bet365 launches in Pennsylvania, arrives with $150 bonus

With the Keystone State more than five full years into its legal online sports betting era, the market has seen several operators come and go. Such changes will continue in the coming months, as the launch of bet365 Pennsylvania has finally arrived.

After bet365 first acquired a license to enter the Pennsylvania sports betting market back in 2023, its formal arrival was imminent. As July moves forward, the arrival of bet365 brings another top-tier sportsbook operator into the fold for the stretch run of the MLB regular season, and the start of NFL, NBA, and NHL campaigns looming in the distance.

Considering Pennsylvania has long been considered one of the stronger online sports betting markets, coupled with Pennsylvania online casino being active, many industry enthusiasts remain interested in how the global betting brand will perform in a key market.

bet365′s Pennsylvania license

In January 2023, bet365 partnered with Presque Isle Downs & Casino (owned by Churchhill Downs Incorporated) to be approved to enter the sports betting and iGaming market in Pennsylvania. As noted in the release, the agreement was called a “multi-year agreement” for both online sports betting and iGaming access in the state. While there was an initial belief this deal would lead the way for a same-year arrival, that thesis ultimately proved incorrect.

Instead, the bet365 brand took a more methodical approach as it now rolls out over a year later in Pennsylvania in July of 2024. In hindsight, the operator took the opportunity to acquire the previous license owned by TwinSpires to secure its market access. In the month since, bet365 has methodically rolled out across the U.S., not overly concerned with what the competition is doing. As of mid-July 2024, bet365 is now live in 11 states across the U.S.

Pennsylvania tax rates

The tax rates by the state regulators for online sports betting and online casino were often cited as perhaps part of the reason for bet365′s delay into the market. Pennsylvania has some of the highest tax rates on betting and gaming operators.

Pennsylvania taxes online sports betting gross revenue at 36%. Moreover, online casino is taxed at high levels as well with table games taxed at a 16% rate and online slots taxed at a 54% rate. While Pennsylvania remains one of the strongest markets for regular wagering activity, the high tax rates are definitely a major factor for any operator considering entering the state.

Nearby New Jersey has much lower tax rates compared to Pennsylvania which likely explains, at least in part, why bet365 NJ is already live.

Online gaming revenue continues to soar in Pennsylvania with online slots revenue up 36% to $125.9 million in February of 2024 compared to February of 2023. Table games revenue was also up 56.7%. Yes, the taxes are high, but Pennsylvania is definitely a strong market. How long will bet365 hold off?

bet365 Pennsylvania bonus offers

Now that bet365 has entered Pennsylvania, new users can take advantage of an exclusive bet365 bonus available only in the recently launched PA market.

While bet365 offers a standard Bet $5, Get $150 welcome offer or a $1,000 first bet bonus type of arrangement, the operator’s arrival in a new state means bet365 will sweeten the offer for a limited amount of time. Available now exclusively in Pennsylvania, new users can score an offer to Bet $5 and Get $150 in Bonus Bets + 50 Free Casino Spins. For PA users that sign-up on the bet365 Casino, they will receive a 100% Deposit Match up to $500 + 100 Free Casino Spins.

In addition to the exclusive bet365 PA offers, users who claim either one of the bonuses will have the chance to take up the Drop the Dollar promo. With this offer, users can opt-in to a weekly $5,000 cash prize draw (10 weekly drawings).