Casinos Beat Sportsbooks Two-To-One In Online Channel Revenue
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In states with both legal iGaming and online sports betting, the former is king. This March, i gaming brought in more than $300 million for Michigan, New Jersey, Pennsylvania and West Virginia. Online Poker Report predicts that online casinos will become the dominant force in those states as well.
Michigan and Pennsylvania's iGaming revenue was 75% or nearly three times that of their sports wagering revenue. Pennsylvania showed the largest difference between online casino revenue and online sports betting revenue, which brought in $38 million. New Jersey's online casinos pulled in almost twice as much as sportsbooks. West Virginia's sports gambling industry also had a considerable head start. In March, WV's eGaming revenues were 1.5 times the sports.
Casinos Beat Sportsbooks Two-To-One In Online Channel Revenue. New Jersey's total gaming revenue in March 2021 was $359 million. Online gambling will probably never replace retail casinos. Operators like BetMGM and WynnBet are relying on the reputation of their retail casino brands to draw customers to their apps.
The pandemic affected the online gambling during the period from mid-March to the end of April. Online casino revenue brought in 96% of the combined revenue for the four states. States with only retail options saw their gaming tax revenue drop to near zero. New Jersey saw its total revenue down about one-quarter year-over-year.
