Wagers increase for Pennsylvania in March with $800 in sports betting handle for the month.
As expected, March brought Pennsylvania bettors back from their February lull. While the short-term gains were strong, long-term the state sees iGaming as the revenue cash cow.that sportsbooks in the Keystone State accepted $800.7 million in bets last month, a 21% increase over February. Operators improved their winning percentage, seeing a 26% jump in gross revenue at $63.7 million.
Promotional credits continued to fall, from $20.1 million to $18.1 million, which is the first time promos dipped under $20 million since August, a dead zone in sports betting action. The hold percentage grew from 7.6% to a slightly better 7.9%, bringing the tax bill up to $16.4 million, more than February’s $10.8 million but less than January’s $25.1 million., but FanDuel’s dominance in the market remains constant. And while DraftKings is second, they still see a huge share of the tickets compared to the remaining operators in the state.Compared to March 2023, a ton of gambling games saw their revenue shrink.
IGaming slots saw a massive 29.2% growth while iGaming table games did even better with 31.1%. Sports betting revenue fell by 10% YoY and is nearly four times smaller than iGaming’s monthly revenue . If you choose to make use of any information on this website including online sports betting services from any websites that may be featured on this website, we strongly recommend that you carefully check your local laws before doing so.
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