While sports betting revenue was down, operators’ $267.6 million earned from retail slots and table games was 1.1% more than a year ago and $158 million from Pennsylvania online casinos was 22.9% more than in the prior November. The gaming board noted that was from a combination of both the operators’ relatively low 5.3% hold rate from bets and the arrival on the sports betting scene of PENN Entertainment’s ESPN BET with an introductory offer that involved giving away $14.8 million in promotional credits, which are not taxable by the state. While Pennsylvania saw a record $934.1 million wagered on sports in November, the taxable revenue retained by sportsbook operators amounted to just $12.9 million, compared to $52.9 million in November 2022. Unlike the house advantage that is predictably consistent in traditional casino games, the amount retained by operators from sports bettors can fluctuate widely each month based on how well customers do in wagering on events. The culprit, in this case, was sports betting. It was the first time since February 2021 that the state’s industry experienced a year-over-year loss in any month. While the commercial retail and digital operators combined for a healthy $444.5 million in revenue last month, that was 1.7% less than in November 2022, as well as 8% less than in October. That is not, however, what occurred in November, according to data released Tuesday by the Pennsylvania Gaming Control Board. With the recent years’ explosion of interest in online gambling - whether on casino games or sports betting - it has been common for the Pennsylvania gaming industry each month to surpass what it achieved in revenue in the year prior. Caesars Palace Online Casino Bonus Code.

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