The state’s licensed betting operators are expected to go live with digital betting within weeks; online casino gaming poised to commence by July 15
Residents of the Keystone State are just weeks away from being able to place online bets on sporting events, the Pennsylvania Gaming Control Board said Wednesday.
The state gaming regulator’s spokesperson, Doug Harbach, said yesterday that testing for online sports betting is expected to begin “within the next two to three weeks.” Mr. Harbach also pointed out that at least one of the operators authorized to provide digital wagering will be “in a position to offer testing” for their online sportsbooks.
The PGCB will release more details about how and when bettors will be able to register to participate in online sports gambling in the coming weeks.
News about Pennsylvania finally being ready to go live with regulated digital betting arrive on the heels of record financial results for the month of March.
The state gambling watchdog also said Wednesday that online casino gambling is scheduled to begin in the week of July 15. Pennsylvania legalized online and retail sports betting as well as online casino gambling in the fall of 2017 as part of a sweeping reform of the state’s gambling industry, seeking additional revenue for its coffers.
Mr. Harbach said Wednesday that at least three casino operators will be ready to start testing their gaming websites in the week of July 15. Most of Pennsylvania’s casino owners have paid the $10 million license fee to be authorized to provide online slots and table games.
Record Month for Regulated Sports Betting
The widespread popularity of the NCAA Men’s Basketball Tournament and the launch of two new sportsbooks came as a major boost to sports betting activity in Pennsylvania in March. The local market set monthly records for both revenue and handle last month.
The state’s sports betting facilities processed a total of $44.5 million in wagers in March. The record handle was the largest recorded last month outside the nation’s two largest gambling markets – Nevada and New Jersey. Bearing in mind the latest data reported by the PGCB, it can be said that Pennsylvania is on track to cement itself the third largest sports betting market in the United States.
The state’s sportsbooks generated record revenue of $5.5 million in March, up from $1.9 million in February and from $2.6 million in January. Pennsylvania received tax revenue of just under $2 million as a result from the increased betting activity, up from $700,854 in February.
Commenting on the latest developments in the state’s nascent betting industry, PlayPennsylvania.com analyst Jessica Welman said that the local market “has seemingly limitless potential and March was a significant step forward.”
The state is anticipated to receive a major boost once digital betting goes live. In neighboring New Jersey, online sports gambling quickly became a major driver of growth and a leading vertical in the sports betting market, with 80% of all bets being placed digitally.
Lead PlayPennsylvania.com analyst Dustin Gouker believes that “the growth of Pennsylvania’s market is stunted without sports betting” and that when digital betting finally goes live in the state “the industry will be poised to challenge larger markets for supremacy.”
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