Pennsylvania releases first figures on sports betting revenue

Two months after officially legalising sports betting, Pennsylvania has released the first figures on the new industry’s returns, revealing $32 million was bet through in January.

Six licensed casinos across the state profited a combined $2.6 million, which was down compared to takings in states like New Jersey and Rhode Island, which also legalised the practice in 2018.

The casinos licensed to take sports bets on their premises included Rivers Casino, the SugarHouse, Hollywood Casino, Parx Casino, Harrah’s and the South Philly Turf Club.

Pennsylvania has yet to legalise and regulate online sports betting, which obviously puts a huge dent in earning power.

• Learn more about Pennsylvania’s betting laws & history here

New Jersey, which has 11 bookmakers offering legal betting apps for smart phones and tablets, as well as online betting sites, turned over close to $400 million in January, providing Pennsylvania law-makers with millions of reasons to consider expanding their own industry.

Overall, Pennsylvania is enjoying a bumper year of gambling production, having recorded a rise in casino profits during a record-setting 2018.

Essentially, the legalisation of sports betting has done nothing to hurt the casino industry and, like other states that have regulated the practice, the government has enjoyed a significant rise in taxes while providing its citizens with a safe, regulated option to gamble while taking money out of the hands of the black market and illegal bookmakers.

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