooks in Keystone State earned $53.4 million in gross revenue in January from the handful of $793.7 million, an 8.3% year-over-year improvement (January 2021: $49.3 million dollars) and an increase of 17.9% compared to the previous month (December: 45.3 million dollars).
Operators closed the month with $32.2 million in taxable revenue after $21.2 million in promotional expenses, generating $11.6 million in state taxes and local share assessments.
Katie Kohleran analyst from PlayPennsylvania.com, said, “The NFL has done sports betting a big favor this year by adding a week of regular season games and expanding the playoffs, then playing remarkably close games that kept the bettors engaged from start to finish.
“With five full weekends of first-time NFL games in January, a full slate of NBA action, and the College Football National Championship, anything less than a betting record would have been a disappointment. “
Split online and retail, Pennsylvania’s online sports betting accounted for $737.4 million (92.9%) of the January handful. FanDuel led the online market with $273.3 million wagered (34.8%), generating $25.1 million in revenue, best in the state.
DraftKings followed ($197.6 million wagering, $8.4 million gross revenue), then BetMGM ($84.4 million management, $5.5 million gross revenue), then Penn National Bar Stool-branded app ($74.7 million in online betting, $3.4 million in gross revenue).
Keystone State’s retail sports betting generated $56.3 million in wagers in January (December: $57.1 million), generating $5.8 million in gross revenue (December: $2.8 million ). Pittsburgh Rivers led the market with a handful of $9.2 million, followed by Parx with $8.3 million.
Meanwhile, online casinos and poker rooms set a January gross gaming revenue record of $130.0 million, beating the previous December record of $127.6 million by 1.9%. . Revenue also increased 42.5% year-over-year (January 2021: $91.2 million), generating a record $108.3 million in taxable revenue, producing $44.6 million in taxes. State and local ratings.
Online casinos and poker rooms earned $4.2 million in gross gaming revenue per day for the 31 days of the month (December: $4.1 million per day). However, betting at online casinos fell to $4.1 billion ($4.3 billion in December).
Penn National, which includes the DraftKings, BetMGM, Barstool and Hollywood casinos, led all online casino operators in January with $51.2 million in gross revenue. Philadelphia Riversincluding Sugar House, Borgataand Bet Rivers casinos, followed with $33.5 million.
Poker recorded $3.4 million in revenue in the first month of 2022, with Mount Airy/PokerStars ahead of all other operators with $2.2 million in revenue.
Kohler added: “The popularity of online casinos has had a positive effect on online sports betting, especially with apps like DraftKings, BetMGM and Barstool having a strong presence in both. Essentially, online casino games are the tide that lifts all boats.