Why has sports betting in Pennsylvania been so successful?
Since sports betting through online and retail mediums was legalized in Pennsylvania in 2019, the industry has gone from strength to strength. The top betting sites on the market have provided outstanding service to residents of the Keystone State. Uptake in wagering has resulted in record-breaking statistics in terms of participation and bets made. The value of those wages reached up to $776.2 million in October 2021 alone, taking its overall sports betting handle up to $10 billion since operations began almost three years ago.
Revenue declined slightly in October 2021, although betting sites are still recording healthy profits in the tens of millions. Pennsylvania sports betting will only continue to expand and grow, which will see those numbers continue to rise for the number of wagers placed, while the revenue for the state and betting sites should also increase. The records broken in 2021 will no doubt be superseded in 2022, and there are several reasons why that will be the case.
Having a quality product makes all the difference between success and failure, and it is no surprise that residents of the Keystone State have access to several top operators in the industry. At Betting.us, the best PA betting sites are highlighted with their respective bonuses and features, and residents of Pennsylvania have no shortage of great options at their fingertips.
Operators such as DraftKings and FanDuel have thrived in Pennsylvania with their sports betting products, providing a diverse range of markets for their customers along with great value on their odds. DraftKings and FanDuel already had a foot in the region with their fantasy products and it has allowed their brands to capitalize once sports betting was legalized.
However, competition has arrived from BetMGM, FoxBet, Unibet, and Barstool Sportsbook. The fact that rivals are competing for business is good for Pennsylvania residents, ensuring that they are receiving optimum value across the market for odds and bonuses. The range of betting has also improved beyond the traditional sports in the United States. Bettors now have access to overseas markets where they can broaden their horizons by wagering on soccer, cricket, rugby, among other popular sports that are not common in the USA.
It has also pushed betting sites to offer new features such as same game parlays for customers along with live streaming to enhance the quality of their services. The standard of wagering sites in Pennsylvania has certainly played a significant part in sports betting’s success in the state.
The fact that Pennsylvania is one of the hotbeds of sport in the United States has aided the success of sports betting. Few states in the country contain as many professional sports teams as the Keystone State, and the diversity of their teams allows residents to bet the entire year-round. The Pittsburgh Steelers and the Philadelphia Eagles cater towards NFL betting needs, although wagering on the entire league is available from the start of the season in September until the end of the term in February. The Steelers and the Eagles are competitive more often than not, enjoying runs to the post-season. Both franchises are competitive in the NFL, which increases the prospect of fans betting on their respective teams.
The Philadelphia 76ers are the only NBA team in the state, and they have been up and down in recent history, with a greater emphasis on down. Fans of the Sixers have had their loyalty tested, although Joel Embiid has offered hope with his performances on the court. The Keystone State has two MLB teams with the Pittsburgh Pirates and Philadelphia Phillies. Arguably the most successful team from the state in recent times has been the Pittsburgh Penguins, who have won the NHL Stanley Cup on three occasions over the last 14 years. If that’s not enough, bettors in Pennsylvania residents can also wager on college sports across the country, including home-state teams Penn State and Pittsburgh.
Sports betting is only going to continue to grow in Pennsylvania and across the United States as further states ease their restrictions regarding wagering. There will be greater opportunities for bettors in the Keystone State to capitalize on the offers and markets available as the leading betting operators in the business expand and refine their products. The next year should be even more profitable for the industry as the practice becomes commonplace.