After sports betting was introduced and legalized in the state of Pennsylvania in 2019, many would have been waiting to see how well it would do and it seems it has been a huge success for the state.
Although a number of Spanish-speaking residents may click here to find the best options available to them, there are a number of top operators that are currently providing a number of online gambling activities that can be accessed on mobile devices or even in-person just six months after the U.S. Supreme Court decided to end the federal ban that had been in place in May 2018.
And, it seems to have been a move that will ultimately benefit the state of Pennsylvania in the long run, as the region has been found to be within the top three sports betting states within the entire country.
Perhaps unsurprisingly, the state trails the likes of New Jersey and Nevada in regard to seeing more money being placed on wagers, however, it is significantly higher than the state of Illinois which is fourth on a list to have recently been compiled by data made available.
$10.9 billion to have been spent on sports betting by residents
In November 2021, according to the latest data available, Pennsylvania had managed to generate more than $63 million in sports betting revenue, which is rather good news for the state as it meant that it was able to collect a significant portion of that revenue in taxes. Currently, the state tax revenue is 34% whereas the counties within the borders are also able to collect 2%.
In order to provide some further context to the numbers, those who have participated in sports betting across the state have spent a total of $10.9 billion; with Nevada ($19.8 billion) and New Jersey ($21. 6 billion) being the only states to have experienced greater revenues than them in the same time period.
Pennsylvania has been a state that has always been interested in allowing sports betting to take place within its borders, having looked to legalize online wagering and fantasy sports as early as 2017, however, the federal court case that was being heard at the time had held up any progression that may have occurred.
Indeed, with the current levels of growth to have been experienced in such a short time across the state, it would not be a real surprise if we were to see more growth and larger revenue amounts to be experienced in the coming 12 months (and beyond).
Some of Pennslyvania’s sports teams will more than likely have an influence on helping the amount of revenue to increase, with some of them have had some success in the various competitions that they compete in.
For instance, the Philadelphia Eagles managed to make the NFL playoffs which are likely to have led to an increase in sports wagering within January, whilst the NHL’s Pittsburgh Penguins are amongst one of the best teams in ice hockey this season, thus likely to have attracted additional interest.