{"id":31713,"date":"2020-01-11T13:00:26","date_gmt":"2020-01-11T14:00:26","guid":{"rendered":"https:\/\/www.pokerscout.com\/?p=31713"},"modified":"2020-01-13T17:11:03","modified_gmt":"2020-01-13T17:11:03","slug":"after-a-banner-2019-how-big-could-pennsylvania-online-gambling-become","status":"publish","type":"post","link":"https:\/\/www.pokerscout.com\/after-a-banner-2019-how-big-could-pennsylvania-online-gambling-become\/","title":{"rendered":"After A Banner 2019, How Big Could Pennsylvania Online Gambling Become?"},"content":{"rendered":"

It feels like the awareness and legalization of online gambling<\/strong><\/a> did not exist until the repeal of PASPA\u00a0<\/strong>in 2018, which opened the door for state-sanctioned sports betting.<\/p>\n

Certainly, that is not the case. Prior to that historic decision by the\u00a0US Supreme Court<\/strong>, several states enacted legislation to launch (or even went as far as launching) regulated online gaming markets. That includes Pennsylvania<\/strong>.<\/p>\n

In\u00a02017<\/strong>, the Keystone State passed into law a gambling expansion package that allowed online casinos, online poker and online sports betting<\/strong>. It was not until well over a year later that any of the verticals rolled out.<\/p>\n

The lengthy waits have been well-documented, and so too have the drawbacks of such delays. Regardless, Pennsylvania stands as one of just three states\u00a0with all three regulated markets operational<\/strong>.<\/p>\n

And despite prolonged holdups, PA online gambling appears well on its way to a bright future. The Keystone State could get their faster, though, by addressing several issues while continuing to perpetuate its assets.<\/p>\n

The good of Pennsylvania online gambling<\/span><\/h2>\n

PA sports betting off to strong start<\/span><\/h3>\n

Start with the obvious: Pennsylvania sports betting<\/a> has boomed.<\/p>\n

In its first year, legalized wagering in the state generated more than\u00a0$1.1 billion in bets<\/strong>. And despite facing a sky-high tax rate of 36%<\/strong>, operators pocketed nearly\u00a0$75 million<\/strong> in revenue.<\/p>\n

Overall handle has increased in each month since April, a credit not only to thriving competition but also to the advent and swift takeover of betting apps. (Online wagers account for better than\u00a080%<\/strong> of overall bets placed in Pennsylvania.)<\/p>\n

Of course, football season helped: Each month between August\u00a0<\/strong>and\u00a0November\u00a0<\/strong>featured handle totals exceeding\u00a0$100 million<\/strong> \u2013 including November\u2019s record total of\u00a0$316 million<\/strong><\/a>.<\/p>\n

With eight betting apps and 12 retail sportsbooks<\/strong>, Pennsylvania continues to expand its sports betting industry as it attempts to rival\u00a0New Jersey<\/strong> and\u00a0Nevada\u00a0<\/strong>as legal sports betting powers. (For perspective, nearby New Jersey needed <\/a>seven months<\/a>\u00a0<\/strong>to eclipse $1 billion.)<\/p>\n

PA online casinos, poker establishing footholds<\/span><\/h3>\n

The other two online verticals in Pennsylvania operate in the shadows of sports betting. Like regulated wagering, though, online casinos<\/a> and online poker<\/a> remain in their infancy.<\/p>\n

That said, the group of Pennsylvania online casinos has increased to five operators<\/strong> since going live in\u00a0July 2019<\/strong>. In November, that collective totaled some\u00a0$7.6 million\u00a0<\/strong>in revenue<\/a>, reflecting a\u00a0$2.75 million<\/strong> increase from October. Since launching with three operators, online casinos in Pennsylvania have spiked\u00a0$6.88 million<\/strong> in revenue.<\/p>\n

As for online poker, November marked the first month of the vertical in the Keystone State. And it did not disappoint, as\u00a0PokerStars\u00a0<\/strong>debuted<\/a> with rake and tournament fees totaling near\u00a0$2 million<\/strong>.<\/p>\n

Big names, big competition, big appetite for PA online gambling<\/span><\/h3>\n

Fear abounded that Pennsylvania\u2019s high tax rates and licensing fees would prevent the state from reaching anything close to full maturity.<\/p>\n

Who could blame them? Even today, PA\u2019s rates stand as the\u00a0highest in the country<\/strong>.<\/p>\n

Operators, however, flocked toward the Keystone State; those who saw rising success in New Jersey opened up shop in PA. The likes of DraftKings Sportsbook<\/strong>,\u00a0FanDuel Sportsbook\u00a0<\/strong>and\u00a0Fox Bet<\/strong> (among others) have thrown their hats into the Pennsylvania sports betting ring. As has\u00a0Unibet<\/strong>, which, like\u00a0SugarHouse<\/strong> and\u00a0Parx<\/strong>, also powers an online casino.<\/p>\n

Competition gradually swelled as 2019 wore on, seemingly in stride with the PA public\u2019s growing hunger for and acceptance of online gambling.<\/p>\n

How hungry has the public been? Of the state\u2019s top five properties\u00a0in terms of revenue during November 2019, four enjoyed noticeable boosts year over year \u2013 in part because of online gambling products:<\/p>\n