Pennsylvania’s sports gambling market surpassed expectations in 2019
The Keystone State saw more than $24.5 million in revenue last year
It has been a full year after Pennsylvania first allowed legal sports gambling to operate and, after the annual revenue reports were published, it is clear that this is a very profitable activity. The Keystone State posted record-high revenue from gaming that was evidently superior in comparison to last year, in which sports gambling was still illegal. During this year, several locations spent million in developing different facilities, such as lounges for gambling and all kinds of online betting products, which is usually the most looked for activity. The state did very well for itself as a result.
In a nutshell, the total revenue increased 4.5% based on last year’s numbers, the total amount was reported at $3.4 billion. Casinos reported over $84 million in wagering revenue across the state’s 12 casinos based on the report made by the Pennsylvania Gaming Control Board. Out of those casino facilities, the most money was made by Valley Forge Casino Resort when over $570 million was wagered during 2019. Of that, $24.5 million was bet on sports.
The activity continues to impress the authorities and mobile bets on sports continue to take the biggest piece of the cake. For Pennsylvania, and more specifically Valley Forge, $22.2 million out of that $24.5 million came from online sports betting through the platform provided by fantasy sports operator giant FanDuel.
Until today, Valley Forge the only casino that partnered up with FanDuel to provide sports gambling service until Cordish Cos. is ready to open a casino and sportsbook in South Philadelphia later this year.