Legal sports bets steady as Pennsylvania sports books prep for March Madness

Sports books in Pennsylvania didn’t see a bump in wagers in February, though many took the first legal Super Bowl bets in the state.

Now, they’re hoping for a March Madness windfall as the NCAA men’s basketball tournament approaches.

The state’s six sports books operational by February reported a $31.5 million handle — the amount wagered by bettors — compared to a $32 million handle in January, according to figures provided by the Pennsylvania Gaming Control Board.

February wagers yielded about $700,000 in state and local tax revenue.

It’s not shocking to see those numbers drop from January to February, said Dustin Gouker, lead sports betting analyst with the gambling news site PlayPennsylvania.

“There’s just a lot more football to bet on in January,” Gouker said.

Total wagers in Nevada, where the sports betting market is more mature, typically decline in February as football bowl games and championships wrap up, he said.

Bettors at Rivers Casino on Pittsburgh’s North Shore wagered $8.1 million in February — about $1.4 million less than in January — as the casino hosted hundreds for the Super Bowl on Feb. 3.

Sports books at Penn National Race Course near Harrisburg and Philadelphia’s SugarHouse Casino also saw their handles shrink. Those sports books also opened in late 2018 and, like Rivers, have been taking bets for at least three months.

“Hockey has done well — the Penguins certainly have a nice following — but you don’t have those football games to be your core for those other months,” said Andre Barnebei, vice president of gaming at Rivers.

Though there was a dip in wagers, other parts of the casino, like food and beverage sales, have received a lift as patrons trickle into the casino earlier and stay for the duration of games throughout the day, Barnebei said.

Rivers is gearing up for the NCAA men’s basketball tournament by offering sales on tables and seats in the sports book so guests can secure a spot to watch games all day.

The American Gaming Association predicts Americans will wager a total of $8.5 billion during March Madness this year, with one in five adults — or 47 million people — placing a bet, according to a study released Monday. That’s double the number of American adults the industry trade group predicted would place any type of bet on the Super Bowl this year.

Brackets are still the most popular way to bet during March Madness, according to the study, which predicts about 40 million people will participate in some type of bracket betting this year.

The study predicts about 4.1 million people nationwide will place a legal bet at a casino sports book or using a legal app, while about 7.6 million people will place their bets illegally with a bookie or online through an offshore website.

“These results indicate there’s still work to do to eradicate the vast illegal sports betting market in this country, and we’re committed to ensuring sound policies are in place to protect consumers, like the 47 million Americans who will bet on March Madness,” said Bill Miller, president and chief executive officer at the American Gaming Association.

Sports betting is legal in eight states, including Pennsylvania, Delaware, Nevada, Mississippi, New Jersey, New Mexico, Rhode Island and West Virginia.