Pennsylvania’s Online Poker Market Revenue up 35% in March
- New poker sites are the main contributors to the growth
- WSOP PA’s March revenue has surpassed that of WSOP NJ
- PA’s addition to the MSIGA will ensure sustainable growth for the industry
March was a huge month for Pennsylvania’s online poker market. Based on the latest figures released by the Pennsylvania Gaming Control Board (PGCB), online poker revenue stood at $3.24 million last month, a year-over-year increase of 35%.
The growth is attributed mainly to the launch of new sites in 2021.
WSOP PA Surpasses NJ Site
WSOP PA, which went live in July 2021, was the best performer of the pack, enjoying growth for the fifth month in a row. In March, it posted $919,000 in revenue, an all-time record for the site. The brand’s market share has also gone up to 28%. What’s more interesting is that WSOP PA has now outpaced its New Jersey counterpart which has been in operation since 2013.
BetMGM and Borgata, both of which are running under the partypoker US network and have a merged player pool, generated $381,227 in combined revenue, with a market share of 12%. Both sites have been active in the Keystone State for nearly a year now but have yet to see a significant rise in their revenue.
Meanwhile, PokerStars PA remains the dominant site, claiming 60% of the market. However, its revenue dipped 19% year-over-year to $1.84 million in March. In February, the site also suffered a year-over-year decline of 35%, it’s lowest since its launch in 2019. The long outage that affected the entire PokerStars USA network in February proved to be a major contributing factor to the drop in revenue.
Revenue figures for the first quarter of 2022 also show that Pennsylvania’s online poker market has gotten bigger following the addition of the two new networks – WSOP PA and BetMGM Poker PA/Borgata Poker PA. Overall revenue for the market from January to February this year stood at $9,511,413, up from the $7,647,450 generated during the same period in 2021 when PokerStars PA was still enjoying an online poker monopoly.
Pennsylvania Should Join MSIGA
Pennsylvania’s online poker market is currently doing well but for it to sustain its growth, the state should consider joining the Multi-State Internet Gaming Agreement (MSIGA). At the moment, the interstate compact is comprised of three states – New Jersey, Nevada, and Delaware. Michigan is expected to become officially part of the deal in the weeks or months ahead.
With the potential addition of Pennsylvania, MSIGA is poised to cover 36 million people across all five states which is a massive boost for the industry.