Philadelphia has emerged as the epicenter of sports betting expansion in the Keystone State, which legalized online casinos and betting operations in the last years. COVID-19 caused some panic in the gambling industry earlier in 2020, although online sports betting saw a marked increase once most sports disciplines resumed matches, albeit under different game conditions.
Sports betting in Pennsylvania as it stands
Currently, Pennsylvania has licensed some sports betting casinos, with operators like Parx Casino and Rivers Casinos dominating the brick-and-mortar market and making a substantial impact on online betting. Philadelphia is Pennsylvania’s best-known city, and the bustling metropolis hosts hundreds of thousands of tourists.
After the Supreme Court overturned legal precedent governing sports betting, some states moved to legalize it immediately, with Pennsylvania among them. Moving online means that casinos can reach more potential bettors than they could before.
Exciting developments
Barstool Sports recently announced its intention to roll out a Barstool Bets app in Philadelphia as part of the Penn National Sportsbook. This industry giant’s decision to put the City of Brotherly Love at the center of its proposed endeavors is a significant development.
Barstool Sports’ founder, Dave Portnoy, is excited about the launch and its potential impact on sports betting across America. Barstool Sports is creating a business model that many hot startups will be scrutinized with great interest, intending to follow it.
Another big player enters the game
Paul Martino is a sports betting investor who has big plans for making inroads into the Pennsylvania market using Philadelphia as a base of operations. Martino has an established track record. He invested in FanDuel when its worth was an estimated $8 million, and it is now valued at $25 million.
Center City, Philadelphia is where Martino is eying real estate to house his proposed operations. He plans to launch a new sports betting service called Bankroll. Martino expects Bankroll to offer sports bettors a high-quality, interactive, technologically advanced sports betting experience. He believes that the city and its residents will be highly receptive to his plans.
Unfortunately, this year’s coronavirus pandemic has put a dampener on Martino’s plans, causing an unexpected delay. However, he intends to have Bankroll operational by no later than 2022’s Super Bowl match. Martino is currently looking for investors who will take on the sports betting operations in addition to hospitality functions that his proposed site will feature.
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