Legalized sports betting in the Keystone State has been on full throttle for almost four months now and it has been paying off quite decently despite the recent reports of revenue drops in February. One casino, in particular, seems to be reaping the most out of the new legalized sports betting market especially because of March Madness, the basketball tournament that is run by the National Collegiate Athletic Association (NCAA). Rivers Casino, the gambling establishment in question, has already taken in a ton on wagers and this is definitely bound to get even better along the way.
Rivers Casino has seen non-stop wagers since the tournament started and according to the Jimmy Vaccaro, the casino’s director of sports relations, the turn out will even be much better than anticipated. Vaccaro also pointed out that out of the casino’s 12 self-service sports betting kiosks, not even a single one was not being used.
“It’s steady, it just keeps coming, it’s a lot more than I thought I would be,” Jimmy Vaccaro said.
He further noted that most of the bets that have been placed on the March Madness games are on a win-loss line. There are also a number of high-risk, high-reward parlay bets where the punters are simultaneously wagering for the winners of three to five games.
The Rivers Casino sportsbook went live on December 13 sat year following the approval of its gaming license by the Pennsylvania Gaming Control Board (PGCB) in October. Since then, the Rush Street Gaming-owned company has been all the other casinos including SugarHouse Casino and Penn National Gaming a run for their money in the world of sports betting. With the impressive March Madness that it is reporting the sportsbook is definitely headed to being a dominant force in the state’s sports betting industry.
Exploiting the March Madness
The NCAA’s tournament series, otherwise referred to as March Madness is without a doubt the most active sports betting events in the United States – it comes only second to the NFL Super Bowl. In the Keystone State, close to 80 percent of the residents have already placed or are anticipated to place a bet or make a bracket at some point during the run of the NCAA tournament. More states have been embracing sports betting after acknowledging the potential of the industry when it comes to revenue most of which was previously channeled to Nevada, the only state where sports betting was legal, and illegal or unregulated offshore betting sites.
With the tournament having already kicked off, it will not be long before the Rivers Casino and other sportsbooks began to crunch the numbers to find out exactly how much money or profit they will be making.