LAS VEGAS, May 18, 2021 /PRNewswire/ -- Sports betting
in Pennsylvania slowed to its
lowest level since September 2020, an
expected drop with a sports calendar absent the NFL or a major
betting holiday such as the NCAA Tournament, according to
PlayPennsylvania, which analyzes and researches the state's
regulated online gaming and sports betting market.
"Sports betting is following normal seasonal patterns seen in
almost every legal jurisdiction, so it might be until September
that the state's sportsbooks begin to challenge the state record
books again," said Dustin Gouker,
analyst for PlayPennsylvania.com. "With the Olympics and the NBA
Playoffs later than usual this year, this will still be a summer
that is better than a typical year. And that could be especially so
if Sixers make a deep run into July."
Pennsylvania's online and retail
sportsbooks accepted $479.4 million
in wagers in April, according to official data released Tuesday,
snapping a streak of four consecutive months above $500 million in wagers. April's volume was down
14.4% from $560.3 million in March
and the lowest since sportsbooks generated $462.8 million in September. Still, handle was up
dramatically over the $46 million in
bets taken in April 2020.
Sportsbooks won $36 million in
gross gaming revenue of April's wagering, up 1,025.1% from
$3.2 million in April 2020 though down 13.9% from $41 million in March. April's receipts produced
$26.3 million in taxable revenue,
yielding $8.9 million in state taxes
and $525,930 in local share
assessment.
Local interest in the playoff runs of the Philadelphia 76ers and
Pittsburgh Penguins, helped shallow the seasonal lull.
"Local teams performing well, such as the Sixers and Penguins,
are always a powerful incentive for bettors in any state," said
Valerie Cross, analyst for
PlayPennsylvania.com. "In the case of Pennsylvania, it was a key difference between
meeting expectations and falling short in April."
Online sports betting accounted for $439.1 million of April's handle, or 91.6%.
FanDuel/Valley Forge led online operators again with $167.6 million in online wagering.
Retail sportsbooks generated $40.3
million in handle in April. That was down from $45.9 million in March. April's action produced
$4.8 million in gross revenue, while
Rivers-Philadelphia topped the retail market with $7.7 million in bets.
"Retail betting, whether casino games or sports betting,
continues to inch toward normal, while the gains in online revenues
made over the last year continue to hold," Cross said. "That has
created an overall gaming market that easily surpasses pre-pandemic
level, even if retail betting is not quite where it was."
Online casinos and poker
With $105.5 million in gross
revenue and $92.7 million in taxable
revenue in April, Pennsylvania's online
and retail sports showed more dramatic year-over-year growth.
Online casino wagering hit $3.2
billion, up 128.6% from $1.4
billion in April 2020.
"Online casinos continue to thrive, even as retail casinos
operate under few restraints and competition among online operators
heats up," Cross said. "New operators joining the mix shows there
is still a belief that the online casino market in Pennsylvania has not yet reached its
peak."
Other highlights from April:
- April's revenue produced $25.5
million in state taxes and another $13.1 million in local share assessments and
county grants.
- Penn National topped the market with $36
million in revenue on $1.2
billion in wagers
- Poker revenue at Mount Airy/PokerStars hit $2.3 million.
For more, www.playpennsylvania.com/revenue.
About the PlayUSA.com Network:
The PlayUSA.com Network and its state-focused branches is a
leading source for news, analysis, and research related to the
market for regulated online gaming in the U.S.
Contact:
Zack Hall, Catena Media,
775-338-0745, 310254@email4pr.com
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SOURCE PlayPennsylvania.com