Skyrocketing iGaming Revenues in Pennsylvania Over December

Pennsylvania’s iGaming revenues hit $223.6M for December, a new record high to cap off a record year.

Online casinos are fast becoming Pennsylvania’s favourite way to game online, with surging revenues making up for a relatively weak December month among other gambling sectors. With record revenues coming in at $223.6M for the month, up 11% over November and 35.5% year-on-year, the online casino industry continues to thrive. All this growth is the cherry on top of an amazing year for iGaming overall within the state.

With a record-breaking performance in December, the Keystone State‘s iGaming sector showcased its dominance in the U.S. online gambling market. This can be greatly attributed to increased player engagement, attractive game offerings, and competitive promotions that draw a huge player base. The state’s established regulatory framework further solidifies Pennsylvania as a leading iGaming destination.

For keen gamblers, it’s worth taking a look at the NDFan page specializing in the US jurisdiction. It provides tons of no deposit bonus codes, and upon browsing through its various site pages, one will find valuable insights into market trends, player preferences, and the regulatory environment shaping the industry.

A Record Month to Close Out a Bumper Year for iGaming

The Pennsylvania Gaming Control Board oversees all gambling operations within the state, including retail slots, retail tables, video gaming terminals, sports wagering, iGaming slots, iGaming tables, iGaming poker, and fantasy contests. The Board is also the reporting body for the industry, publishing a monthly synopsis of the statistics across all the sectors it oversees.

In December 2024, iGaming hit a record high of $223,652,312 in revenues, up from November’s previous record of $200,490,599. For the year, the sectors showing huge growth were iGaming slots, up 40.54% to $164M, and iGaming tables, up 24.4% to $21M. Fantasy Contests came in with a modest third-place growth factor of 9.68% to $2.5M. While retail slots still hold the total of the highest revenues for the month, at $202M, this sector saw a drop in revenues, down 2.74% year on year.

A Big Year For iGaming

This pattern is reflected in trends across the country and worldwide, as players flock to newly launched online casinos in newly legal markets. Pennsylvania is among one of the most mature markets in the US for online casinos, as other states continue to play catch up. iGaming has been legalized and tracked by the Pennsylvania Gaming Control Board since 2019. 

With a thriving industry comes more scrutiny and regulation, as governments seek to ensure player protection while enjoying the benefits of the increased revenues on the taxes for the state’s accounts.

Across 2024, the entire gambling industry in Pennsylvania hit a record high of $6.1B in revenues, more than double that of ten years ago. Although the rise across the whole of the industry since 2023 is minimal, iGaming is surging.

In 2024, iGaming revenues climbed to $2.2B for the year, which was up by more than 25% over the previous year. Considering the number of iGaming operators licensed within the jurisdiction (not very many), this means considerable profits for these entities.

Steep Fees Are a Barrier to Market Entry

Currently, iGaming certificate holder fees run at $4-12M for the first five years. Interactive gaming operators face a similar $1M fee. Manufacturers and suppliers have a much lower barrier to entry in the market, with their fees only coming in at $10,000. What this all adds up to is a very difficult market to enter. It’s only cash-flush entities that can buy their way into the system. For smaller companies, the risk might be too high to meet the strict demands of service, or they may just not be able to come up with the money to play.

This is why you’ll find BetMGM and Betfair on the short list of registered iGaming operators for the state. These companies are large and have a long track record of success in other iGaming markets already. These companies not only are ready with the type of structure to thrive in new markets, even when the barrier to entry is high but have a low level of risk attached to market entry and a high chance of making significant revenues.

With a smaller number of companies now gaining a larger slice of the pie, you can bet that we will see more entities trying to get in on the hot action that’s happening in Pennsylvania. Companies with existing market presence, especially those that are already operating in other US states, are likely to be drawing up plans and crunching the numbers to see if and when they can launch in Pennsylvania. As iGaming continues to rise, there is no stopping this juggernaut gaming experience – and customers and providers alike are lapping up the rewards of this growth.