Pennsylvania Leads the USA in Online Casino Revenue Despite the Slump in April
In April, Pennsylvania’s online and land-based sports bookmakers have fallen to $575m. This is 20% less than in March.
However, this revenue is still up 19% from last year. In April, slumps usually happen. The reason is the end of March Madness (the basketball tournament held by the NCAA) which is popular among sports bettors.
Bookmakers still had an impressive income despite this slump. Their earnings are $49.1m in gross revenue, up 36% from last year and 1% up on March 2022.
Almost 94% of April’s earnings were made on the Internet. FanDuel led the online betting market with $226.6m and reached a gross profit of $28.4m.
Online casinos and poker rooms continue to prosper in Pennsylvania. This state now leads all US markets with gross revenue of $138m in April.
Pennsylvania just fell short of the all-time gross receipt record for the industry in the USA by $2.7m. Still, the state’s result is its second-highest revenue for online casinos and poker.
These numbers show a 31% growth from last year. April’s average daily revenue hit $4.6m. The taxable income accrued by online operators is $113.1m. It yielded $47.2m in taxes.