Many people were obliged to stay at home once COVID-19 happened. For gamblers, this meant that online casinos were their sole option for playing casino games. However, since casinos reopened in Pennsylvania, the numbers revealed that many players prefer internet gambling over visiting brick-and-mortar casinos, which is the indicator that the sector may be shifting.
The rise of the online gambling sector in Pennsylvania
According to Deutsche Bank, GGR (the gross gaming revenue) of Pennsylvania’s 12 casinos fluctuated between March and May. The GGR dropped by 12% in March, then increased by 1% in April, and then dropped by another 3% in May. Furthermore, if the two new casinos that opened in 2019 are excluded from the list, and the GGR from the original 12 casinos in 2019 and 2021 is compared by their monthly peaks, it can be seen that in 2021, March’s GGR dropped by 22%, April’s GGR dropped by 10%, and May’s GGR dropped by 12%. What’s even more intriguing about the gambling sector in the state is that, because of online casinos, the sector in Pennsylvania is actually growing.
The impact of online casinos
Due to the fact that the majority of individuals in Pennsylvania were forced to stay at home due to the pandemic, casino lovers began to turn to internet casinos to play their favorite games. According to Deutsche Bank’s Carlo Santarelli, online casinos provide far more than just the strategic benefit for players as they are able to access games at any time and from any location.
Additionally, he added that the gambling industry is a nice sector to invest in since it offers a bunch of benefits, which Pennsylvanians have already seen by themselves. That is why the state has seen a surge in the number of online gambling destinations. Betway has also broken into the industry, and it now provides citizens with a variety of sportsbook and casino services.
What does the future hold?
Santarelli also mentioned that brick-and-mortar casinos have seen a significant reduction in popularity, allowing online casinos to flourish in Pennsylvania. This could be a step forward and encourage other places in the country to allow online gambling.
Online gambling is currently permitted in West Virginia, Michigan, New Jersey, Pennsylvania, and Delaware. Connecticut is likewise on the waitlist, awaiting federal approval. There’s no doubting that online casinos have seen a significant rise in popularity in the last few years.
It is important to note that many businesses in Pennsylvania, the United States, and around the world were affected by the pandemic, but the iGaming industry thrived and set new revenue records which is no surprise at all.