Sportsbooks Generate Just Over $858M In Pennsylvania Handle In January

Written By Chris Imperiale on February 20, 2024 - Last Updated on February 21, 2024
Photo showing Jalen Hurts and the Eagles for a story about the Keystone State sports betting market producing just over $858 million in total bets this January.

With the NFL playoffs in full effect last month, the Pennsylvania Gaming Control Board (PGCB) reported just over $858 million in total bets for the state. This was the first time in three months the market failed to reach $900 million in handle.

PA online sportsbooks produced a strong month, though. They generated about $97.7 million in revenue, a drastic jump from a year ago.

‘Came back down to Earth’

PlayPennsylvania Managing Editor, Chris Imperiale, said:

“The Pennsylvania sports betting market came back down to Earth in January, accepting just over $858 million in total bets. Even though last month saw a dropoff of about 7% from December, it was the fourth consecutive month with the total handle surpassing $800 million after the market had never done so. While the performance appears sluggish following two months with handle over $900 million, January’s total bets were up more than 11% year over year. The NFL postseason provided much of the action, and with just Super Bowl betting remaining in February, expect for handle figures to decrease going forward.”

January 2024 numbers for Pennsylvania sports betting

💰 Handle: $858.1 million (7.3% MoM decrease; 11.1% YoY increase)

💸 Revenue: $97.7 million (0.4% MoM decrease; 68.5% YoY increase) / Adjusted Gross Revenue (taxable): $69.9 million

👐 Hold: 11.4% (up from 10.6% last month)

💻 Percent of bets placed online: 94%

🎁 Promotional credits: $27.8 million

🧾 January sports betting taxes: $23.8 million

🏢 State and local entities: $1.4 million

📱 Top sports betting app by handle: FanDuel Sportsbook PA with $373 million

📱 Top sports betting app by revenue: FanDuel Sportsbook PA with $55 million

Quick analysis from January PA sports betting figures

  • With the football schedule winding down in January, Pennsylvania sportsbooks showcased a solid month. The Keystone State could be considered a mature market as the sixth full season of football betting just ended, however, the 11% year-over-year increase suggests the market is still as strong as ever.
  • Pennsylvania sportsbooks have recorded back-to-back months of double-digit hold percentages. After a dismal performance in November, calculating a 5.3% hold rate, operators posted rates of 10.6% and 11.4% in December and January, respectively. It helped the Keystone State generate $69.9 million in monthly revenue, which is the second-highest total this fiscal year.
  • For the second time in three months, ESPN Bet PA turned in a loss of gross revenue. The operator generated a solid $76.1 million in handle, behind FanDuel Sportsbook PA and DraftKings Sportsbook PA, however, it could only make only $1.8 million in revenue. After nearly $2 million in promo credits, the operator lost $142,417 for the month.

PA online casino revenue by operator in January 2024

LicenseeOnline BrandHandleRevenueHoldTaxes
Valley ForgeFanDuel$373,007,112$55,007,20714.7%$14,240,421
Hollywood MeadowsDraftKings$211,984,552$24,298,15611.5%$6,852,220
Hollywood Penn NationalESPN BET$76,074,817$1,766,0882.3%($51,270)
Hollywood MorgantownBetMGM$47,546,613$6,248,01713.1%$1,281,472
Harrah's PhiladelphiaCaesars$40,012,352$1,047,7542.6%$205,624
Rivers PittsburghBetRivers$34,365,777$2,673,6287.8%$642,349
Rivers PhiladelphiaPlaySugarHouse$21,128,763$1,278,7736.1%$334,683
Hollywood YorkPointsBet$11,516,646$1,457,59812.7%$367,299
Live PhiladelphiaBetway$7,300,791$807,30311.1%$290,629
Mohegan PennsylvaniaUnibet$6,864,144$452,6986.6%$152,518
Wind CreekWind Creek$1,682,972$96,4875.7%$34,469
Live Pittsburgh$1,608,224$39,5862.5%$14,251
South Philadelphia Race & Sportsbook$1,419,340$236,79416.7%$85,246
Presque Isle Downs$1,124,494($37,437)-3.3%($13,477)
Mohegan Lehigh Valley$1,108,846$187,54116.9%$67,515
Mount AiryFox Bet$758,295$73,5649.7%$26,483
Parx Shippensburg$46,273$8,60318.6%$3,097
Parx Malvern----
Photo by Phelan M. Ebenhack / AP
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Chris Imperiale

Chris Imperiale is currently the managing editor of Catena Media's US online lottery site, PlayiLottery. He used to be the Managing Editor of PlayPennsylvania, covering legal sports betting and casino gambling in Pennsylvania and the Northeast US. He has a journalism degree from Rutgers University and was formerly on staff at Bleacher Report.

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