Last year, Pennsylvania passed a gambling reform package whereby the state’s gambling industry would undergo major expansion. One of the sectors which saw legalization was sports betting. In November this year, the Hollywood Casino at Penn National Race Course became the first to start offering sports wagering in the newly regulated industry.
Last week, the Pennsylvania Gaming Control Board posted its first report which covers November 15th to November 30th. The regulator’s aim is to issue monthly reports on the sector. The November report only takes into account revenue brought in by Hollywood Casino since it was the only facility to offer sports wagering during that period. This month, another two facilities, the SugarHouse Casino in Philadelphia and the Rivers Casino in Pittsburgh, also started offering sports wagers and their numbers will be included in next month’s report.
So how did sports betting fare according to the numbers released in Pennsylvania’s debut report on the sector?
- It was shown that Hollywood Casino handled $1,414,596.55 in sports wagers during the 16-day period.
- After payouts were made by the casino, the adjusted gross was just over $508,000.
- Sports betting brought in $183,000 in taxes for the state (calculated at 34% of the adjusted gross income).
Since the inception of Pennsylvania’s gambling expansion legislation, the state has recorded a total of $400 million that was funneled to state coffers from the industry .
