November Online Gambling Brings In Record Numbers

[Cpvr]

Record-Breaking November for Online Gaming and Sports Betting in Key States


November saw record-setting revenues in several leading online gaming states, with Pennsylvania, New Jersey, and Michigan posting impressive numbers. Here’s a detailed look at the month’s highlights.





Pennsylvania: A Milestone Month


Pennsylvania achieved a record $562.4 million in total gaming revenue in November, marking a 26% year-over-year increase, according to the Pennsylvania Gaming Control Board. Online casinos contributed $200.5 million, up 26.88% from $158 million in November 2023. iGaming category breakdowns included:


• Slots: $148.7 million (+36%)


• Table Games: $49.6 million (+6.7%)


• Poker: $2.3 million (-0.12%)





Sports betting also hit a record monthly handle of $935.5 million, edging out November 2023’s $934.1 million. Taxable sports betting revenue soared to $77.1 million, a 498% increase from $12.8 million in the previous year, with online wagers contributing $71.7 million. Total tax revenue across all gaming formats reached $232.8 million for the month.





New Jersey: Strong Growth Across Sectors





New Jersey’s nine casinos reported $223.9 million in November revenue, up 4.2% from $214.9 million in November 2023, according to the New Jersey Division of Gaming Enforcement. Online gaming continued its upward trend, generating $214 million (+24.7%) compared to $171.6 million last year.





Sports wagering also grew significantly, with November revenue totaling $119 million (+24.1%) compared to $95.9 million a year earlier. Year-to-date sports betting revenue reached $1.03 billion, a 15% jump from $897.2 million in 2023. Online poker saw growth as well, climbing to $2.3 million (+12.7%).





Overall, total November gaming revenue reached $556.9 million, a 15.4% increase from $482.4 million in November 2023. Year-to-date, total gaming revenue now stands at $5.78 billion, a 9.9% increase from $5.26 billion during the same period last year.





Michigan: New Highs for iGaming and Sports Betting





Michigan reported $284.3 million in combined online gaming and sports betting revenue in November, a 12.1% rise from October, according to the Michigan Gaming Control Board. iGaming revenue hit a record $226 million, surpassing October’s $220.7 million.



Sports betting also surged, with gross receipts of $58.3 million, up from $33 million the previous month. The total sports betting handle reached $650.2 million, a new record and a 16% increase from $560.4 million in October.



Adjusted gross receipts (AGR) for November totaled $240.4 million, including $203.3 million from iGaming and $37.1 million from sports betting. Compared to November 2023, iGaming AGR grew 28.9%, while sports betting AGR rose by $36.8 million.



Online operators contributed $44.4 million in taxes to the state in November, with tribal gaming groups making an additional $5.2 million in payments to local governments.



November showcased the continued growth and resilience of the online gaming and sports betting sectors, with Pennsylvania, New Jersey, and Michigan leading the charge. As more states embrace these platforms, the industry’s upward trajectory shows no signs of slowing down.

Source: https://www.cardplayer.com/poker-news/29659-november-online-gambling-brings-in-record-numbers

 

[SJackson66]

It’s pretty amazing to see online gambling continue to break records, especially in states like Pennsylvania. I’ve been keeping an eye on the numbers too, and it's clear that things are only getting bigger. I think it’s interesting how online casinos and sports betting are really taking off. On a related note, I’ve been exploring some EU casinos that accept UK players in 2024. It's been a bit tricky since the market’s changed, but I found a good list of options that offer a solid experience for players from the UK. You can check it out here if you’re curious: https://non-ukcasinos.com. Definitely worth exploring if you're into some variety!

 

[uptrendfinancialsignal]

That's indeed an exciting news! The evidence given as suggested that online gaming and sports betting are becoming more popular. This is evidenced by record breaking revenues from the likes of Pennsylvania, New Jersey and Michigan for their online gaming products.

 

[Nomad]

If someone is earning a lot of casinos means, someone is also losing lot. Sadly, most of the times people who lose at casinos are middle class people who cannot actually afford to lose. BY the way, how much tax do the casinos pay in the US?