Pennsylvania sports betting handle was on the upswing in March after a one-month dip.
The state recorded $560.3 million in March bets, according to a state report released Thursday.
March’s handle is up from the $509.5 million in February, but lower than January’s all-time high of $615.3 million. Prior to February’s slump, there were nine-straight months of handle growth.
February was the first month without a full slate of NFL betting and Pennsylvania sports betting received a boost from the NCAA Tournament.
Sports betting revenue up as well
Operators turned in $41 million in revenue, good for a 7% hold.
Promotional spending dipped a bit: $11.6 million compared to February’s $16.8 million.
On the $29.4 million in taxable revenue, the state collected $9.98 million in taxes.
Online dominates again in Pennsylvania
Nearly 92% of March bets in Pennsylvania were placed online.
The $514.3 million wagered online resulted in $26 million in taxable revenue.
FanDuel continues Pennsylvania sports betting lead
FanDuel held more than 36% of the month’s handle, with $205.9 million in bets.
After shelling out $3.3 million in promos, it generated $9.9 million in taxable revenue.
DraftKings maintained its second-place status, with a $118.4 million handle. It collected $6.3 million in taxable revenue after its $1.6 million in promo spending.
Barstool clocks in at No. 3
Penn National Gaming’s Barstool Sportsbook finished March at third place.
Its $65 million handle generated $6.5 million in gross revenue. With $2.8 million in Barstool promo spending, it generated $3.7 million in taxable revenue. That spending is notable considering Barstool’s previous claims that it did not need to spend on acquiring customers like its competitors.
Rivers took $54.9 million in bets generating $3.5 million in taxable revenue through its two sportsbooks.
Pennsylvania could regain No. 3 spot
Pennsylvania was overtaken in February by Illinois in overall monthly handle.
New Jersey, Nevada and Illinois all turned in handles larger than Pennsylvania in February.
With in-person registration again required in Illinois, the third spot could flip again. A large, maturing market in Michigan is also likely on its heels.
Of March figures reported so far:
- Pennsylvania: $560.3 million
- Indiana: $316.7 million
- Iowa: $161.4 million
