PA Sportsbooks, On-line Casinos Hit File Highs in January 2022

NFL betting spurs almost $800 million in wagers, whereas on-line casinos prime $130 million in income for first time, in accordance with PlayPennsylvania.

(LAS VEGAS) — Pennsylvania’s on-line and retail sportsbooks capitalized on 5 weekends of soccer in January to interrupt the state’s month-to-month report for wagering as soon as once more. The surge in sports activities betting coupled with one other report in on-line on line casino income made January one of the profitable months but for Pennsylvania’s on-line gaming business, in accordance with PlayPennsylvania, which tracks regulated on-line gaming and sports activities betting within the state.

“Pennsylvania’s sports activities betting development has lagged behind equally sized states like Illinois, however the development has nonetheless remained constant,” mentioned Dustin Gouker, analyst for the PlayUSA.com Community, which incorporates PlayPennsylvania.com. “Merely put, whether or not it’s sports activities betting or on-line on line casino gaming, extra persons are betting extra usually now than a yr in the past. And there may be little cause to imagine the expansion will cease this yr.”

Pennsylvania sportsbooks generated $793.7 million in wagers, which was up 29.0% from $615.3 million in January 2021, in accordance with official information launched Friday. January’s deal with rose 5.8% from $750.4 million in December and topped the earlier report of $776.3 million wagered in October 2021.

Sportsbooks received $53.4 million in gross income from these wagers, up 8.3% from $49.3 million in January 2021 and up 17.9% from $45.3 million in December. After $21.2 million in promotional spending, sportsbooks closed the month with $32.2 million in taxable income, yielding $11.6 million in state taxes and native share assessments.

“The NFL did sportsbooks an enormous favor this yr by including per week of normal season video games and increasing the playoffs, then enjoying remarkably shut video games that stored bettors engaged from begin to end,” mentioned Katie Kohler, an analyst for PlayPennsylvania.com. “With 5 full weekends of NFL video games for the primary time ever in January, a full slate of NBA motion, and school soccer’s nationwide championship, something lower than a wagering report would have been a disappointment.”

On-line sportsbooks accounted for $737.4 million, or 92.9% of the state’s deal with in January. FanDuel was the net market chief with $273.3 million in wagers, or 34.8% of the state’s on-line market. That led to a state-best $25.1 million in operator income.

DraftKings was second in January with $197.6 million in wagers, yielding $8.4 million in gross income. BetMGM adopted with a $84.4 million deal with, producing $5.5 million in gross income. Penn Nationwide’s Barstool-branded app was fourth with $74.7 million in on-line wagers, yielding $3.4 million in gross income.

Retailer sportsbooks generated $56.3 million in wagers in January, down from $57.1 million in December. Wagers yielded $5.8 million in gross income, up from $2.8 million. Rivers Pittsburgh topped the retail market with $9.2 million in bets, topping Parx’s $8.3 million deal with.

On-line casinos and poker

On-line casinos and poker rooms produced a report $130.0 million in gross gaming income in January, edging the earlier better of $127.6 million reached in December by 1.9%. Income was additionally up 42.5% from $91.2 million in January 2021.

In the end, on-line on line casino video games and poker produced a report $108.3 million in taxable income, which yielded $44.6 million in state taxes and native assessments.

“The recognition of on-line casinos have had a optimistic impact on on-line sportsbooks, particularly with apps like DraftKings, BetMGM, and Barstool which have a powerful foothold in each,” Kohler mentioned. “In essence, on-line on line casino gaming is the tide that lifts all boats.”

Different highlights from January:

• On-line casinos and poker rooms gained $4.2 million in gross gaming income per day over the 31 days of January, up from $4.1 million per day in December.
• Wagering at on-line casinos slipped to $4.1 billion from $4.3 billion in December.
• Poker generated $3.4 million in income. Mount Ethereal/PokerStars topped poker operators with $2.2 million in income.
• Penn Nationwide, which incorporates the DraftKings, BetMGM, Barstool, and Hollywood casinos, topped on-line casinos with $51.2 million in gross income. Rivers Philadelphia, which incorporates SugarHouse, Borgata, and BetRivers casinos, was second with $33.5 million.

For extra info and updates on authorized betting in PA, go to PlayPennsylvania.com/information.

Contact: Zack Corridor, Catena Media, [email protected].

Photograph credit score: AP Photograph/Charlie Riedel