As reported by PlayPennsylvania, on June 20, the Pennsylvania Gaming Control Board (PGCB) officially uveiled the profit figures for Pennsylvania online casinos for May, which showed that online casino operators in Pennsylvania accumulated $170.4 million in May revenue. However, this income was ranked as the second-best online casino revenue total in the state’s history.
Best online casino market in USA:
Pennsylvania saw revenue in excess of $160 million for the sixth consecutive month, and for the the second time in three months the state topped $170 million, confirming Pennsylvania’s position as the leading market for online casinos in the US. Additionally, it has broken US iGaming records in four of the last eight months. However, in the other 4 months, it did not break the record, but the revenue figure reached the second highest total amount.
In this regard, PlayPennsylvania Managing Editor, Chris Imperiale, said: “Pennsylvania online casinos totaled $170.4 million in gross revenue in May. This marks the sixth consecutive month with more than $160 million in earnings, reaffirming Pennsylvania’s position as the top market for online casinos within the US, beating out other notable states like Michigan and New Jersey. May finished about $11 million shy of the all-time revenue record, but increased figures almost 25% year over year. It’s possible that the slower sports betting period we’re currently in could drive even more online casino gaming and revenue going forward. Since October, Pennsylvania has broken the US online casino revenue record four times.”
May 2023 Revenue Overview:
During the revenue analysis, online slots generated the highest income at $130 million. The second best is table games income of $37.9 million, followed by online poker income of $2.5 million.
However, this is nothing new as online casinos in Pennsylvania reported a decent income as of October 2022. In this sense, the profit was:
- October 2022: $151.7 million (US iGaming record)
- November 2022: $155.9 million (US iGaming record)
- December 2022: $166.9 million (US iGaming record)
- January 2023: $160.3 million
- February 2023: $162.3 million
- March 2023: $181.5 million (US iGaming record)
- April 2023: $167.2 million
- May 2023: $170.4 million
Additionally, to take a deeper look at Pennsylvania’s online casino profit growth, PA operators accumulated just $136.8 million in profit last May, increasing earnings by 24.6% this May.
Online casino profit stronger than sports wagering:
However, online casino income in Pennsylvania is much stronger than sports wagering. In a down month for PA sportsbooks, online operators accumulated $14.8 million in taxes compared to $53.7 million from online casinos. In addition, online casinos are required to pay nearly $50 million or more in taxes to the government every month.
The legal status of online casinos in India is complex and varies by state. While there is no federal law that explicitly addresses online gambling, the legality depends on state regulations and the type of gambling involved.
Key Points:
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No National Law: India does not have a specific national law regulating online casinos. However, the Public Gambling Act of 1867 prohibits operating physical casinos and gambling houses, but it doesn't cover online platforms, leaving a legal grey area for online gambling.
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State-Specific Laws: Some Indian states, like Goa, Sikkim, and Daman, have legalized land-based casinos, and others, such as Sikkim, have also licensed online gambling. Many states have banned gambling altogether, including online gambling.
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Online Sports Betting: Betting on sports, particularly cricket, is very popular in India. However, it's only explicitly legal in some states like Sikkim and Nagaland, which have laws permitting online gaming and betting.
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Legal Gray Area: Many international online casinos accept Indian players and operate legally under licenses from offshore jurisdictions (like Curacao or the UK Gambling Commission). As long as players are gambling on licensed platforms, the risk is minimal, but local authorities may still choose to regulate or restrict online gambling.
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Cryptocurrency: Some Indian players prefer using cryptocurrencies (like Bitcoin) for online gambling, as it provides a layer of anonymity and security.
While online casinos aren't explicitly legal across all of India, many international casinos accept Indian players, and online gambling continues to grow in popularity. Players should ensure they use licensed platforms and understand local laws before engaging in online gaming.
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