{"id":44606,"date":"2021-02-18T09:34:11","date_gmt":"2021-02-18T09:34:11","guid":{"rendered":"https:\/\/gaming-awards.com\/NEWS\/?p=44606"},"modified":"2021-02-18T09:35:10","modified_gmt":"2021-02-18T09:35:10","slug":"pennsylvania-online-gambling-hits-record-january-2021","status":"publish","type":"post","link":"https:\/\/gaming-awards.com\/NEWS\/pennsylvania-online-gambling-hits-record-january-2021\/","title":{"rendered":"Pennsylvania Online Gambling Hits Record January 2021"},"content":{"rendered":"<p style=\"text-align: left;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-37783\" src=\"https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2019\/03\/online-gambling-300x212.png\" alt=\"\" width=\"300\" height=\"212\" srcset=\"https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2019\/03\/online-gambling-300x212.png 300w, https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2019\/03\/online-gambling-768x541.png 768w, https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2019\/03\/online-gambling.png 800w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><a href=\"https:\/\/gaming-awards.com\/NEWS\/pennsylvania-online-gambling-sees-huge-rise\/\">Pennsylvania&#8217;s<\/a> sportsbooks and online <a href=\"https:\/\/gaming-awards.com\/NEWS\/pennsylvania-orders-casinos-to-shut\/\">casinos<\/a> extended their momentum in January, opening 2021 with more than\u00a0<span class=\"xn-money\">$600 million<\/span>\u00a0in monthly sports wagers for the first time while setting a fresh record for online casino revenue. With the hot start,\u00a0<span class=\"xn-location\">Pennsylvania&#8217;s<\/span>\u00a0sportsbooks are on the path to bring nearly\u00a0<span class=\"xn-money\">$6 billion<\/span>\u00a0in sports wagers in 2021 with the state&#8217;s online casinos capable of reaching more than\u00a0<span class=\"xn-money\">$800 million<\/span>\u00a0in taxable revenue, according to projections from\u00a0<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3071009-1&amp;h=2915482312&amp;u=http%3A%2F%2Fwww.playpennsylvania.com%2F&amp;a=PlayPennsylvania\" target=\"_blank\" rel=\"nofollow noopener\">PlayPennsylvania<\/a>.<\/p>\n<p style=\"text-align: left;\">&#8220;A return to relatively normal \u2014 with a healthy retail market and a dependable sports schedule \u2014 would be enough to fuel growth in\u00a0<span class=\"xn-location\">Pennsylvania&#8217;s<\/span>\u00a0gaming industry,&#8221; said\u00a0<span class=\"xn-person\">Dustin Gouker<\/span>, lead analyst for PlayPennsylvania.com. &#8220;There are a lot of positive signs right now as sportsbooks and online casinos continue to gain steam, and hopefully, the state&#8217;s brick-and-mortar casinos begin to regain their footing. If things do return to normal, the gaming industry should see significant gains across the board in 2021.&#8221;<\/p>\n<p style=\"text-align: left;\"><span class=\"xn-location\">Pennsylvania&#8217;s<\/span>\u00a0<a href=\"https:\/\/gaming-awards.com\/NEWS\/pennsylvania-gambling-revenues-beat-2019-figures\/\">online<\/a> and retail sportsbooks took yet another leap forward in January with\u00a0<span class=\"xn-money\">$615.3 million<\/span>\u00a0in bets in January, according to official data released Wednesday. That was up 76.6% from\u00a0<span class=\"xn-money\">$348.4 million<\/span>\u00a0in\u00a0<span class=\"xn-chron\">January 2020<\/span>\u00a0and topped the record\u00a0<span class=\"xn-money\">$548.6 million<\/span>\u00a0in wagers set in December.<\/p>\n<p style=\"text-align: left;\">Those bets produced\u00a0<span class=\"xn-money\">$34 million<\/span>\u00a0in taxable revenue, up 49.1% from\u00a0<span class=\"xn-money\">$22.8 million<\/span>\u00a0in\u00a0<span class=\"xn-chron\">January 2020<\/span>. That yielded\u00a0<span class=\"xn-money\">$11.5 million<\/span>\u00a0in state taxes and\u00a0<span class=\"xn-money\">$679,408<\/span>\u00a0in local share assessments. Since launching in\u00a0<span class=\"xn-chron\">November 2018<\/span>,\u00a0<span class=\"xn-location\">Pennsylvania<\/span>\u00a0sportsbooks have generated\u00a0<span class=\"xn-money\">$111.7 million<\/span>\u00a0in taxes.<\/p>\n<p style=\"text-align: left;\">&#8220;<span class=\"xn-location\">Pennsylvania&#8217;s<\/span>\u00a0tax structure did slow down the early progress of the industry, but the high tax rate no longer appears to be much of an impediment,&#8221; said\u00a0<span class=\"xn-person\">Valerie Cross<\/span>, analyst for PlayPennsylvania.com. &#8220;Operators have flocked to the state and produced millions in revenue. In that way, regulators achieved their goal of creating a reliable revenue producer for the state, and that could attract attention from other states as they work to set up legal sports betting.&#8221;<\/p>\n<p style=\"text-align: left;\">Online betting produced 94.3% of January&#8217;s handle. FanDuel Sportsbook\/Valley Forge Casino topped the market again with\u00a0<span class=\"xn-money\">$220.7 million<\/span>\u00a0in online bets, up from\u00a0<span class=\"xn-money\">$207.6 million<\/span>\u00a0in December.<\/p>\n<p style=\"text-align: left;\">Retail sportsbooks, which reopened on\u00a0<span class=\"xn-chron\">Jan. 4<\/span>, bounced back from a rough December with a\u00a0<span class=\"xn-money\">$35.4 million<\/span>\u00a0handle, winning\u00a0<span class=\"xn-money\">$4 million<\/span>.