Pennsylvania Sportsbooks Double Revenue In March

by | Apr 20, 2022 11:57 am | Revenue | 0 comments

Pennsylvania Sportsbooks Double Revenue In March

Pennsylvania Sportsbook

  • According to a recent report released by the Pennsylvania Gaming Control Board, Pennsylvania’s sportsbooks handled $714.96M in wagers for $48.51M in revenue.
  • The $48.51 million in March sports betting revenue was more than double Pennsylvania’s figure from February when sportsbooks generated just $22.16 million in revenue.

HARRISBURG, Pa. – Pennsylvania’s sportsbooks had another solid month in March, according to a new report released by the Pennsylvania Gaming Control Board.

Pennsylvania Doubles Revenue Month-Over-Month

In March, sportsbooks in Pennsylvania handled a combined $714.96 million in wagers, up over $100 million from February’s total handle of $597 million.

March also marked the fifth time in the last six months that Pennsylvania’s monthly sports betting handle surpassed $700 million, according to data in the report.

From a sports betting revenue standpoint, Pennsylvania brought in $48.51 million in March, more than doubling their February mark of $22.16 million.

The increased revenue figure coincided with a drop in promotional spending, falling from $22.6 million in February to $18.1 million in March.

Pennsylvania’s sportsbooks contributed $10.33 million in state taxes and a bit over $608,000 in local taxes in March.

Online Sportsbooks Continue To Dominate, Valley Forge Paces Operators

Of the nearly $715 million combined March legal sports betting handle in Pennsylvania, $666.98 million came from online sportsbooks, with $47.99 million coming from retail sportsbooks.

Online sportsbooks also generated the vast majority of the combined revenue figure – $43.54 million – with the remainder, approximately $4.96 million, coming from retail sportsbooks.

The Pennsylvania sportsbook operator to report the largest sports betting handle in March was the Valley Forge Casino, with $269.05 million in wagers handled.

This led to a revenue figure of $22.02 million for March. The vast majority of these totals came from their online sportsbook: $267.06 million was handled via their online sportsbook, with their retail sportsbook handling $1.98 million in wagers.

Hollywood Casino at the Meadows placed second among operators for March with $166.21 million in handle and $6.87 million in revenue. Hollywood Casino Morgantown rounded out the top three with $75.21 million handled and $5.72 million in revenue for March.

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