March Madness betting boosts Pennsylvania sports betting revenue

Sports betting in Pennsylvania received a significant boost in March thanks to March Madness betting.

According to figures released by the Pennsylvania Gaming Control Board (PGCB) bettors in Pennsylvania wagered a total of $44.5m on sports in March.

March’s sports betting handle is a significant increase on the $31.5m wagered on sports in February.

In terms of revenue, sports betting in Pennsylvania generated more than $5.5m, almost tripling the $1.9m posted the month prior.

March also saw the launch of two new sportsbooks in Pennsylvania. On 13 March the Valley Forge Casino Resort launched sports betting operations while the Valley Forge Race and Sportsbook opened on 14 March.

Looking closer at the figures, Rivers Casino was the highest performing sportsbook with a handle of $11.9m, revenue of $1.3m and tax contribution of $483,983.

SugarHouse followed close behind Rivers, accepting $9.2m in wagers and holding onto $1.2m. In terms of tax contributions, SugarHouse paid $445,428 to the state.

Parx Casino, the third highest performing sportsbook in the state, took $7.9m in bets, generated $984,339 in revenue and paid $354,362 in tax.

This marks the second consecutive month where these three sportsbooks have posted the highest figures in the state.

The state’s two new Valley Forge sportsbooks also reported positive results when you consider that they opened halfway through the month.

Valley Forge Casino Resort took over $2m in wagers and held onto $449,597. The resort paid $161,855 in tax.

The Valley Forge Race and Sportsbook posted a handle of $706,089, revenue of $120,836 and paid $43,501 in tax.

It’s important to remember that these figures only account for land-based sports betting as Pennsylvania has yet to launch online and mobile sports betting.

However, the PGCB has revealed that the state’s first online sports betting site is set to launch within the next three weeks.

In New Jersey, mobile and online sports betting has been one of the most popular ways to bet. According to figures released by the New Jersey Division of Gaming Enforcement, for three consecutive months, 80% of sports bets have been placed using online betting sites or mobile sports betting apps.

If these figures are anything to go on, online and mobile sports betting could provide a significant boost to Pennsylvania’s sportsbooks.

For a closer look at each state’s sports betting figures, check out our stats page.