Pennsylvania Sports Betting Expected to Peak Next Year Around $8 Billion Annual Handle

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This year could be the last where the sports betting market in Pennsylvania records major growth, as it is expected to plateau close to $8 billion annually in 2023, writes Chris Imperiale for PlayPennsylvania.

Currently, the Keystone State is seeing a healthy boost in betting volume spurred on by the best NFL start for sportsbooks yet. However, the future forecast is looking less bright.

PlayPennsylvania projections for next year show a year-over-year increase of under 3 percent for Pennsylvania sports betting handle and revenue. This forecast indicates a $7.65 billion figure for 2023 with revenue projected to be around $609 million.

But while multiple factors need to be considered, the main cause of the decline in growth is that the Pennsylvania market is now mature.

This means that it is not growing in any meaningful way due to the minimal number of new sportsbook operators launching in the state. When this is combined with the multiple new markets that recently went live in the region or are preparing to launch operations that could eat into the state’s sports betting volume, Pennsylvania sportsbooks look poised to plateau.

These results are expected from mature markets but in this case, it is happening more quickly.

Read more about sports betting in PlayPennsylvania.

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