The Keystone State hit a new record last year since online gambling was first legalized by the state back in 2017. In 2022, the revenue from online gambling in Pennsylvania reached a staggering $5.2 billion.
The rise of the gaming sector in the state is nothing short of impressive. And it’s all down to the success of both sports betting and online casinos that have taken PA by storm, which really began to see a heavy rise in online players during the pandemic-induced lockdowns.
Although the memories of the pandemic and subsequent lockdowns may finally be fading, their immediate effect on the gaming industry continues to have a positive impact on both players and the overall market.
Sports betting Vs Casinos
There are currently 14 online sportsbooks in Pennsylvania and 18 online casinos to choose from. But, which brings in more revenue: sports betting or casinos in PA?
In July 2023, it was reported that casinos generated $5.51 billion in revenue in Pennsylvania in the 2022-2023 fiscal year, while sports betting generated $491.9 million. This means that casinos generated more revenue than sports betting in the 2022-2023 fiscal year, and things are still on the up. Pennsylvania’s iGaming revenue in July 2023 was up 35%, with almost $95 million generated from online slots and over $35 million from table gaming.
Slot machines and table games generated more revenue than any other form of gambling in the United States in 2022. So, the trends in Pennsylvania can be seen as representative of the market overall, rather than being an anomaly.
So, although Pennsylvania is home to major teams with huge fanbases like the Steelers and the Eagles, it seems that fans aren’t betting on their local teams as much as they are placing bets at casino tables.
Reasons Behind The Trends
While there’s no doubting the popularity of sportsbooks, why is it that casinos bring in more money? Despite fantastic PA sports betting reviews, there are two main reasons: casinos offer a wider variety of games, and they are sometimes more accessible.
Casinos offer a plethora of games, including slots, table games, and video poker. This gives gamblers more options, which, of course, can lead to more spending. Sportsbooks, while brilliant for sports enthusiasts, only offer sports betting. On top of this, there are more casinos in Pennsylvania than there are sportsbooks. This naturally makes it a little easier for people to gamble at casinos, either in person or online. As such, it comes as no surprise that the casino industry is worth more in the state.
What’s The Future Of Sports Betting And Casinos In PA?
As the sports betting and casino industries continue to grow in Pennsylvania, they are expected to continue to create billions of dollars in revenue for the state.
As more and more people use their smartphones and tablets to access the internet, online and mobile betting will become increasingly popular. The simple reason for this is because it’s way more convenient and accessible than traditional in-person betting.
One concern for the state will likely be other states relaxing the rules when it comes to gambling. As more and more states begin to look towards legalizing sports betting, Pennsylvania will need to compete for gamblers’ business, as it’s possible that less people will travel to PA to gamble. This will likely lead to lower betting limits and more generous promotions, meaning some fantastic offers for customers.
