According to ResearchAndMarket.com, a site whose primary focus is how various gambling markets perform, Pennsylvania is so far the fastest gambling growing market in the United States. The research site goes on to say the United States’ gambling sector, especially online gambling is estimated to register a whopping CAGR of more than 15.4% between 2020 and 2025.
Record Online Casinos Revenue Numbers
Being the fourth biggest U.S state to legalize regulate and operationalize online gambling, Pennsylvania now enjoys all of the industry’s benefits, having recorded high numbers in revenue from online gambling for four straight months starting since June 2020. According to the states’ gaming and control board, Pennsylvania’s July revenue from online gambling rose from a few million dollars in April, May, and June, to hit a whopping $54.4 million in July. This revenue collection almost reached the amount of revenue collected in May, which so far is the all-time highest at $55.8 million. Although the July 2020 revenue collection was not as impressive as that of May, there are many reasons to celebrate. The collection is an indicator that Pennsylvania gambling industry, which is still at a young age, will hit high in subsequent years.
Growing Attention from PA Players
In addition, the impressive revenue collection comes from online casinos, which are now the only gambling option during a time of the Covid-19 pandemic. Back in March, the PGCB gave a directive shut down the state’s land-based casinos. Although there is a slight relief, after the same board gave another directive to open the brick and mortar casinos for a half the usual capacity, it appears that the owners of the casinos will continue to suffer low collection compared to their online casino counterparts. Although brick and mortar joints continue to operate on a 50% capacity, more players prefer to play online through their cell phones and desktop computers. Online-casinos.com talks more about Pennsylvania online casinos. So, check out the site for guides on how to get interested with online gaming in PA.
Breakdown on How the Revenue Was Collected and Used
Of the $54.4 million collected in July, $51.4 million came from various table games and slots while the rest of the revenue came from playing online poker games. According to the PGCB, the state would use part of the $23 million of the total revenue and the remaining part would be used to facilitate local taxes. Although July recorded a slight negative difference in revenue from May, the month’s slot revenue collection was still higher than that of June. July’s slot revenue collection was $39.4 million, which was some $3 million up from June. Additionally, revenue collected from table games increased by over $2 million to hit $11.9 million in July. The month’s combined income from tax and card games increased by approximately $160 million compared to June but still fell short of May by some $17.5 million. Nonetheless, looking at the records and the circumstances which players are subjected to, such as the surge in coronavirus, the then impending U.S. Presidential Election, and the total to partial shutdown of brick and mortar joints, Pennsylvania recorded three straight months of increased revenue collection. That said, Pennsylvania has 12 registered brick and mortar casinos. However, the impressive July report did not include all the 12 casinos. Only ten out of the twelve were recorded in the report.
Most Profitable Games
Although there are several online games, the new Pennsylvania gambling law requires a section of the online games to remain closed. Some of these online games available, though, include sports betting, online poker, and different types of slots. Other allowed games that continue to bring in revenue include casino gaming such slots, blackjack, roulette, horse race betting, sports betting, Poker, daily fantasy sports and table games All the above online gambling options are regulated by PGCB while the Pennsylvania Lottery controls and regulates the gambling on various lotteries. With the current trend, it is evident that Pennsylvania gaming industry will become a boom if PGCB will expedite various gaming rules in place. For instance, the American Gaming Association (AGA) says in 2017, Pennsylvania’s gambling revenue collection amounted to 3226.92 million USD. That revenue collected from the various gambling options was second after the revenue collected in the state of Nevada, which is considered the hub of gambling.
Better Technology, Payment Options, And Quality Of Games
Speaking on the impressive revenue collection, the PGCB cited a number of things. The increasing demand on mobile casino games, which makes it accessible to anyone from the comfort of their couches, was the first win. It is never necessary to visit a brick and mortar casino especially now that the state has asked all our joints to either shut or accept a half the intended capacity,” said the PGCB boss. In addition, technology continues to make it even better for gamers to a variety of games over the Internet remotely. Once they do, they are able to find crystal clear games they are able to place their money, play, and enjoy. Modern games are captured in 3-D, allowing for decent gambling. Most online casinos are hosted in the U.S, where technology, internet, and in-design are robust. With these alone, players are sure they will choose their games and play as long as they desire. Online casino sites have been built with high-tech features that make it easy for anyone, including amateur gamblers to enjoy their games. Payment options is another thing that has made not only Pennsylvania gaming facilities to thrive but also all gaming sites across the U.S where gambling is legal. Unlike in the past, gamers can now make deposits and withdrawals in their preferred currency, including Bitcoin anytime they want. Various online casinos and brick and mortar joints offer players inviting bonuses. With huge bonuses on almost every game, players will not hesitate to put their money on the game. Cover image credit: Parx Casino
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