Parx Online Sports Betting
Although they seemed hesitant at first, Parx, one of the most successful casinos in Pennsylvania, is expected to be the first casino to offer sports betting in PA. Parx put up the hefty $10 million application fee on August 27th, 2018 and just 37 days later, was approved by the Pennsylvania Gaming Control Board (PGCB) on October 3rd for legal full-scale sports betting in its flagship Parx Casino in Bensalem and the South Philadelphia Turf Club.
Parx and the Turf Club are owned by Greenwood Gaming, who has teamed up with software company GAN for its live sportsbook. GAN already successfully run several New Jersey online sportsbooks, including Oceans Casino and FanDuel’s mobile sportsbook. Parx has also struck a deal with SBTech and the very popular Kambi to offer online and mobile sports betting. Kambi software powers two of the most successful online sportsbooks in New Jersey, DraftKings and SugarHouse.
Parx Casino came into 2018 as the highest grossing casino in the very competitive Pennsylvania market. Boasting over 3400 slots, 180 table games, live horse racing, an exciting nightlife, and 48 table poker room, it only makes sense for Parx to be an epicenter of PA online sports betting.
Parx is hard at work building a permanent sportsbook in its already impressive casino. Although they have not made those plans public, we fully expect Parx to spare no expense to make their live betting area rival some of the best in Vegas. The plan is to be fully up and running in the permanent location sometime in the second quarter in 2019.
While the sportsbook is being built, Parx will go live as early as November in a temporary location set up in the Parx 360 lounge. There will be seven betting windows and a total of 42 self service kiosks. Twelve of the kiosks will be located in the sports betting area, while the other 30 will be set up around the casino. There will also be multiple televisions set up for your sports viewing pleasure.
South Philadelphia Turf Club
Conveniently located in the middle of all the Philadelphia sports action, the Turf Club will also be getting their own live sportsbook. A $1 million dollar facelift will prepare the off track parlor for their first taste of live sports betting, but work on the Turf Club won’t start until Parx is successfully up and running. The list of upgrades includes adding seven sports betting windows and 13 self serve kiosks.
Online and Mobile Sports Betting
As we’ve seen with sports betting in New Jersey, online and mobile wagering is where casinos can be truly innovative. From in-game betting to last minute wagers from your couch, the ability to have customers on the go has been a huge boost to sports betting. Parx has partnered with SBTech and Kambi for their online and mobile sports betting, and from experience in New Jersey, we should expect a high quality, updated and easy to use mobile product. Online will not launch until early 2019, but in-game betting and live lines on bets from moneylines to prop bets will make it worth the wait. In-game betting allows bettors to place bets on every pitch, every down and every point while the odds update in real time.
Expectations for Parx Online Sportsbook
Even before the Supreme Court of the United States decided that limiting states the right to offer sports betting was unconstitutional, Pennsylvania was working on a huge expansive gaming bill. Lawmakers in the Keystone state included an option in the new gaming framework for the states casinos to open sportsbooks should it become legal. Once PASPA (Professional and Amateur Sports Protection Act) was overturned, they have wasted no time accepting applications.
It’s not all sunshine a rainbows, though. There are some concerns about Pennsylvania’s $10 million licensing fee and overall 41% tax on profits. To put this in perspective, to get a license in New Jersey it costs $100,000 for the license, and about a total of 25% of profits go to the state. Much more reasonable and manageable for sports betting operators in New Jersey.
While Parx initially waffled at the prospect of offering online sports betting in Pennsylavnia, it seems as though they have embraced the new gaming expansion and are set up to be a major player in both realms. Parx is on pace to be the first to market, which gives them a leg up on the competition. Being the most profitable casino in Pennsylvania, having a large existing customer base and partnering with some of the biggest names in sports betting positions Parx to be one of the market leaders in what could be one of the largest sports betting markets in the US.