Pennsylvania Sportsbooks Surge On March Madness While State’s Online Casinos Set U.S. Revenue Record

Written By Staff on April 18, 2022 - Last Updated on April 21, 2022
PA sportsbooks surge with March Madness

Banner month for Pennsylvania’s gaming industry pushes sportsbooks past $1 billion in lifetime revenue, according to PlayPennsylvania

(LAS VEGAS) — The NCAA Tournament helped fuel more than $700 million in wagering at Pennsylvania’s online and retail sportsbooks in March, a high for a month without NFL football. Online casinos fared even better in March, making Pennsylvania the first state in history to surpass $140 million in monthly online casino revenue, according to PlayPennsylvania.com, which tracks the state’s gaming industry.

“March couldn’t have gone any better for Pennsylvania’s gaming industry,” said Katie Kohler, lead analyst for PlayPennsylvania.com. “Sportsbooks got a significant NCAA Tournament sweetener with Villanova’s run to the Final Four and a small boost from New Jersey, where betting on in-state St. Peter’s is banned. And online casinos produced eye-popping results with no end to the growth in sight.”

Pennsylvania’s sportsbooks attracted $715.0 million in wagers in March, up 27.6% from $560.3 million from March 2021, according to official data released Monday. The month’s betting was also up 19.7% from $597.1 million in February.

March’s bets produced $48.5 million in gross revenue for sportsbooks, up 18.2% from $41.0 million in March 2021 and up 118.9% from $22.2 million in February. With $18.1 million in promotional spending, Pennsylvania sportsbooks produced $30.4 million in taxable revenue, yielding $10.9 million in state and local taxes.

Pennsylvania’s sportsbooks have now generated $1.0 billion in revenue on $13.7 billion in wagers since sportsbooks first began taking bets in late 2018. Pennsylvania joins New Jersey and Nevada as the only states to have surpassed $1 billion in lifetime sports betting revenue.

“Of all the states that have legalized and regulated sports betting over the last four years, few can claim the level of maturity that Pennsylvania has reached,” said Dustin Gouker, lead analyst at PlayUSA.com, which includes PlayPennsylvania.com. “This is a stable market that is still showing healthy growth, even if some newer markets garner more attention now.”

Online sportsbooks accounted for $667.0 million, or 93.3% of the state’s handle in March. FanDuel led all online operators with $267.1 million in wagers, winning $21.9 million in revenue.

DraftKings was No. 2 with $164.8 million in wagers, producing $6.7 million in gross revenue. BetMGM followed with $78.4 million in wagers, creating $5.2 million in gross revenue. Penn National’s Barstool-branded app was fourth with $55.3 million in online wagers, which created $2.8 million in gross revenue.

Retail sportsbooks took in $48.0 million in wagers in March, which produced $5.0 million in gross revenue. Live Philadelphia led all retailers with $6.7 million in wagers.

“With the NBA playoffs, baseball, and major golf tournaments the main attractions, sportsbooks now enter the slow season,” Gouker said. “But the last six months have produced a significant leap forward, with wagering that never really fell below $600 million. Better yet, the industry can look forward to a football season this year that should bring even bigger numbers.”

Online casinos and poker

Online casinos and poker rooms set a U.S. record with $142.7 million in gross revenue, up 27.9% from $111.6 million in gross gaming revenue in March 2021 and up 15.4% from $123.7 million in February. March’s results topped Pennsylvania’s previous high of $129.99 million generated in January and broke New Jersey’s U.S. record of $137.9 million set in January.

The pace at online casinos and poker rooms rose to $4.6 million in revenue per day over the 31 days in March, up from the record $4.4 million per day over the 28 days of February. February’s revenue created $118.1 million in taxable revenue after $24.6 million in promotional spending. That yielded $49.0 million in state taxes and local assessments.

“The most interesting question that is still outstanding for online casinos is where is the ceiling,” Kohler said. “There are broader economic concerns that could affect the market. But right now it appears Pennsylvania’s market still has more room for growth.”

Other highlights from March:

  • Online casino games alone produced $139.5 million in revenue on $4.3 billion in wagers.
  • Poker generated $3.2 million in revenue. PokerStars topped poker operators with $1.9 million in revenue.
  • Penn National, which includes DraftKings, BetMGM, Barstool, PointsBet, and Hollywood casinos, led all online casino licensees with $55.2 million in gross revenue.
  • Rivers Philadelphia, which includes PlaySugarHouse, Borgata, and BetRivers casinos, was second with $37.0 million.

Pennsylvania sports betting revenue, March 2022

LicenseeOnline BrandTotal HandleTotal RevenueOnline HandleOnline RevenueRetail HandleRetail Revenue
Valley ForgeFanDuel$269,051,131$22,029,254$267,064,436$21,876,763$1,986,696$152,491
Hollywood MeadowsDraftKings$166,218,625$6,873,695$164,777,612$6,677,395$1,441,013$196,301
Hollywood MorgantownBetMGM$79,287,597$5,305,875$78,405,972$5,199,757$881,626$106,118
Hollywood Penn NationalBarstool$57,796,260$2,616,710$55,292,889$2,751,480$2,503,370-$134,770
Rivers PittsburghBetRivers$32,705,896$2,624,139$27,005,616$1,821,592$5,700,281$802,547
Rivers PhiladelphiaSugarHouse$24,429,000$1,712,911$18,017,534$843,550$6,411,466$869,361
ParxParx$20,526,758$2,048,811$14,897,055$1,471,738$5,629,702$577,073
Hollywood YorkPointsBet$15,894,813$1,446,461$14,464,807$1,259,185$1,430,006$187,275
Mount AiryFox Bet$11,449,181$891,931$11,045,918$868,222$403,263$23,709
Live PhiladelphiaBetway$9,429,336$896,959$2,702,475$38,016$6,726,861$858,943
Mohegan Sun PoconoUnibet$7,323,547$537,466$6,275,705$404,279$1,047,843$133,187
Harrah's PhiladelphiaCaesars$6,940,939$100,295$3,425,796$19,912$3,515,142$80,384
Presque IsleTwinSpires$6,102,871$544,906$2,823,705$260,693$3,279,165$284,213
Wind CreekWind Creek$2,523,512$312,981$782,410$51,313$1,741,102$261,668
South Philly OTB$2,259,788$306,623$0$0$2,259,788$306,623
Lehigh OTB$1,296,034$120,990$0$0$1,296,034$120,990
Live Pittsburgh$1,235,224$108,701$0$0$1,235,224$108,701
Parx Malvern$506,066$33,553$0$0$506,066$33,553
Total$714,976,578$48,512,264$666,981,930$43,543,895$47,994,649$4,968,369

For more information, visit www.playpennsylvania.com/news.

Contact: Zack Hall, Catena Media, [email protected]

Lead image credit: AP Photo/Matt Rourke

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