Online gaming report: Big jumps in sales recorded in November

Legalized US states saw significant online gambling revenue growth in November, although online poker remained somewhat stagnant. A big highlight was a new iGaming record in Michigan.

Pennsylvania and New Jersey also saw big jumps in iGaming sales. On the other hand, sports betting saw significant declines in some states. Here are a few insights into the November numbers.

Pennsylvania

The Pennsylvania Gaming Control Board (PGCB) reported total revenue of $444.5 million from all forms of gambling in November, a decrease of 1.7% from November 2022. Online gaming operators generated $158 million, an increase of 22.8% from 128 .6 million last November. Of this, $109.3 million came from online slots and $46.4 million from table games

Online poker recorded $2.3 million, the same number as October and a decrease of about $240,000 compared to November 2022.

Total sports betting revenue reached $934.1 million, a new monthly record and an increase of 18.4% from $789.2 million in November 2022. However, taxable revenue was only $12.9 million , down 75.6% from $52.9 million last year. The PGCB reported that the large decline was due to significant non-taxable advertising bets from the recently launched ESPNBet, as well as a low hold percentage that benefited bettors. Retail bets totaled $2.6 million and online bets totaled $10.3 million.

New Jersey

The New Jersey Division of Gaming Enforcement reported that the state’s nine casinos generated total gaming revenue of $214.9 million, up 0.2% from $214.5 million in November 2022. Year-to-date revenue reached $2.6 billion, an increase of 1.8% from $2.6 billion in 2022.

iGaming revenue reached $171.6 million, up 17.4% from $146.2 million in November 2022. Year to date, online gaming accounted for $1.7 billion, an increase of 15.4% from $1.5 billion in 2022. Online poker was flat from 2022 at $2.1 million.

Gross sports betting revenue increased 19.2% to $95.9 million compared to $80.4 million in 2022. This represents $897.2 million year to date, an increase of 32, 9% from $675.3 million in 2022.

Total live gaming revenue was $482.4 million, up 9.4% from $441.1 million in 2022 – and $5.3 billion year to date, a Up 10.5% from $4.8 billion last year.

Michigan

Operators reported $209.2 million in gross online gambling and sports betting revenue in the Wolverine State in November. That’s an increase of 1.9% compared to October. In November, iGaming set a new record of $175.3 million, up from the previous high of $171.8 million in March.

Gross revenue from online sports betting was $33.9 million. Combined iGaming and online sports betting adjusted gross revenue (EGR) reached $158.1 million, including $157.8 million from iGaming, but only $294,810 from online sports. Online casinos increased 9.4% compared to October, while sports fell 98.7%.

Compared to November 2022, online casino EGR increased by 20.5% while sports fell by a whopping 98.9%. Total online betting transactions reached a new record of $568.8 million, up 6.7% from $533 million in October. The launch of ESPNBet may also have played a role in these declines. Michigan includes online poker as part of overall online gambling statistics.

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