Sports betting in Pennsylvania is similar to other states like New Jersey this February, with the handle going down for the month. The state’s sports betting handle for February is $597.1 million. This is 24.8% lower than January’s $793.7 million. However, its year-on-year numbers are still positive, with a 17.2% growth from February 2021’s $509.5 million. February is the shortest month of the year, which in itself is a disadvantage. There is also a lull due to the lack of football games.
However, if you read gambling tutorials, and read about gambling trends, you will discover that most sportsbooks will easily bounce back in March. This is because of, yes, you guessed it, March Madness. The final stretch of the college basketball season makes it a very busy month for sportsbooks across the country. And with a very busy Championship season, many in the industry are expecting that March Madness wagering can generate as much as $10 billion in bets.
Sports Betting in Pennsylvania: The Numbers
Mobile sports betting also takes a plunge this February, with a 24.3% drop from January’s $737.4 million to February’s mobile handle of $558.1 million. But the market is still generally favorable to those who use sports betting software. February 2021’s mobile handle was $469.7 million, so we still see an 18.8% increase from last year. Besides, online sports betting takes up 93.5% of the Pennsylvania betting market.
Meanwhile, the total gross sports betting revenue for Pennsylvania sportsbooks is -$442,847. January’s gross revenue is $32.2 million. Back in February 2021, the revenue was $16.4 million. Again, the slump is perfectly normal, and is happening to other states across the country as well. Historically, sportsbooks will be back with record numbers when we see the March sports betting reports. So, getting the best gambling software to get you started in the sports betting industry will remain to be a lucrative endeavor for many.
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