Pennsylvania Tests Online Sports Betting
Pennsylvania is reaping the legalization of sports betting. In May, sportsbooks earned $2.9 million. Also, the state saw what it can earn from online sports betting. In just three days of testing, SugarHouse Casino got more than $570,000 in online sports bets. As a result, the casino earned $39,000.
The eight legal sportsbooks in Pennsylvania handled $36 million in bets in May. That amounted to more than $1 million in taxes. At present, the tax rate for sports betting is 36 percent, where the state takes 34 percent and the remaining goes to the communities. Reviews of bookie pay per head do note that the state doesn’t give license to independent operators.
Rivers Casino and SugarHouse both processed more than $7.9 million each. Although Rivers Casino is the top sportsbook in the state in terms of handles, SugarHouse earned more. The latter earned $711,000, compared to Rivers Casino’s $641,000.
More Tests for Online Sports Betting
At present, SugarHouse is the only sportsbook in the state with an online presence. However, gambling news reports state that more operators will test their own online sports betting platforms soon.
This is good news for players because they will have more online choices. Also, it is a win-win situation for the casinos because it will help improve their revenue. Pennsylvania should look at New Jersey’s numbers. In fact, 80 percent of NJ’s sports wagering revenues came from online betting.
Also, SugarHouse had a successful online sports betting test. In regular days, its average handle was $237,000. During the trial, the online sportsbook had an average handle of $191,000, considering there was no app for iOS users.
It should be noted that the PGCB approved more licenses. However, the state still requires operators to be tied with an existing casino in the state. That means you need to sign a deal first with a casino if you want to be a bookie in Pennsylvania.
