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Pennsylvania Sports Betting Revenue Reaches $1 Billion
The online gambling industry has been hitting new records — and it’s not just PA online casinos, either!
Pennsylvania sports betting hit a major milestone in March when the gross betting revenue for sports surpassed the $1 billion mark. Though promotional deductions decrease the revenue to $678.6 million, this is still a huge milestone for the state.
Considering the state of Pennsylvania only legalized sports betting in 2018 and online gambling in 2019, this is major. We can only guess what this means for neighboring states, such as New York and New Jersey.
Despite February not driving major online sports betting revenue, Pennsylvania still saw major wins the following month. We can probably thank March Madness for those March gains; in April, sports betting revenue dipped once again — this time to a new low (one we haven’t seen since 2020).
Does that mean that sports betting is now on the decline for Pennsylvania? We can’t imagine it would be! Now that baseball season is in full swing (and the fears of a lockout far behind us), we’d imagine that betting will be up again for the summer sports season.