Sportsbook Handle Dips To $661 Million In Pennsylvania In February

Written By Corey Sharp on March 20, 2024
Seesaw with the words

Sportsbooks took a hit in production, with the Super Bowl as the only NFL game scheduled last month. The Pennsylvania Gaming Control Board (PGCB) reported $661.7 million in total bets and $50.4 million in revenue for the state in February.

PA online sportsbook handle displayed a stronger February this year than last. The Keystone State recorded a 10.4% year-over-year increase.

PlayPennsylvania Managing Editor, Dave Briggs, said:

“While the Super Bowl is a tremendous betting event, the fact it was the only NFL or college football game in February clearly had an impact on Pennsylvania betting totals, leading to a 23% decline from January. The good news is February handle was up over 10% from February of 2023.”

February 2024 numbers for Pennsylvania sports betting

💰 Handle: $661.7 million (22.9% MoM decrease; 10.4% YoY increase)

💸 Revenue: $50.4 million (48.1% MoM decrease; 19% YoY decrease) / Adjusted Gross Revenue (taxable): $30.3 million

👐 Hold: 7.6% (down from 11.4% last month)

💻 Percent of bets placed online: 94.8%

🎁 Promotional credits: $20.2 million

🧾 February sports betting taxes: $10.9 million

🏢 State and local entities: $605,052

📱 Top sports betting app by handle: FanDuel Sportsbook PA with $276 million

📱 Top sports betting app by revenue: FanDuel Sportsbook PA with $24.7 million

Quick analysis from February PA sports betting figures

  • Despite the fifth full football season winding down in February, PA online sportsbooks have not matured yet. It’s the sixth straight month of operators producing year-over-year increases. March is expected to continue the trend, mainly because of the NCAA Tournament. PlayPennsylvania is projecting around $800 million in handle this month.
  • ESPN Bet PA is emerging as the third operator, in terms of handle, behind market leaders FanDuel Sportsbook PA and DraftKings Sportsbook PA. Since replacing Barstool last November, ESPN Bet has certainly had its fair share of bumps. However, the operator made $1.2 million in gross revenue, the most ever since debuting. ESPN Bet has cut down on promotional spending and, little by little, increasing revenue. Perhaps it’s starting to gain some traction in the Keystone State.
  • Caesars Sportsbook PA turned in a bad month of February. The operator came in fifth in handle, behind BetMGM Sportsbook PA, and actually lost money after recording a -0.3% hold last month.

PA online sportsbook handle by operator in February 2024

LicenseeOnline BrandHandleRevenueHoldTaxes
Valley ForgeFanDuel$276,101,981$24,713,5029.0%$6,383,237
Hollywood MeadowsDraftKings$177,255,919$13,934,4657.9%$2,763,635
Hollywood Penn NationalESPN BET$52,210,976$3,310,9226.3%$420,083
Hollywood MorgantownBetMGM$36,734,788$2,494,1196.8%$153,655
Harrah's PhiladelphiaCaesars$31,585,137($89,389)-0.3%($180,713)
Rivers PittsburghBetRivers$23,546,319$1,706,8377.2%$379,924
Rivers PhiladelphiaPlaySugarHouse$16,650,476$675,6564.1%$150,509
Hollywood YorkFanatics$15,930,272$1,576,9549.9%$145,650
ParxbetParx$14,936,803$872,9775.8%$239,061
Live PhiladelphiaBetway$6,139,067$314,9265.1%$113,373
Mohegan PennsylvaniaUnibet$5,122,730$352,5256.9%$120,145
Wind CreekWind Creek$1,643,908$75,3184.6%$27,115
Live Pittsburgh$1,128,582$211,43618.7%$76,117
Mohegan Lehigh Valley$881,258$49,7155.6%$17,897
South Philadelphia Race & Sportsbook$828,813$90,71210.9%$32,656
Presque Isle Downs$560,182$116,91720.9%$42,090
Mount AiryFox Bet$517,592($408)-0.1%($147)
Parx Shippensburg$57,010$18,49232.4%$6,657
Total$661,740,812$50,425,6787.6%$10,890,946
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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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