Pennsylvania sportsbooks started 2023 recording north of $772.3 million in January betting handle. January’s total finished slightly higher from December’s $754.2 million handle. It’s a 2.7% year-over-year decrease from January 2022.
Sports betting revenue fell just shy of $58 million for the month, which is down 18.6% month-over-month.
“Despite the lack of year-over-year growth, Pennsylvania sportsbooks had another solid showing in January, posting $772 million in handle,” said Chris Imperiale, Managing Editor for PlayPennsylvania. “This exceeded December’s figures by about $17 million, but fell 2.7% below January 2022 totals. The Philadelphia Eagles’ push to the Super Bowl likely propelled the quality month.”
January 2023 numbers for Pennsylvania sports betting
Figures from the Pennsylvania Gaming Control Board:
- Handle: $772.3 million (2.4% MoM increase; 2.7% YoY decrease)
- Revenue: $58 million (18% MoM decrease; % YoY increase) / Adjusted Gross Revenue (taxable): $ 39.3 million
- Hold: 7.5% (down from 9.5% last month)
- Percent of bets placed online: 93.2%
- Promotional credits: $ 18.7 million
- January sports betting taxes: $13.3 million to the state and local entities
- Top sports betting app by handle: FanDuel Sportsbook with $ 310.3 million
- Top sports betting app by revenue: FanDuel Sportsbook with $ 35.5 million
Quick analysis from January PA sports betting figures
- PA sportsbooks recorded strong numbers to start 2023. With the sports calendar diminishing as the NFL regular winds down, the $772.3 million, beating out December’s total, is an impressive figure.
- FanDuel PA Sportsbook has led the Keystone State in online market share for several months, and seemed to open an even greater margin. In January, FanDuel’s controlled 43% of market share compared to DraftKings PA Sportsbooks‘ 28%.
- FanDuel Sportsbook is recording terrific hold rates. FanDuel’s hold rate is 11.4% and revenue share is 65% of the market. DraftKings is second a 14% revenue share.
PA sports betting handle & revenue by operator January 2023
| Licensee | Online Brand | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|---|
| Valley Forge | FanDuel | $313,035,919 | $35,692,989 | 11.4% | $9,695,382 |
| Hollywood Meadows | DraftKings | $202,526,441 | $7,955,576 | 3.9% | $1,475,197 |
| Hollywood Morgantown | BetMGM | $53,648,055 | $4,889,284 | 9.1% | $785,936 |
| Hollywood Penn National | Barstool | $41,840,398 | $2,096,488 | 5.0% | $522,908 |
| Harrah's Philadelphia | Caesars | $35,632,466 | $954,141 | 2.7% | $131,085 |
| Rivers Pittsburgh | BetRivers | $33,534,653 | $2,055,963 | 6.1% | $384,456 |
| Rivers Philadelphia | PlaySugarHouse | $23,191,134 | $676,229 | 2.9% | $199,439 |
| Parx | betParx | $18,521,299 | $1,080,111 | 5.8% | $285,214 |
| Hollywood York | PointsBet | $15,174,479 | $803,789 | 5.3% | $86,610 |
| Live Philadelphia | Betway | $8,194,443 | $581,740 | 7.1% | $209,426 |
| Mount Airy | Fox Bet | $7,943,297 | $547,992 | 6.9% | $189,382 |
| Mohegan Sun Pocono | Unibet | $6,737,544 | $431,217 | 6.4% | $88,389 |
| Wind Creek | Wind Creek | $3,664,750 | -$272,511 | -7.4% | -$98,981 |
| Mohegan Lehigh Valley | $2,508,369 | $28,772 | 1.1% | $10,358 | |
| Presque Isle Downs | TwinSpires | $2,021,078 | -$39,457 | -2.0% | -$14,564 |
| South Philadelphia Race & Sportsbook | $1,857,299 | $253,141 | 13.6% | $91,131 | |
| Live Pittsburgh | $1,782,999 | $238,379 | 13.4% | $85,816 | |
| Parx Malvern | $471,134 | $7,239 | 1.5% | $2,606 | |
| Parx Shippensburg | $3,894 | $986 | 25.3% | $355 | |
| Total | $772,289,648 | $57,982,069 | 7.5% | $14,130,145 |
