Pennsylvania sports betting operators had a successful month in August, enjoying a 48% increase in revenue compared to the previous year. According to reports, the state’s sportsbooks generated $40.8 million in revenue in August 2021, up from $27.6 million in August 2020.
The surge in revenue can be attributed to a rise in both online and retail sports betting activity. Online sports betting accounted for $39.5 million of the total revenue in August, while retail sportsbooks brought in $1.3 million. This marks a significant increase from the previous year when online betting revenue was $26.2 million and retail betting revenue was $1.4 million.
Pennsylvania’s sports betting market continues to grow, with more operators entering the market and offering a variety of betting options to customers. The state currently has 12 online sports betting operators, including big names like DraftKings, FanDuel, and BetMGM.
The success of Pennsylvania’s sports betting industry is also reflected in the amount of taxes collected by the state. In August 2021, sports betting operators generated $16.7 million in taxes, up from $10.9 million in August 2020. This revenue helps support various state programs and initiatives.
Overall, Pennsylvania sports betting operators are optimistic about the future of the industry in the state. With a growing customer base and increasing revenue numbers, operators are looking forward to continued success in the months ahead.
In conclusion, Pennsylvania’s sports betting operators had a strong showing in August, with a 48% increase in revenue year-over-year. The success of the industry is attributed to a rise in online and retail betting activity, as well as the growing number of operators in the market. With a promising outlook for the future, Pennsylvania’s sports betting industry is poised for continued growth and success.
Source
Photo credit news.google.com