<\/p>\n<p style=\"text-align: left;\">&#8220;Casino closures have certainly spurred online casinos and online sportsbook betting, which will provide some long-term benefits for the industry,&#8221; Gouker said. &#8220;But for the state&#8217;s gaming industry to truly be healthy, it needs to see a full recovery with retail betting. If the pandemic continues to recede, that return to health could happen by the second half of 2021.&#8221;<\/p>\n<p style=\"text-align: left;\"><b>Online casinos and poker<\/b><\/p>\n<p style=\"text-align: left;\">Online casinos and poker rooms continued their momentum with a record\u00a0<span class=\"xn-money\">$80.4 million<\/span>\u00a0in January revenue, up from\u00a0<span class=\"xn-money\">$71.6 million<\/span>\u00a0in December.<\/p>\n<p style=\"text-align: left;\">Online casinos took in\u00a0<span class=\"xn-money\">$2.6 million<\/span>\u00a0per day over the month&#8217;s 31 days, up from\u00a0<span class=\"xn-money\">$2.3 million<\/span>\u00a0per day over the 31 days in December. That revenue generated\u00a0<span class=\"xn-money\">$17.3 million<\/span>\u00a0in state taxes and another\u00a0<span class=\"xn-money\">$10.2 million<\/span>\u00a0in local share assessments and county grants.<\/p>\n<p style=\"text-align: left;\">&#8220;With retail casinos closed, December&#8217;s record could have been an outlier,&#8221; Cross said. &#8220;But January&#8217;s results prove that the gains made last month are more than resilient. Such a strong start to the year could mean a year with more than\u00a0<span class=\"xn-money\">$800 million<\/span>\u00a0in online casino revenue, which would be huge for the state.&#8221;<\/p>\n<p style=\"text-align: left;\">For more,\u00a0<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3071009-1&amp;h=3978754658&amp;u=http%3A%2F%2Fwww.playpennsylvania.com%2Fnews&amp;a=www.playpennsylvania.com%2Fnews\" target=\"_blank\" rel=\"nofollow noopener\">www.playpennsylvania.com\/news<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pennsylvania&#8217;s sportsbooks and online casinos extended their momentum in January, opening 2021 with more than\u00a0$600 million\u00a0in monthly sports wagers for the first time while setting a fresh record for online casino revenue. With the hot start,\u00a0Pennsylvania&#8217;s\u00a0sportsbooks are on the path to bring nearly\u00a0$6 billion\u00a0in sports wagers in 2021 with the state&#8217;s online casinos capable of [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":24966,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,11,8,18],"tags":[],"class_list":["post-44606","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gaming","category-headlines","category-latest","category-n-america"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pennsylvania Online Gambling Hits Record January 2021 - iGaming Post<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gaming-awards.com\/NEWS\/pennsylvania-online-gambling-hits-record-january-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pennsylvania Online Gambling Hits Record January 2021 - iGaming Post\" \/>\n<meta property=\"og:description\" content=\"Pennsylvania&#8217;s sportsbooks and online casinos extended their momentum in January, opening 2021 with more than\u00a0$600 million\u00a0in monthly sports wagers for the first time while setting a fresh record for online casino revenue. 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With the hot start,\u00a0Pennsylvania&#8217;s\u00a0sportsbooks are on the path to bring nearly\u00a0$6 billion\u00a0in sports wagers in 2021 with the state&#8217;s online casinos capable of [&hellip;]","og_url":"https:\/\/gaming-awards.com\/NEWS\/pennsylvania-online-gambling-hits-record-january-2021\/","og_site_name":"iGaming Post","article_published_time":"2021-02-18T09:34:11+00:00","article_modified_time":"2021-02-18T09:35:10+00:00","og_image":[{"width":1024,"height":768,"url":"https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2014\/05\/Pennsylvania.jpg","type":"image\/jpeg"}],"author":"Debbie","twitter_card":"summary_large_image","twitter_creator":"@igamingpost","twitter_site":"@igamingpost","twitter_misc":{"Written by":"Debbie","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/gaming-awards.com\/NEWS\/pennsylvania-online-gambling-hits-record-january-2021\/#article","isPartOf":{"@id":"https:\/\/gaming-awards.com\/NEWS\/pennsylvania-online-gambling-hits-record-january-2021\/"},"author":{"name":"Debbie","@id":"https:\/\/gaming-awards.com\/NEWS\/#\/schema\/person\/ec908169f7d4e72f9d6188460253f623"},"headline":"Pennsylvania Online Gambling Hits Record January 2021","datePublished":"2021-02-18T09:34:11+00:00","dateModified":"2021-02-18T09:35:10+00:00","mainEntityOfPage":{"@id":"https:\/\/gaming-awards.com\/NEWS\/pennsylvania-online-gambling-hits-record-january-2021\/"},"wordCount":529,"publisher":{"@id":"https:\/\/gaming-awards.com\/NEWS\/#organization"},"image":{"@id":"https:\/\/gaming-awards.com\/NEWS\/pennsylvania-online-gambling-hits-record-january-2021\/#primaryimage"},"thumbnailUrl":"https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2014\/05\/Pennsylvania.jpg","articleSection":["Gaming","Headlines","Latest","N. 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