PointsBet has received licenses to begin offering a sportsbook and online casinos in Pennsylvania. The Australian company is already live in Michigan and New Jersey.
The as-yet-unannounced PointsBet Pennsylvania online gambling launch date will put the company in a lucrative market. In 2021, Pennsylvania set numerous gambling records in generating $4.73 billion in tax revenue.
That total was 38.7% higher than the previous record of $3.41 billion in 2019 and up 78.5% from 2020. IGaming revenue exploded by 96.7% from 2020, finishing at 1.11 billion.
Said PointsBet USA CEO Johnny Aitken in a release:
“We are excited to be inching closer to officially offering PointsBet’s market-leading products to sports fans and bettors in Pennsylvania, in partnership with Penn National Gaming.”
PointsBet currently offers sports wagers in Colorado, Illinois, Indiana, Iowa, Michigan, New Jersey, Virginia, and West Virginia.
Pennsylvania online gambling market continues to grow
Other findings from the year-end Pennsylvania revenue report:
- Sports betting revenue increased 79.3% from a year ago to $340.1 million.
- Sports betting handle increased 83% to $6.55 billion and beat the previous record set in 2018.
- Valley Forge Casino Resort and FanDuel led all operators in sports betting revenue ($150.9 million), with a 118.4% increase from 2019.
- DraftKings led in fantasy sports revenue ($29.9 million) with a 38.5% increase from 2019. FanDuel logged $12.4 million.
December helped finish off a strong year for online gambling in Pennsylvania
Bullet points from the December Pennsylvania Gaming Control Board revenue report:
- Sports betting revenue jumped 81.4% higher to $34.1 million from the same period last year.
- Sports betting handle for December was up 36.8% to $750.4 million as compared to December 2020.
- Retail slot machine revenue increased 363.3% to $195.5 million over the same period last year.
- Retail table games revenue ballooned by 388.7% to $83.4 million.
- Video gaming terminal revenue increased by 317.9% to $3.4 million in December, as compared to the same month the previous year.