LAS VEGAS — March Madness was good for Pennsylvania’s burgeoning sportsbook industry, as the popularity of the NCAA Men’s Tournament and the opening of two new sportsbooks led to monthly records for the number of bets and revenue in March.
Pennsylvania’s $44.5 million handle in the month of March is the largest in a single month outside of the country’s two largest legal sports betting jurisdictions, Nevada and New Jersey — a sign that the state is emerging as the U.S.’s third-largest market, according to analysts for PlayPennsylvania.com.
“The legal sports betting market in Pennsylvania has seemingly limitless potential, and March was a significant step forward,” said Jessica Welman, sports betting analyst for PlayPennsylvania.com. “The FanDuel Sportsbook at Valley Forge Casino, and the new sportsbook at the Valley Forge Turf Club, were welcome additions to the market. And those openings show operators are bullish on Pennsylvania.”
According to official reporting released on Tuesday:
- Pennsylvania collected $44.5 million in March bets, up 41 percent from $31.5 million in February and up from $32 million in January.
- The action generated $5.5 million in revenue, up from $1.9 million in February and $2.6 million in January.
- The record month injected just under $2 million into state government coffers, up from $700,854 in February.
Rivers Casino in Pittsburgh remained the market leader by attracting $11.9 million in March bets, up 47 percent from $8.1 million in February. That generated $1.3 million in revenue, up 114 percent from $627,521 the previous month. Rivers Casino was followed by:
- SugarHouse Casino ($9.2 million handle, up from $7.1 million in February;$1.2 million revenue, up from $522,308)
- Parx Casino ($7.96 million handle, up from $7 million; $984,339 revenue, up from $369,996)
- Hollywood Casino at Penn National Race Course ($5.3 million handle, up from $3.7 million; $521,864 revenue, up from $13,914)
- Harrah’s Philadelphia ($3.8 handle, up from $3 million; $326,752 revenue, up from $137,201)
- South Philadelphia Race and Sportsbook ($3.6 million handle, up from $2.6 million; $534,253 revenue, up from $275,877)
- FanDuel at Valley Forge Casino Resort ($2 million handle; $449,597revenue)
- Valley Forge Race and Sportsbook ($706,089 handle; $120,836 revenue)