The Pennsylvania gambling industry launched in 2006. However, no month has earned more gross gaming revenue than March 2023. According to the Pennsylvania Gaming Control Board, March GG$ was around $515.3 million. It came from land-based casinos, online gambling platforms, video gaming terminals, fantasy sports, and sports betting.
The March 2023 GGR saw an 11 percent year-over-year increase. Also, it broke Pennsylvania’s monthly revenue record. The previous record was $462.7 million, set in March 2022. The GGR for March 2023 is around $52.6 million higher than last year.
The gambling industry in the state enjoyed March Madness. As a result, it is one of the best months for the industry in terms of GGR. Also, it is the first time the state’s GGR reached more than $500,000.
Pennsylvania Gambling Industry
While retail table games brought in roughly $85.8 million, slot machines in the state’s seventeen casinos brought in $225.4 million. While slot machine wins increased by 5%, table game wins decreased by approximately 9%. Most of the month’s gains in gaming income were made on the internet.
According to volleyball betting tutorials and news sites, online gambling slot machine earnings increased by 32%, reaching $104.8m. In addition, online wagers on interactive table games increased by 13 percent to almost $40.5 million. The rake from online poker contributed over $2.9 million, bringing the total online take to nearly $148.2 million.
The inferred connotation of “March Madness” also benefited sportsbooks. Many predicted winners fell in the NCAA men’s college basketball tournament, making bookmakers rich.
According to igaming Korea experts, the total handle at Pennsylvania sportsbooks was $723.5 million, and the shops made $50.6 million. The bookies’ take was around $20.2 million higher than in March 2022, a gain of 67 percent. Most of the $45.7 million was amassed via sports wagers from online bookmakers.
With the Penn State Nittany Lions making their first NCAA March Madness appearance in 12 years and a stunning run through the Big Ten tournament, the state of Pennsylvania became increasingly invested in the collegiate basketball postseason.