Summary: Sports betting continues to grow in Pennsylvania, as the Parx Casino prepares to launch their sportsbook this week.
Sports betting continues to grow in the United States, as individual states continue to pass legislation to legalize the new industry. Several states approved the option last year either before the Supreme Court ruling involving the Professional & Amateur Sports Protection Act or after the Act was struck down, ready to offer sports wagering services. Pennsylvania was one such state that approved the industry, with the Parx Casino set to begin offering services this week.
Four Operating Sportsbooks
With the launch of the Parx Casino sportsbook, the state will be home to a total of four operators offering land-based services. The Parx Casino is the market-leader, so all eyes are on the operator and how well they will fare with the new industry.
Last Friday, owner of the casino, Greenwood Gaming & Entertainment, announced that they would begin the soft launch of their land-based sportsbook beginning Tuesday at 2pm. A soft launch is mandatory for a 48-hour time frame before full wagering is allowed. The sportsbook will be powered by Kambi and full wagering should be offered by the provider by 1pm on Thursday, as long as the soft launch runs smoothly.
When the sportsbook opens at the Parx, the facility will be a smaller version offering only temporary space until the permanent sportsbook is completed. The temporary option is located in the former 360 bar and lounge. The permanent location should be ready by summer to be able to prepare any changes before the next NFL season begins at the end of the year.
Greenwood Gaming also operates another facility in the state of Pennsylvania. Owner of the South Philadelphia Turf Club, the operator has yet to state if they will be offering sports betting at the venue. Online gaming is also in the mix. The Gaming Control Board has not approved any online betting product and Parx has plans to get started online as well. The casino has stated that they will be offering a mobile betting application soon, but details of the new option have not been revealed.
The first sports betting facility opened in the state back in November via the Hollywood Casino at the Penn National Racecourse. The SugarHouse Casino along with the Rivers Casino began offering services once month later, in December.
Focus on Sports Betting
For the past few years, any changes to the gambling landscape have involved discussions that include online casino and poker gaming. However, the SCOTUS decision involving the PASPA quickly saw all eyes focused on sports betting. The industry has huge potential and states are already earning millions as players place their sports wagers day after day.
The Hollywood Casino was able to see a betting handle of $1.4 million with revenues over $500,000 within just two weeks of operations in November. The industry is set to be big business and the total number of revenues and bets placed will only continue to increase as more states get in on the action.
This year, several states have already either started discussions or legislation is set to be considered beginning this week. Tennessee, Missouri and South Dakota are just a few examples of states that are looking at sports betting as a new way to bring in revenues to the state. We will continue to monitor any changes and report any new legislation or efforts in the US involving sports betting as well as other changes in the gambling industry as a whole.