Pennsylvania’s Betting Market Is on Fire
PA Saw Significant Increases in Betting Revenue Across All Forms of Gambling
Insane Numbers!
The Pennsylvania betting market is experiencing unprecedented growth. According to betting news, in May 2024, the Pennsylvania Gaming Control Board reported a total revenue of $521 million from all forms of gambling, marking an impressive 8.7% increase compared to May 2023. This surge indicates that Pennsylvanians are enthusiastically embracing gambling, particularly online betting.
However, with this growth comes the need for responsible practices, prompting legislative action to ensure the well-being of vulnerable individuals. Pennsylvania Senator Wayne Fontana has introduced Senate Bill 1211, aiming to prevent gambling companies from targeting those on the state’s self-exclusion list with direct advertisements.
Casino and Online Gaming Growth
The revenue figures from May 2024 highlight significant growth across various segments of the gambling industry in Pennsylvania. For instance, Hollywood Casino at Penn National in Grantsville led the way with gaming revenue of $81.6 million, a 9.8% increase compared to May 2023. Following closely was Valley Forge Casino Resort, which saw a remarkable 23.9% increase, bringing in $79.6 million.
Casino win across the state was $239.1 million in May 2024, up 5.2% from the previous year. Notably, Valley Forge Casino Resort experienced a staggering 50.3% increase in internet gaming revenue, totaling $44.4 million. Similarly, Hollywood Casino at Penn National reported $65.1 million in igaming revenue, reflecting an 11.6% increase. These numbers underscore the growing preference for betting online, which continues to attract a significant portion of the market.
Sports betting remains a vital component of Pennsylvania’s gambling industry. Valley Forge Casino Resort generated sports betting revenue of $22.8 million from a handle of $244.6 million. Hollywood Casino at the Meadows followed with $10.9 million from a handle of $164.8 million.
Legislative Measures for Responsible Gambling
Amid the booming gambling market, Senator Wayne Fontana has introduced Senate Bill 1211 to enhance protections for individuals on the state’s self-exclusion list.
This legislation seeks to prevent gambling companies from directly targeting these individuals with advertisements, promotions, and bonuses. The bill reflects a growing awareness of the need to support the 19,678 individuals in the state who have already chosen to self-exclude from gambling activities.
Senate Bill 1211 mandates that gambling entities refrain from sending direct marketing materials to individuals on the self-exclusion list. Companies are required to update the self-exclusion list every 48 hours to ensure compliance.
Failure to adhere to these regulations will result in criminal penalties, with fines ranging from $150,000 to $1.2 million, depending on the nature and frequency of the violations.
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