Following a combined loss of $442,847 the month before, Pennsylvania's online and brick-and-mortar bookmakers allegedly brought in little more than $30.4 million in revenue overall in March.
The significant increase from the 18 operators in "The Keystone State" represented an all-time high, according to a Monday report from the online news site PlayPennsylvania.com, which cited official information from the Pennsylvania Gaming Control Board (pdf). This increase was accompanied by a rise of 19.7% month-over-month in combined handle to $714.9 million.
Distant rule:
According to PlayPennsylvania.com, Pennsylvania's sportsbetting boom generated almost $10.3 million in state taxes and $608,011 for local organisations in March. The average hold climbed by 3% month over month to reach 6.7%. A whopping 93% of all bets made during the month were reportedly put online, along with an alleged $18.1 million in promotional credits.
blazing trails:
According to March handle and revenue numbers, FanDuel Group was the biggest online sportsbetting app in the state with $267 million and $21.8 million, respectively. DraftKings Incorporated was second with $164.7 million and $6.6 million. According to the source, BetMGM came in third with handle totaling $78.4 million and revenue totaling $5.2 million, while the Barstool Sports-branded advance from Penn National Gaming Incorporated took fourth place with figures of $55.3 million and $2.7 million.
boost for basketball:
In a subsequent analysis, Katie Kohler of PlayPennsylvania.com revealed that this year's NCAA Division I Men's Basketball Tournament, also known as "March Madness," was mainly responsible for the sharp increase in Pennsylvania's aggregated sportsbetting data. A lot of people were interested in this spectacle, which took place from March 15 to April 4, since the Villanova University team advanced all the way to the semifinals before falling to eventual champion University of Kansas.
Read Kohler's statement...
"March was a perfect month for Pennsylvania's gambling sector. Sportsbooks received a huge lift from Villanova University's run to the "Final Four" of the NCAA tournament as well as a modest boost from New Jersey, where betting on St. Peter's University is prohibited, while internet casinos delivered astounding results with no indication of a slowdown in their expansion.
iGaming preferences:
According to the source, overall gaming revenues in Pennsylvania's aforementioned online poker and casino market reached a new monthly high of $142.7 million in March. According to PlayPennsylvania.com, this amount was over 9.9% more than the previous record for the eastern state, which was $129.9 million, achieved in January. It was also 3.4% higher than the previous record for the United States, which was $137.9 million set by New Jersey in the same month.
