The Super Bowl is the last hurrah for Pennsylvania sports bettors to bet on the NFL. Pennsylvania sportsbooks saw a sharp drop-off in February handle with only one NFL game, albeit the biggest, left on the schedule.
PA sports betting operators recorded $599.5 million in February betting handle. February’s total finished lower than January’s $772.3 million handle. It’s a 0.4% year-over-year increase from January 2022.
PA sports betting revenue fell just shy of $62.2 million for the month, which is up 6.8% month-over-month.
Pennsylvania became the fourth state to cross the $20 billion threshold for sports handle.
February 2023 numbers for Pennsylvania sports betting
Figures from the Pennsylvania Gaming Control Board:
- Handle: $599.5 (% MoM increase; 0.4% YoY increase)
- Revenue: $62.2 (6.8% MoM increase; 181.4% YoY increase) / Adjusted Gross Revenue (taxable): $42.2 million
- Hold: 10.4% (up from 7.5% last month)
- Percent of bets placed online: 92.7%
- Promotional credits: $19 million
- February sports betting taxes: $ to the state and local entities: $864,603.58
- Top sports betting app by handle: FanDuel Sportsbook with $235.2 million
- Top sports betting app by revenue: FanDuel Sportsbook with $32.2 million
Quick analysis from February PA sports betting figures
- The dip in PA sportsbook handle is par for the course in February. Last year, PA sportsbooks drew $597.1 million in handle and in 2021, only $509.5 million. Seasonality is starting to take shape with only one NFL game on the books in February.
- PA became the fourth state in the country to cross $20 billion in total sports handle. Nevada, New Jersey and Illinois have all crossed that milestone.
- Hold percentages saw a noticeable increase in February, reaching the 10% threshold. The last time PA sportsbooks captured a hold percentage of more than 10% was in September 2022. Hold percentage rose from 7.5% in January.
PA sports betting handle & revenue by operator February 2023
| Licensee | Online Brand | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|---|
| Valley Forge | FanDuel | $235,162,454 | $32,205,978 | 13.7% | $8,434,070 |
| Hollywood Meadows | DraftKings | $157,327,408 | $14,197,165 | 9.0% | $3,692,651 |
| Hollywood Morgantown | BetMGM | $43,396,666 | $3,971,773 | 9.2% | $375,853 |
| Hollywood Penn National | Barstool | $33,299,412 | $2,388,174 | 7.2% | $531,381 |
| Harrah’s Philadelphia | Caesars | $29,985,333 | $549,762 | 1.8% | -$73,478 |
| Rivers Pittsburgh | BetRivers | $27,180,134 | $1,549,763 | 5.7% | $298,690 |
| Rivers Philadelphia | PlaySugarHouse | $19,351,618 | $1,655,506 | 8.6% | $559,710 |
| Parx | betParx | $14,744,078 | $2,100,804 | 14.2% | $667,768 |
| Hollywood York | PointsBet | $10,397,596 | $859,765 | 8.3% | $174,817 |
| Live Philadelphia | Betway | $7,825,585 | $1,082,342 | 13.8% | $389,643 |
| Mount Airy | Fox Bet | $5,660,171 | $653,582 | 11.5% | $227,650 |
| Mohegan Sun Pocono | Unibet | $5,194,522 | $409,251 | 7.9% | $72,299 |
| Wind Creek | Wind Creek | $3,659,984 | -$86,890 | -2.4% | -$32,100 |
| Mohegan Lehigh Valley | $2,087,014 | $156,245 | 7.5% | $56,248 | |
| South Philadelphia Race & Sportsbook | $1,494,576 | $274,917 | 18.4% | $98,970 | |
| Live Pittsburgh | $1,308,043 | $58,390 | 4.5% | $21,020 | |
| Presque Isle Downs | TwinSpires | $1,076,267 | $110,067 | 10.2% | $39,624 |
| Parx Malvern | $333,199 | $71,452 | 21.4% | $25,723 | |
| Parx Shippensburg | $45,367 | $6,455 | 14.2% | $2,324 | |
| Total | $599,529,429 | $62,214,502 | 10.4% | $15,562,864 |
