Pennsylvania made history in 2023 as one of America’s largest legal sports betting markets.
The Keystone State started the year by adding to its list of 12 sports betting operators in the state by awarding market access to bet365. The British sportsbook is currently live in seven states, including New Jersey and Ohio but has yet to announce a launch date in Pennsylvania. However, bet365 is poised to enter a robust market that is continuing to grow at a rapid rate.
The growth of Pennsylvania’s gaming market was evident in October when the state reported a record $829 million sports betting handle — a 14% increase compared to the month prior. The highest all-time handle for Pennsylvania beat October 2022’s previous record of $797 million.
The handle in October 2023, which saw 93% of all wagers placed online, generated $73.6 million in gross revenue — Pennsylvania’s third-highest figure since the onset of wagering in 2018. The strong revenue also represented an 11% uptick compared to the month prior and a nearly 20% increase year-over-year. Operators paid $16.4 million in taxes in October 2023.
The state’s 12 operators include DraftKings, BetRivers, BetMGM, ESPN BET, and FanDuel — the No. 1 sportsbook in America in terms of market share. FanDuel posted a $325 million handle during the state’s historic October. The handle was the largest ever by a single operator in the Keystone State. DraftKings closed the month second in handle with $255.5 million in wagers.
See also: Sports Betting in Maine in 2023
Diversifying business
Pennsylvania lawmakers are making efforts to expand the state’s already vast gaming market.
In March, Rep. Ed Neilson introduced a piece of legislation that proposes the legalization of esports betting. The bill — House Bill 733 — has been referred to the House Gaming Oversight Committee and would require wagering on esports in which players are 18 years of age or older.
See also: 10 Predictions, Bold and Otherwise, About Sports Betting in 2024
Not all perfect
Pennsylvania’s sports betting success in 2023 didn’t come without woes.
Last month, the state’s Gaming Control Board handed out punishments following violations by a casino and a slot machine manufacturer. The violations, which were presented by the Office of Enforcement Counsel, led the PGCB to give out $45,000 in fines and add four adults to the involuntary inclusion list. Slot machine maker Lightning Gaming was presented with a $5,000 fine after it failed to notify the PGCB of changes to its financial status. Hollywood Casino at Penn National Race Course was handed a $40,000 fine for hosting underage gambling.
Four adults were added to the involuntary inclusion list for leaving their kids in cars at casinos.
The PGCB levied $73,075 in fines earlier this year to two casino operators and a travel stop owner. The fines were for underage and prohibited gambling, lack of notification of ownership changes, and failure to renew licenses on time. The owner of Harrah’s Philadelphia Casino and Racetrack and fantasy company SportsHub PA were also fined a combined $48,000.
Pennsylvania will continue to finish the year strong with the Philadelphia 76ers emerging as one of the best teams in the NBA and the Philadelphia Eagles seeking another Super Bowl berth.
