The Pennsylvania Gaming Control Board released its numbers from February, and with just one major football game last month, it wasn’t a surprise that the Keystone State's legal sports betting handle fell 22% month-over-month.
However, having one of the teams in the Super Bowl certainly made the drop-off more bearable and greatly impacted revenue as the Philadelphia Eagles lost to the Kansas City Chiefs.
Pennsylvania took in $599.5 million in wagers in February, which was 0.41% more than the same month in 2022. That represented nearly $2 million more in handle from a year ago, but the revenue was -$442,847.
This February, the state claimed a gross revenue of $62.2 million, which was up 6.8% month-over-month, and a hold of over 10.3% — up nearly 3% from January.
Online sports betting sites gave away $19 million in promotions, so the adjusted revenue topped out at $43.2 million, and the state received nearly $14.7 million in taxes. An additional $864,603 went to local jurisdiction.
Pennsylvania sports betting also crossed $20 billion in handle all time.
FanDuel stays strong
FanDuel was the big winner in Pennsylvania, with nearly 40% of the state’s entire handle coming from the online sportsbook and partnership with Valley Forge Casino. The $23.4 million revenue was also tops in the Keystone State and dwarfed DraftKings — which is partnered with The Meadows.
BetMGM, through Parx Casino, was a distant third in revenue at $1.8 million on a handle of $14.7 million.
Barstool Sportsbook (Penn National) hauled in the third-largest handle of February 2023 with $33.3 million, but only claimed a profit of around $1.5 million. Lastly, Rivers Philadelphia (BetRivers) claimed the state's best retail sportsbook revenue at $1.08 million.
