Pennsylvania Sportsbooks Reach $723 Million in Betting Handle for March

Behind the popularity of the NCAA Men’s Basketball Tournament, PA sports betting outlets brought home a haul in March, booking $723.5 million in wagers.

Up close to 21% over February’s handle, sportsbooks in the Keystone State enjoyed a healthy number of upsets throughout March Madness that tipped the scales in their favor over the betting public. The rise in betting came despite only Penn State and Pittsburgh making the tournament and against the Philadelphia Eagles’ trip to the Super Bowl in February.

PA online sports betting fans enjoyed placing wagers from their mobile device with over 92% of all wagers coming from apps.

Taxable sports betting revenue topped $50 million helping the state enjoy a $15.5 million windfall for the state’s general fund.

To little surprise, the FanDuel Sportsbook at the Valley Forge Casino Resort brought home over $30.3 million in revenue on a state-leading $280.7 million in handle. Next on the list was the DraftKings Sportsbook at the Hollywood Casino at The Meadows. The sports betting giant reported $15 million in revenue on $187.9 million in wagers. 

The two popular sportsbooks were the only two in PA sports betting market to book nine figures in handle.

Other notable sportsbooks included the BetMGM sportsbook at Hollywood Casino Morgantown pocketing $6.3 million in revenue on a $56.4 million handle. The Caesars Sportsbook at Harrah’s Philadelphia posted $1.9 million profit against a $40.4 million handle. 

Finally, the Barstool Sportsbook at the Hollywood Casino at Penn National accepted $37 million in wagers and profited $2.9 million over the month of March.

Sportsbooks in the Keystone State reported a hold of 9.1% of all wagers, an increase of 2.3% over the 6.8% hold of March 2022. With no #1 seeds making the Elite Eight for the first time ever, the public took a hit on their bets on the tournament favorites such as Alabama, Houston, and Kansas. 

Also a surge in viewers for the women’s NCAA tournament brought more wagers to Pennsylvania sportsbooks as BetMGM reported seeing a 30% increase in wagers compared to the 2022 event.