Pennsylvania Progressive Numbers in Sports GamblingLegal
The PGCB (Pennsylvania Gaming Control Board) was pleased to report a 16.9% year-on-year rise in sports gaming revenue in January, 2020. The major influence of the jump was heavily aided from recent contributions from iGaming as well as the continued growth in interest of sports betting.
The total revenue from land-based table games and slots, sports betting, fantasy sports, and video gaming terminals fielded a major boost in January to 302.8 million dollars. The astronomical increase was fueled by a few of the following…
- Land-based slot dollars accounting for 19.3 million, up 5.8%.
- Land-based table games accounting for 5.8% million, down 2.5%
- Sports betting heavily fueled by the NFL playoffs saw a rise of 1.7 through the season to 328.4 million.
The majority of sports wagering on the National Football League was wagered online, accounting for 308.6 million of the total revenue received. Land-based platforms fell 11.8% to 39.8 million.
Valley Forge Casino and Meadows Casino
Valley Forge Casino has recently partnered with Flutter Entertainment’s FanDuel. The casino has a 40,000 square foot gaming floor as well as two luxury hotel towers. They have taken full advantage of the advantages of the partnership with FanDuel and have enjoyed the rewards. Meadows, partnered with DraftKings, has also grown as a major competitor in Pennsylvania as they reap the benefits of the success of their new collaboration.
Rush Street’s Rivers Casino
Rush Street’s Rivers Casino Philadelphia is currently the second-largest venue in terms of revenue. Rush Street’s Pittsburgh location followed in fourth. They are the ‘leading edge of the gaming industry convergence by bridging iGaming and social and brick-and-mortar businesses in a way that creates value,’ according to www.rushstreetgaming.com.
Pennsylvania’s iGaming market revenue grew 31.4%. Online slot play rose 31.4% to $7.2 million, and online table games rose to an astonishing 78.5% raising to 4.6 million. Poker also experienced a healthy sum of $2.2 million.
A majority of Pennsylvania’s sports betting market is fueled by DraftKings and FanDuel. DraftKings led the market in January accounting for one million of revenue. FanDuel reported a slight 3.8% decrease in their revenue, dropping to $960,471. The most popular sports betting options are as follows…
- Football – 15.2%
- Basketball – 37%
- Baseball – 0.1%
- Parlays – 25.1%
- Other – 22.7%
Yahoo Fantasy Sports also enjoyed a healthy January in revenue, reporting a 26.1% increase. SportsHub Technologies, however, experienced a 26.8% drop in the month.
Gaming terminals located at Pennsylvania truck stops also saw a 26.9% increase in revenue from December 2019. 11.2 million dollars was invested throughout these establishments.
It seems inevitable the growth of the gaming industry isn’t going anywhere anytime soon in the state, and the benefits will only continue to grow for the State of Independence.