Betway is ready to add Pennsylvania to its growing US portfolio. It only has to pass what should be a simple test before it can declare victory, and that test is now underway. If everything goes well, the company will bring an online sportsbook and an iGaming platform to the Keystone State, ready to take a piece of the action in a very strong market.
Betway Makes Way For Pennsylvania Launch
In order to step into Pennsylvania, Betway has teamed up with Cordish Gaming Group, still bitter after losing a chance to build a casino in Norfolk, VA. The European operator, which was given a provisional license from the Pennsylvania Gaming Control Board (PGCB) this past May, can be found at Live! Philadelphia, owned by Cordish, and launched a trial period yesterday. The PGCB is monitoring the real-money sports gambling and iGaming operations for the three-day test, after which it will issue its final verdict.
The test period runs periodically on each of the three days. Yesterday, it ran from 1-9 PM and today, it will run from 11 AM to 9 PM. Tomorrow will see a longer test, running from 9 AM to 9 PM. If everything goes well, Betway could receive its final score on Thursday and open its virtual doors to customers the same day. Should that happen, Pennsylvania will have 13 online sportsbooks and 17 online casinos.
It’s All in the Cards
If things don’t go well for Betway in Pennsylvania, which isn’t likely, it won’t have to ship off back across the pond. The company is now entrenched in the US gambling market, having secured deals with NHL and NBA teams, the NHL itself, eSports groups and more. It has also gone public, which it accomplished through an arrangement between its parent company, Super Group, and a special purpose acquisition company, Sports Entertainment Acquisition Corp. The two companies merged in April, paving the way for the public launch.
In addition to targeting Pennsylvania, Betway is already established elsewhere in the country. It has operations in Colorado and Indiana, with other markets being massaged and prepped for entry. It isn’t interested only in the US market, though, and still has significant involvement in the European market. It is a sponsor of the Bundesliga’s FC Schalke 04 in Germany and of the Nordea Open in Sweden.
Pennsylvania a Strong Market for Operators
Pennsylvania has a robust online gaming market, despite initial concerns that fees might drive operators away. The state has continued to produce strong results, with record revenue being reported. After starting 2021 at $80.4 million, around $9 million more than a month earlier, online gaming revenue has continued to grow, even though it took a dip in April after major sports events had concluded for the first quarter.
According to the latest figures provided by the PGCB, May’s online casino revenue reached $98.6 million. This was a slight increase from the $90.3 million a month earlier. By way of comparison, Pennsylvania’s online gaming market is proving much more lucrative than the retail market and is seeing greater growth than its rival, as well. Total retail gaming revenue last month was just $4.7 million, virtually unchanged from a month earlier.