Nevada is considered America’s entertainment capital by most standards, with Las Vegas mainly contributing to this reputation. While there are other attractive gambling destinations across the United States, Las Vegas is one of the most popular hotspots, especially for tourists. In 2022, Nevada set a new annual record of $14.8 billion in gaming revenue, a 10.5% increase from the previous $13.4 billion record in 2021. The Las Vegas Strip also set a record for the largest monthly revenue in December 2022 at $814 million, climbing 25% from December 2021.
Nevada is likely to continue setting interesting records if the state maintains its position as a number one destination for tourists. Nevertheless, players should watch out for Pennsylvania as it could also become one of America’s top destinations if its current performance continues.
Gambling in Pennsylvania
Philadelphia, Pennsylvania’s most populous city, is another top American destination for gamblers. Since launching its first casino back in 2007, the city is now popular for gambling tournaments across several major casinos. Additionally, Pennsylvania is making a name for itself in the online gambling industry. The state officially legalized online casinos in 2017 and launched the first one in 2019.
It has been documented that the casinos in Pennsylvania raked in a total of $5.21 billion in 2022. This was a 10.14% jump from 2021’s $4.73 billion. For iGaming sites alone, Pennsylvania generated $1.36 billion, up 22.6% from 2021.
Since launching the first online gaming platform, data from the state’s gaming regulator has shown a consistent increase in iGaming revenue. Pennsylvania rose from $33.6 million in 2019 to $565.7 million in 2020, and $1.1 billion in 2021.
There are several reasons why the gambling industry in Pennsylvania is vibrant. Firstly, the state has a healthy gambling culture, with estimates suggesting that 10% of all resident adults have gambled at least once in the past year.
Secondly, the laws governing online gaming in Pennsylvania are very straightforward. Unlike in some states where legislation is ambiguous, all parties know what to expect and understand their responsibilities. The regulatory clarity helps improve the state’s iGaming reputation and generate increasing revenue as the sector expands.
Could PA Overtake Nevada?
Although it might take Pennsylvania a while to pull Nevada’s numbers, the Keystone State is well on its way. The state already has a healthy dose of competition among existing iGaming platforms, which serves as an organic method for checks and balances. This is because each platform must put its best foot forward by offering the best bonuses, designing an appealing user experience, and ensuring that their casino runs as smoothly as possible to avoid losing existing or potential customers.
The growth in Pennsylvania’s online gambling sector shows how well the state’s iGaming market is performing even though the first online casino launched less than 5 years ago. Considering Nevada’s 6-year head start with launching an iGaming platform, it is safe to conclude that Pennsylvania’s performance is already impressive in comparison.