Pennsylvania’s sports betting industry continues to show strong growth as the state’s May sports betting handle rose by 19% compared to the previous year. The Pennsylvania Gaming Control Board reported that the total amount wagered in May 2021 was $447.5 million, an increase from the $372.5 million wagered in May 2020.
This growth can be attributed to the increasing popularity of sports betting in the state, as well as the continued expansion of the online sports betting market. Online sports betting accounted for the majority of the total handle in May, with $435.7 million wagered online compared to just $11.8 million wagered at retail sportsbooks.
Additionally, the state’s sports betting revenue also saw a significant increase in May. The total revenue generated from sports betting in May 2021 was $36.8 million, up from $19.9 million in May 2020. This represents a 85% year-over-year increase in revenue.
The growth of Pennsylvania’s sports betting industry is a positive sign for the state’s economy, as it provides a source of revenue for the state and creates jobs in the industry. It also shows the potential for continued growth in the future, as more states consider legalizing sports betting.
Overall, Pennsylvania’s sports betting industry continues to thrive, with record-breaking handle and revenue numbers in May. With the popularity of sports betting on the rise and the increasing accessibility of online betting options, the industry shows no signs of slowing down.
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