With the gambling industry on the rise in the United States, thanks to new legislation being approved in various states around the country, the Pennsylvania gambling market is projected to reach new highs in 2022, according to industry specialists and analysts.
As of January 2022, over twenty states have legalized at least sports betting, and all but five are currently operating, with some states even approving some form of online gambling. States like Nevada, New Jersey, Michigan, and Pennsylvania have recorded large profits, and according to data from the American Gaming Association, in 2021, the US gambling industry accounted for more than $44 billion in total revenue, in what became the highest-grossing year in the history of legal gambling.
As a result of the COVID-19 pandemic, land-based gambling facilities were forced to halt operations, and online gambling, or iGaming, became the sole choice for American bettors. Even though online gambling already represented a large share of wagers in 2019, lockdowns, health protocols, and social distancing measures in place made the discrepancy become even more accentuated in 2020 and 2021, with states that legalized online betting performing far better.