PointsBet Joins Pennsylvania Gambling Market

PointsBet Joins Pennsylvania Gambling Market

PointsBet got a license to operate an online casino and sportsbook in Pennsylvania, shortly after the state recorded one of its greatest years in the gambling sector. 2021 was an excellent year for the Pennsylvania gaming market. It was a record-setting year, as the revenue figures broke pre-pandemic records, topping $1 billion.

Operators live to remember last year for breaking the yearly sports betting handle record. For example, the December handle increased by 37 percent from the previous year.

Apart from sports betting, other parts of the gaming industry also experienced a surge. Retail table games and slot machines generated a lot of money while video gaming terminals followed suit. This revenue increase benefited gaming operators as well as the state through tax revenue.

More About PointsBet

PointsBet started its operations in Australia, offering sports betting. It has quickly compounded to one of the best online operators in the UK and the U.S. besides Australia. Today, the brand is headquartered in Denver, CO, and is the official sports betting partner of NBC Sports.

In the USA, PointsBet has partnered with four key American sports. Moreover, Pennsylvania is not the only state PointsBet has penetrated recently. Just last month, it moved into New York, making Penn its tenth state to move into.

The operator’s success is mainly because it has its technology for gaming operations. PointsBet is yet to launch its services in the Keystone State. But, when it does, players will gain full access to the online sportsbook and casino.

Players will use mobile apps to access PointsBet gambling platforms. They will use the typical fixed sports betting odds and PointsBetting wagering style.

A Look at PA Gambling in December

The latest report from the Pennsylvania Gaming Control Board shows December was a huge success for gaming operators. For starters, sports betting revenue exceeded $34 million, which is an 80 percent increase from the previous December.

The report shows that the handle was around $750 million, almost 37 percent more from the previous December. The state loosened some restrictions, allowing increased success in the gaming industry. Money generated from slot machines and other casino games increased by 300 percent by the end of 2021.

Being one of the few states that still allow Video Gaming Terminals (VGTs), Penn’s VGT’S revenue tripled to $3.4 million in December from 2020’s December.

While every gaming sector seems to have increased revenue, sports wager revenue decreased. It was $18.8 million, a 44.75 percent decrease from the previous December.

Generally, the record revenue for December and most other months in 2021 surpassed pre-pandemic records. This could be the benchmark for an even better 2022.

Ideally, the generated gambling revenue in 2021 almost doubled. Operators generated over $1.1 billion in 2021 from online gambling platforms.

The state collected $4.73 billion in tax from various gambling operators. This replaced the previous record of $3.41 billion in 2019 and a 78.5 percent increase from 2020’s tax revenue.

Meanwhile, PointsBet plans to enter more states in the coming months. For now, we know that players will have access to the brand’s online casino and sportsbook because it confirmed getting operating licenses for both.

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