PA On-line Casinos Set US Income Document in March; Sportsbooks Surge

Banner month for Pennsylvania’s gaming trade pushes sportsbooks previous $1 billion in lifetime income, in line with PlayPennsylvania

(LAS VEGAS) — The NCAA Event helped gasoline greater than $700 million in wagering at Pennsylvania’s on-line and retail sportsbooks in March, a excessive for a month with out NFL soccer. On-line casinos fared even higher in March, making Pennsylvania the primary state in historical past to surpass $140 million in month-to-month on-line on line casino income, in line with PlayPennsylvania.com, which tracks the state’s gaming trade.

“March couldn’t have gone any higher for Pennsylvania’s gaming trade,” mentioned Katie Kohler, lead analyst for PlayPennsylvania.com. “Sportsbooks bought a major NCAA Event sweetener with Villanova’s run to the Last 4 and a small enhance from New Jersey, the place betting on in-state St. Peter’s is banned. And on-line casinos produced eye-popping outcomes with no finish to the expansion in sight.”

Pennsylvania’s sportsbooks attracted $715.0 million in wagers in March, up 27.6% from $560.3 million from March 2021, in line with official information launched Monday. The month’s betting was additionally up 19.7% from $597.1 million in February.

March’s bets produced $48.5 million in gross income 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 income, yielding $10.9 million in state and native taxes.

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

“Of all of the states which have legalized and controlled sports activities betting during the last 4 years, few can declare the extent of maturity that Pennsylvania has reached,” mentioned Dustin Gouker, lead analyst at PlayUSA.com, which incorporates PlayPennsylvania.com. “This can be a secure market that’s nonetheless displaying wholesome development, even when some newer markets garner extra consideration now.”

On-line sportsbooks accounted for $667.0 million, or 93.3% of the state’s deal with in March. FanDuel led all on-line operators with $267.1 million in wagers, profitable $21.9 million in income.

DraftKings was No. 2 with $164.8 million in wagers, producing $6.7 million in gross income. BetMGM adopted with $78.4 million in wagers, creating $5.2 million in gross income. Penn Nationwide’s Barstool-branded app was fourth with $55.3 million in on-line wagers, which created $2.8 million in gross income.

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

“With the NBA playoffs, baseball, and main golf tournaments the primary sights, sportsbooks now enter the gradual season,” Gouker mentioned. “However the final six months have produced a major leap ahead, with wagering that by no means actually fell beneath $600 million. Higher but, the trade can sit up for a soccer season this yr that ought to deliver even greater numbers.”

On-line casinos and poker

On-line casinos and poker rooms set a U.S. report with $142.7 million in gross income, up 27.9% from $111.6 million in gross gaming income in March 2021 and up 15.4% from $123.7 million in February. March’s outcomes topped Pennsylvania’s earlier excessive of $129.99 million generated in January and broke New Jersey’s U.S. report of $137.9 million set in January.

The tempo at on-line casinos and poker rooms rose to $4.6 million in income per day over the 31 days in March, up from the report $4.4 million per day over the 28 days of February. February’s income created $118.1 million in taxable income after $24.6 million in promotional spending. That yielded $49.0 million in state taxes and native assessments.

“Probably the most attention-grabbing query that’s nonetheless excellent for on-line casinos is the place is the ceiling,” Kohler mentioned. “There are broader financial considerations that would have an effect on the market. However proper now it seems Pennsylvania’s market nonetheless has extra room for development.”

Different highlights from March:

• On-line on line casino video games alone produced $139.5 million in income on $4.3 billion in wagers.
• Poker generated $3.2 million in income. PokerStars topped poker operators with $1.9 million in income.
• Penn Nationwide, which incorporates DraftKings, BetMGM, Barstool, PointsBet, and Hollywood casinos, led all on-line on line casino licensees with $55.2 million in gross income.
• Rivers Philadelphia, which incorporates PlaySugarHouse, Borgata, and BetRivers casinos, was second with $37.0 million.

Pennsylvania sports activities betting income, March 2022

For extra data, go to www.playpennsylvania.com/information.

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

Lead picture credit score: AP Picture/Matt Rourke