Pennsylvania’s sports betting evolution continues with bet365 arrival

Article by : Charles Perrin Jul 23, 2024

• 
• 

Pennsylvania has become the latest state to welcome bet365 with open arms as it continues its sports betting evolution.

After undergoing a soft launch test period last week, bet365 has satisfied all the rigors and checks that have been put in place by the Pennsylvania Gaming Control Board (PGCB), and it is now free to operate in the Keystone State.

More significantly, Pennsylvania now has 12 sportsbooks conducting business in the state, and bet365 is the first brand to be given the green light in six months after Fanatics made the switch from PointsBet back in January.

Apart from being replete with a slate of sports betting options, including same-game parlays and bet boosts, bet365 doubles up as a casino operator with a myriad of slots and table games to keep players entertained.

Although there are pressing challenges ahead for bet365, Pennsylvania is a thriving iGaming market.

Recent results showed that iCasino outpaced sports betting, with revenue climbing over 27% to $1.95 billion for the Fiscal Year 2022-23.

Nevertheless, mobile sports betting contributed a total of $436.7 million in bets, and by size, PA is the second-most populous state offering sports betting.

The undoubted UK market leader, bet365 first made inroads into the US when it entered New Jersey in 2019.

Currently, bet365 operates in a slew of states, and its foray into PA represented the company’s fourth state launch in the past seven months after setting up shop in Louisiana, Indiana, and North Carolina.

So far, it has enjoyed success, and it is one of the top-three performing operators in Ohio.

While the tax rates imposed in PA for online sports betting operators is steep (34%), bet365 won’t see this as a barrier to success, and it will look to crush all obstacles placed in its way.