PA Sportsbooks Record $723 Million In Handle Thanks To March Madness

Written By Corey Sharp on April 18, 2023 - Last Updated on July 12, 2023
PA sportsbooks accepted more than $723 million in March handle.

After a steep decline in February, PA online sports betting rebounded in March thanks to a stellar March Madness.

PA sports betting operators recorded $723.5 million in March betting handle. It’s a 20.7% month-over-month increase and a slight 1.2% increase year-over-year.

“After a slower month of February, Pennsylvania sportsbooks saw plenty of betting action again in March, recording more than $723.5 million in handle last month,” said PlayPennsylvania Managing Editor Chris Imperiale. “March Madness betting seemed to have played a role in getting sports betting figures back to where they were during the NFL season. March’s handle was up around $124 million from February, and increased about 1.2% compared to March 2022.”

Pennsylvania sportsbooks recorded $66.5 million in revenue, which is the largest amount so far in 2023.

March 2023 numbers for Pennsylvania sports betting

Figures from the Pennsylvania Gaming Control Board:

  • Handle: $723.5 million (20.7% MoM increase; 1.2% YoY increase)
  • Revenue: $66.5 million (6.9% MoM increase; 43% YoY increase) / Adjusted Gross Revenue (taxable): $50.6 million
  • Hold: 9.1(down from 10.4% last month)
  • Percent of bets placed online: 92.2%
  • Promotional credits: $15.9 million
  • February sports betting taxes: $14.7 million
  • State and local entities: $1,012,905.20
  • Top sports betting app by handle: FanDuel Sportsbook with $280.7 million
  • Top sports betting app by revenue: FanDuel Sportsbook with $30.3 million

Quick analysis from March PA sports betting figures

  • March Madness remains a popular sporting event to bet on among Pennsylvanians. It’s the second straight March in which Pennsylvania recorded a handle of more than $700 million. After a hiatus from the NCAA Tournament in 2020, the Keystone State only posted $560.2 million in March 2021. The second straight year with betting handle exceeding $700 million (nearly $715 million in 2022) proves that this is what the norm usually is for Pennsylvania.
  • Pennsylvania sportsbooks capitalized much more on March Madness this season compared to last. With handle relatively the same, Pennsylvania sportsbooks brought in $66.5 million in revenue compared to $48.5 million last year.
  • Caesars PA Sportsbook has taken over the No. 4 spot in terms of handle for the first time ever. Caesars recorded $38.3 million in online handle, and has overtaken Barstool Sportsbook, which recorded $35.1 million in handle. Caesars entered the PA market late and has occupied the sixth or seventh spot in terms of PA handle for the last several months. The Las Vegas-based sportsbook appears to be making some strides in the Keystone State. However, once again, FanDuel PA Sportsbook dominated with a 42% market share. DraftKings PA Sportsbook posted a 28% market share.

Explore our exclusive PA sports betting bonuses page, where you can compare the promotions offered by the top sportsbooks in the state.

PA sports betting handle & revenue by operator March 2023

LicenseeOnline BrandHandleRevenueHoldTaxes
Valley ForgeFanDuel$280,736,701$30,375,37010.8%$8,598,549
Hollywood MeadowsDraftKings$187,855,892$15,065,5408.0%$4,431,651
Hollywood MorgantownBetMGM$56,430,674$6,308,18311.2%$1,084,818
Harrah's PhiladelphiaCaesars$40,437,541$1,930,9474.8%$430,133
Hollywood Penn NationalBarstool$36,988,969$2,913,6237.9%$772,706
Rivers PittsburghBetRivers$32,068,733$2,791,2928.7%$733,067
Rivers PhiladelphiaPlaySugarHouse$30,506,659$1,593,3065.2%$555,965
Hollywood YorkPointsBet$11,998,397$1,259,67610.5%$227,441
Live PhiladelphiaBetway$7,129,473$483,2866.8%$173,983
Mohegan Sun PoconoUnibet$6,349,474$459,3477.2%$101,730
Mount AiryFox Bet$6,236,077$702,54611.3%$239,664
Wind CreekWind Creek$4,071,165$233,8805.7%$83,615
South Philadelphia Race & Sportsbook$1,717,189$215,95012.6%$77,742
Mohegan Lehigh Valley$1,674,007$120,4767.2%$43,372
Live Pittsburgh$1,344,571$88,9866.6%$32,035
Presque Isle Downs$837,821$142,65917.0%$51,357
Parx Malvern$291,682$62,31121.4%$22,432
Parx Shippensburg$22,074$6,33528.7%$2,280
Photo by Brynn Anderson / AP
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Corey Sharp

Corey Sharp is the Lead Writer at PlayPennsylvania bringing you comprehensive coverage of sports betting and gambling in Pennsylvania. Corey is a 4-for-4 Philly sports fan and previously worked as a writer and editor for the Philadelphia Inquirer and NBC Sports Philadelphia.

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