Pennsylvania Posts Massive Sports Betting Numbers
The March sports betting numbers for the state of Pennsylvania are in, and it was a massive month for that market. The total sports betting handle was $715 million for the month of March and that represented a 20% jump from the February total.
93 percent of the bets placed in March were made online as the mobile apps continued to see the most action. Not only did the sportsbooks see more action in the month of March, but those sportsbooks actually saw more revenue as well.
Sportsbooks actually posted a loss in the month of February was the gross sports betting revenue in March was over $30 million. With the big month of March, the total gross gaming revenue is now over the $1 billion mark since sports betting launched in November 2018.
Pennsylvania is one of the first states to report on March sports betting, at least when it comes to the leader. There is a chance this state will still sit in the top-five, but it is no longer a threat to become the biggest market in the United States.
College basketball always dominates sports betting in March, and Pennsylvania bettors had a local team to bet on. The Villanova Wildcats advanced all the way to the Final Four, and that will actually have a positive impact on the April numbers as well.
FanDuel Dominating the Market
There are five operators that have clearly pulled ahead of the pack in Pennsylvania and there is also a sportsbook clearly leading that pack. FanDuel Sportsbook continues to dominate online market share and that company is partnered with the Valley Forge Casino.
In March, FanDuel posted a total sports betting handle of right around $270 million. DraftKings was next on the list with a handle of $166 million, and that company has partnered with the Hollywood Meadows Casino.
BetMGM, Barstool, and BetRivers are the other three operators in the top group, but all three of those companies have failed to keep up with the leaders. BetMGM had a handle of $79.2 million, Barstool came in at $57.7 million, and BetRivers was a distant fifth at $32.7 million.
Online Casino Gaming Shattering Records
Sports betting is not the only online gambling option in Pennsylvania as the state has both online casinos and online poker as well. Pennsylvania is the clear leader when it comes to the total iGaming package, and that industry just shattered a record in March.
The gross gaming revenue at online casinos and online poker sites was up over $142 million. That is the biggest month on record for iGaming, and the previous record belonged to New Jersey back in January 2022.
Online slots generated a total revenue of $89.4 million as it is easily the most popular form of iGaming.