PA Sportsbooks Experienced February Dip As Lifetime Handle Hits $20 Billion

Written By Corey Sharp on March 17, 2023 - Last Updated on May 23, 2023
pa sportsbook revenue february

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

LicenseeOnline BrandHandleRevenueHoldTaxes
Valley ForgeFanDuel$235,162,454$32,205,97813.7%$8,434,070
Hollywood MeadowsDraftKings$157,327,408$14,197,1659.0%$3,692,651
Hollywood MorgantownBetMGM$43,396,666$3,971,7739.2%$375,853
Hollywood Penn NationalBarstool$33,299,412$2,388,1747.2%$531,381
Harrah's PhiladelphiaCaesars$29,985,333$549,7621.8%-$73,478
Rivers PittsburghBetRivers$27,180,134$1,549,7635.7%$298,690
Rivers PhiladelphiaPlaySugarHouse$19,351,618$1,655,5068.6%$559,710
Hollywood YorkPointsBet$10,397,596$859,7658.3%$174,817
Live PhiladelphiaBetway$7,825,585$1,082,34213.8%$389,643
Mount AiryFox Bet$5,660,171$653,58211.5%$227,650
Mohegan Sun PoconoUnibet$5,194,522$409,2517.9%$72,299
Wind CreekWind Creek$3,659,984-$86,890-2.4%-$32,100
Mohegan Lehigh Valley$2,087,014$156,2457.5%$56,248
South Philadelphia Race & Sportsbook$1,494,576$274,91718.4%$98,970
Live Pittsburgh$1,308,043$58,3904.5%$21,020
Presque Isle DownsTwinSpires$1,076,267$110,06710.2%$39,624
Parx Malvern$333,199$71,45221.4%$25,723
Parx Shippensburg$45,367$6,45514.2%$2,324
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Corey Sharp

Corey Sharp is the Lead Writer at PlayPennsylvania bringing you comprehensive coverage of sports betting and gambling in Pennsylvania. Corey is a 4-for-4 Philly sports fan and previously worked as a writer and editor for the Philadelphia Inquirer and NBC Sports Philadelphia.

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