- Pennsylvania’s sports betting handle decreased 14% from March to April.
- This dip is very similar to the dip seen in New Jersey.
- However, other states saw far larger dips - well over 20%.
PHILADELPHIA - Pennsylvania saw a dip in April’s sports betting revenue compared to March’s sports betting revenue.
In April, Pennsylvania’s total sports betting handle was $479.4 million, which was down 14% from March’s $560.3 million total handle.
This drop is expected, due to March Madness boosting the March sports betting handle, and no comparable events in April.
However, other forms of gambling managed to make up the difference, and April saw a slight increase in total gambling revenue for PA.
This gambling revenue drop-off has been mirrored in other states, and seems to be expected.
For example, in New Jersey, sports betting handle decreased by 13% from March to April.
The similarity of the decrease by percentage should not be lost on anyone - this is what happens after March Madness.
In New Jersey, the decrease in actual tax revenue was 9.7%, while in Pennsylvania, the decrease in tax revenue was 10.4 %.
Again, the similarity remains - the decrease in tax revenue was a smaller percentage decrease than the decrease in betting handle.
In addition, both PA and NJ have similar splits in terms of where gambling is done - in both states, 91% of bets are placed via mobile and online sports betting platforms.
However, other states have seen much larger drops from March to April, which raises some questions as to why.
Michigan saw a 28.5% decrease in sports betting handle from March to April, while Indiana saw a 25% decrease, and Iowa saw a 26.7% decrease.
New Jersey and Pennsylvania have some of the most established online betting infrastructure, and so some of their relatively lower decreases could be due to that.
Similarly, Michigan and Indiana are big basketball states, and could have seen outsized interest in March Madness.