- The Pennsylvania sports betting market grew with two new sportsbooks opening in the month of March.
- The revenue figures were only made through retail sportsbooks, as there is still no mobile sports betting apps in PA.
HARRISBURG, Pa. – Sports betting in Pennsylvania has grown subtly since the state’s first sportsbook opened in November of last year. With two more sports wagering shops opening and with college basketball’s March Madness Tournament raking in bets last month, PA saw it’s highest handle and house take yet.
According to the Pennsylvania Gaming Control Board (PGCB), the total handle among all active sportsbooks reached over $44 million for the month of March alone.
What’s more impressive is the fact that they were able to keep a little more than $5.5 million of that handle. That is a keep of nearly 12.5 percent and almost triple the amount of February’s revenue amount.
The high percentage of house take didn’t just benefit the retail sports wagering venues, but also the state. Pennsylvania’s 36 percent tax rate on legal sports betting revenue, which is the highest in the country, allowed them to collect nearly $2 million from local operators.
These numbers are expected to grow even further in the months to come. While the Valley Forge Casino and Valley Forge Turf Club both began accepting sports wagers last month, Mount Airy Casino and the Mohegan Sun Pocono both applied to the PGCB to do the same at their establishments.
The Pennsylvania sports betting market is currently the third largest in the country, trailing only Nevada and New Jersey. However, it won’t be until mobile sports betting is approved in the state for PA to be able to compete with the sheer volume of action those states see on a monthly basis.
New Jersey’s total handle among all active sportsbooks, both online and retail locations, in the month of March reached approximately $372.5 million in bets. And just as the months before that, around 80 percent came from mobile wagering.
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News tags: PA revenue | Pennsylvania | Pennsylvania sports betting
– In his career, Hasan has worked both local and state government positions—including the Attorney General’s Office in Florida. On top of being familiar with the legislative process, he has also been researching and writing on the legality of sports betting across the US. Outside of work you’ll most likely find him producing or playing music, playing sports, or working on creative writing projects. You’ll also catch him at Doak Campbell Stadium cheering on the Noles.
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