Pennsylvania Sports-Wagering Handle Falls in April After Busy March

Revenues for Pennsylvania sportsbooks fell in April, which was somewhat expected with the end of March Madness. Online play continued to drive the industry with over 90 percent of handle.

Geoff Zochodne - Sports Betting Journalist at Covers.com
Geoff Zochodne • Senior News Analyst
May 19, 2021 • 10:00 ET
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Pennsylvania sportsbooks also fell prey to the expected downturn in betting activity in April, as the end of March Madness took its toll on wagering in the Keystone State. 

The Pennsylvania Gaming Control Board posted numbers on Tuesday showing the state’s sportsbooks drew US$479.4 million in bets last month. They also generated US$36 million in revenue after paying out winners, making for a hold of 7.5 percent.

More than 90 percent of the handle came from online play. Promotional credits offered by the books also fell to US$9.7 million last month, which was the lowest it’s been since August 2020, but still reduced taxable revenue to about US$26.3 million. 

A not-unexpected slowdown 

Pennsylvania’s figures are consistent with what other states have reported for April. While last month’s haul by Pennsylvania was greater than that of pandemic-affected April 2020, it was below that of March 2021 thanks to a weaker slate of sporting events. 

With March Madness afoot, March 2021 saw US$560.3 million in wagers at Pennsylvania sportsbooks, which translated into US$41 million in revenue. However, despite the jump in handle and revenue compared to April, the win percentage was slightly lower at 7.3 percent.

Promo credits for sports wagering were nearly US$11.7 million in March, while gross revenue was about US$29.3 million. 

Pennsylvania was among the first out of the gate to implement legalized sports betting after the Supreme Court of the United States struck down a law standing in the way in May 2018. The state allows bets to be placed online and in brick-and-mortar sportsbooks.

The top sportsbook for April in Pennsylvania was the Valley Forge Casino Resort, which is partnered with FanDuel. The total sports-wagering handle for the partners was US$169.8 million, more than 98 percent of which came from online bets. 

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Geoff Zochodne, Covers Sports Betting Journalist
Senior News Analyst

Geoff has been writing about the legalization and regulation of sports betting in Canada and the United States for more than three years. His work has included coverage of launches in New York, Ohio, and Ontario, numerous court proceedings, and the decriminalization of single-game wagering by Canadian lawmakers. As an expert on the growing online gambling industry in North America, Geoff has appeared on and been cited by publications and networks such as Axios, TSN Radio, and VSiN. Prior to joining Covers, he spent 10 years as a journalist reporting on business and politics, including a stint at the Ontario legislature. More recently, Geoff’s work has focused on the pending launch of a competitive iGaming market in Alberta, the evolution of major companies within the gambling industry, and efforts by U.S. state regulators to rein in offshore activity and college player prop betting.

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