The “March Madness” of the NCAA college basketball championship tournament gave Pennsylvania’s nascent sports betting market its biggest month yet.
According to numbers released by the state Gaming Control Board, Pennsylvania’s sports betting revenue rose by more than 40 percent in mach. Sports books logged $41.5 million in wagers, up from $31.5 million in February. IT was the best sports betting month ever in any state other than Nevada or New Jersey.
“The legal sports betting market in Pennsylvania has seemingly limitless potential, and March was a significant step forward,” said Jessica Welman, sports betting analyst for PlayPennsylvania.com, in an interview with the Meadville Tribune.
The Pennsylvania March revenue includes Valley Forge Casino, which began offering sports betting on March 13; and the off-track betting parlor Valley Forge Race and Sportsbook, which began offering sports betting the following day. For the second consecutive month, Rivers Casino in Pittsburgh was the state’s top spot for sports betting with just under $12 million in wagers in March.
There are currently eight retail sports books up and running in Pennsylvania—six in casinos and two in off-track betting parlors. The gaming board voted last week to approve the application for a company to work with Presque Isle Downs & Casino near Erie to become the ninth retail location.
There are no Pennsylvania books yet accepting online wagers. Gaming Control Board spokesman Doug Harbach has said regulators are focusing on getting the brick-and-mortar sports betting parlors in place before expanding online, predicting last month that Pennsylvania could see its first online sports betting this summer.
The board also is waiting to see what, if any, effect the U.S. Department of Justice reinterpretation of the 1962 Wire Act has on current online sports book wagering. Since all wagering in Pennsylvania is required to be within the physical confines of the state, no immediate effect is expected. However, interstate transfer of betting lines could theoretically be targeted.
“The growth of Pennsylvania’s market is stunted without online sports betting,” said Dustin Gouker, lead analyst for PlayPennsylvania.com, told the Tribune. “Online bets account for about 80 percent of New Jersey’s handle.”
