Bet365, the world-renowned gaming company, achieved a major milestone with the formal authorization it received from the Pennsylvania Gaming Control Board to provide online sports betting and iGaming in Pennsylvania. This license solidifies Bet365’s position in the competitive online gambling industry by broadening its U.S. footprint to eleven states.
Bet365 successfully started its soft launch in Pennsylvania on Tuesday, July 16, with operations running from midday to 8 p.m. On the days that followed, hours were further extended, with Wednesday seeing activities until 10 p.m. and Thursday, July 18, seeing operations until midnight. A detailed assessment of Bet365’s systems throughout this staged deployment allowed for a smooth transition to full operations.
Although Bet365 has successfully navigated all regulatory requirements, the exact date of its full debut has not been announced. Comments about the schedule were still unavailable as of the end of the previous work week.
Since its 2019 debut, the U.K. gaming giant has further established itself in the North American market. The firm has built up a substantial 5.7% market share in New Jersey, rivaling local giant BetMGM, because of its partnership with Hard Rock Hotel & Casino Atlantic City. Further evidence of bet365’s growing impact in the area is the company’s smooth evolution from a dominant player in the gray market to a key participant in Ontario’s regulated sector.
A Very Lucrative Market
The gambling industry in Pennsylvania reached a new peak in tax income for the fiscal year 2023–2024, contributing a record $2.54 billion. Slot machines, table games, iGaming, sports betting, VGTs, and fantasy sports tournaments all contributed to the more than $5.89 billion brought in by Pennsylvania’s gambling industry, according to the Pennsylvania Gaming Control Board (PGCB). The previous fiscal year’s total was $5.5 billion, so this is quite an accomplishment.
The state surpassed $7 billion in lifetime iGaming income, thanks to June’s online casino revenue of $195.6 million. Gross revenue (GGR) from iGaming sites in Pennsylvania exceeded $1.26 billion in the first half of 2024, putting them in first place nationally.
Taxes go toward a variety of state programs, such as reducing property taxes on owners’ principal residences for school purposes, funding projects for economic development, safety, and recreation at the state, county, and municipal levels; bolstering the agricultural sector through promoting horse racing; and depositing funds into the Commonwealth’s General Fund.
These astounding numbers highlight the robustness and substantial economic impact of Pennsylvania’s gaming sector. Pennsylvania is well-positioned to continue its dominance in the national gaming industry, thanks to its smart expansions into other gaming industries and uninterrupted growth in iGaming. It is not surprising that more operators are looking to venture into the space.