Pennsylvania’s Gaming Industry Set to Make More Than $5 Billion This Year

Trusted Online Casinos » Pennsylvania’s Gaming Industry Set to Make More Than $5 Billion This Year

Pennsylvanian citizens have certainly enjoyed the state’s commercial gaming industry, with 2022 seeing the industry approach a record $5.2 billion in revenue. But now, eyes have shifted towards 2023 and what sort of surprises await its citizens.

No new casinos opened in the previous year, likely due to a lack of funding or resources one could infer, however sports betting and online casino options did see expansion with PointsBet Pennsylvania becoming a major casino operator within the state. With Pennsylvania’s emerging markets providing exciting prospects this coming year, be sure to keep an eye on what moves they make next.

Online Gambling Has Experienced A Significant Surge In Popularity

Online gambling is seeing a major uptick this year despite the economic hardships brought on by the pandemic. According to unofficial estimates released by the Pennsylvania Gaming Control Board, gamblers poured $4.73 billion into that kind of entertainment over 11 months in 2022 – an impressive achievement and a figure that will no doubt be bolstered significantly once December figures are taken into account.

That increase was largely driven by operators of online casinos, who managed to increase their share of the profits to an estimated $1.35 billion compared to $1.11 billion in 2021. Needless to say, 2023 looks set to be another banner year for gambling in Pennsylvania despite the many challenges that have plagued industries nationwide.

Key Developments In 2022 Pennsylvania’s Gaming Industry

  • Pennsylvania followed New Jersey’s lead and implemented multi-factor authentication for online operators as an essential security measure to protect customers’ accounts.
  • Rivers Casino in Pittsburgh set a new U.S. record for the highest “bad beat” jackpot ever awarded in August when it gave out an incredible $1.2 million to a group of poker players!
  • Gaming establishments were given the go-ahead to decrease their amount of slot machines after considering new economic patterns and guest comfort in a post-COVID world.
  • February marked the first time Pennsylvania’s online and retail sportsbooks ever experienced negative numbers in their adjusted, taxable revenue – a whopping $442,847! This number reflects both money that was won by bettors, as well as promotional credits, given to them.
  • In February, the state of Pennsylvania witnessed a historic moment when the first non-traditional sports betting venue opened — Chickies & Pete’s in Chester County. The restaurant/bar featured an OTB race and sportsbook for their customers to enjoy!
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