After a steep decline in February, Pennsylvania sportsbooks rebounded in March due to a stellar March Insanity.
PA sports activities betting operators recorded $723.5 million in March betting deal with. It’s a 20.7% month-over-month improve and a slight 1.2% improve year-over-year.
“After a slower month of February, Pennsylvania sportsbooks noticed loads of betting motion once more in March, recording greater than $723.5 million in deal with final month,” stated PlayPennsylvania Managing Editor Chris Imperiale. “March Insanity betting appeared to have performed a job in getting sports activities betting figures again to the place they have been in the course of the NFL season. March’s deal with was up round $124 million from February, and elevated about 1.2% in comparison with March 2022.”
Pennsylvania sportsbooks recorded $66.5 million in income, which is the biggest quantity to this point in 2023.
March 2023 numbers for Pennsylvania sports activities betting
Figures from the Pennsylvania Gaming Management Board:
- Deal with: $723.5 million (20.7% MoM improve; 1.2% YoY improve)
- Income: $66.5 million (6.9% MoM improve; 43% YoY improve) / Adjusted Gross Income (taxable): $50.6 million
- Maintain: 9.1% (up from 10.4% final month)
- P.c of bets positioned on-line: 92.2%
- Promotional credit: $15.9 million
- February sports activities betting taxes: $14.7 million
- State and native entities: $1,012,905.20
- High sports activities betting app by deal with: FanDuel Sportsbook with $280.7 million
- High sports activities betting app by income: FanDuel Sportsbook with $30.3 million
Fast evaluation from March PA sports activities betting figures
- March Insanity stays a preferred sporting occasion to guess on amongst Pennsylvanians. It’s the second straight March during which Pennsylvania recorded a deal with of greater than $700 million. After a hiatus from the NCAA Event in 2020, the Keystone State solely posted $560.2 million in March 2021. The second straight 12 months with betting deal with exceeding $700 million (almost $715 million in 2022) proves that that is what the norm normally is for Pennsylvania.
- Pennsylvania sportsbooks capitalized rather more on March Insanity this season in comparison with final. With deal with comparatively the identical, Pennsylvania sportsbooks introduced in $66.5 million in income in comparison with $48.5 million final 12 months.
- Caesars PA Sportsbook has take over the No. 4 spot when it comes to deal with for the primary time ever. Caesars recorded $38.3 million in on-line deal with, and has overtaken Barstool Sportsbook, which recorded $35.1 million in deal with. Caesars entered the PA market late and has occupied the sixth or seventh spot when it comes to PA deal with for the final a number of months. The Las Vegas-based sportsbook seems to be making some strides within the Keystone State. Nevertheless, as soon as once more, FanDuel PA Sportsbook dominated with a 42% market share. DraftKings PA Sportsbook posted a 28% market share.
PA sports activities betting deal with & income by operator March 2023
| Licensee | On-line Model | Deal with | Income | Maintain | Taxes |
|---|---|---|---|---|---|
| Valley Forge | FanDuel | $280,736,701 | $30,375,370 | 10.8% | $8,598,549 |
| Hollywood Meadows | DraftKings | $187,855,892 | $15,065,540 | 8.0% | $4,431,651 |
| Hollywood Morgantown | BetMGM | $56,430,674 | $6,308,183 | 11.2% | $1,084,818 |
| Harrah’s Philadelphia | Caesars | $40,437,541 | $1,930,947 | 4.8% | $430,133 |
| Hollywood Penn Nationwide | Barstool | $36,988,969 | $2,913,623 | 7.9% | $772,706 |
| Rivers Pittsburgh | BetRivers | $32,068,733 | $2,791,292 | 8.7% | $733,067 |
| Rivers Philadelphia | PlaySugarHouse | $30,506,659 | $1,593,306 | 5.2% | $555,965 |
| Parx | betParx | $16,848,708 | $1,712,062 | 10.2% | $569,754 |
| Hollywood York | PointsBet | $11,998,397 | $1,259,676 | 10.5% | $227,441 |
| Reside Philadelphia | Betway | $7,129,473 | $483,286 | 6.8% | $173,983 |
| Mohegan Solar Pocono | Unibet | $6,349,474 | $459,347 | 7.2% | $101,730 |
| Mount Ethereal | Fox Wager | $6,236,077 | $702,546 | 11.3% | $239,664 |
| Wind Creek | Wind Creek | $4,071,165 | $233,880 | 5.7% | $83,615 |
| South Philadelphia Race & Sportsbook | $1,717,189 | $215,950 | 12.6% | $77,742 | |
| Mohegan Lehigh Valley | $1,674,007 | $120,476 | 7.2% | $43,372 | |
| Reside Pittsburgh | $1,344,571 | $88,986 | 6.6% | $32,035 | |
| Presque Isle Downs | $837,821 | $142,659 | 17.0% | $51,357 | |
| Parx Malvern | $291,682 | $62,311 | 21.4% | $22,432 | |
| Parx Shippensburg | $22,074 | $6,335 | 28.7% | $2,280 | |
| Whole | $723,545,806 | $66,465,774 | 9.2% | $18,232,293 |
