PA Sports Betting Revenue Hits All-Time Low In February But Online Casinos Save The Day

Written By Katie Kohler on March 18, 2022 - Last Updated on March 21, 2022
Sports Betting February 2022

Sportsbooks in Pennsylvania had their worst month ever for net revenue. After paying out bettors and giving out a record $22.6 million in promos, sports betting operators combined for a loss of $442,847. PA sports betting apps and retail sportsbooks combined to take $597 million in bets in February, a 24% month-over-month decrease.

Revenue at PA online casinos and poker sites remained strong. Gross gaming revenue reached $123.7 million, a 4.8% drop from last month, and a increase 36.6% from last year. The shorter month of February resulted in a record $4.4 million in gross gaming revenue per day for online casinos and poker.

February 2022 numbers for Pennsylvania sports betting

Figures from the Pennsylvania Gaming Control Board.

  • Handle: $597 million
  • Revenue: $22.1 million/Gross revenue taxable negative $442,847
  • Hold: 3.7% (down from 6.7% last month)
  • Percent of bets placed online: 93%
  • Promotional credits: $22.6 million
  • Month-over-month: Handle decreased 24.7%; revenue decreased 58.5%
  • Year-over-year: Handle jumped 17%; revenue decreased 33%
  • January sports betting taxes: negative (-$150,568.03) to the state and an additional (-$8,856.95) to local entities
  • Top sports betting app by handle: FanDuel Sportsbook with $213.3 million
  • Top sports betting app by revenue: FanDuel Sportsbook ($5.9 million)

*Full revenue breakdown below. 

February  2022 numbers for online casinos and poker in PA

  • Online slots gross revenue: $68.1 million
  • Online table games gross revenue: $31.4 million
  • Poker revenue: $2.8 million
  • $102.4 million in taxable revenue yielded $42.3 million in state taxes and local assessments

*Full revenue breakdown below.

Four takeaways from PA gaming revenue in February 2022

Super Bowl can’t carry the month

January had five weekends of NFL football which resulted in a Pennsylvania state record for handle. There was only one football game in February – albeit the biggest one. A state-record $68 million was bet on Super Bowl 56. At the time, sportsbooks expected revenue to be about $4.5 million, a significant decrease from $9.4 million won from last year’s big game.

Sportbooks gave out lots of promos during NFL season

In February in PA, sportsbooks doled out $22.6 million in promo credits (a state record) in an effort to acquire and retain customers. Of the 14 sports betting apps in the state, three gave away the majority of the freebies to customers in February – DraftKings ($8.3 million), FanDuel ($6 million) and BetMGM ($5.6 million).

Here’s a look at how much sportsbooks have given out in promo credits since the NFL season started.

  • Sept. 2021: $19.8 million
  • Oct. 2021: $18.7 million
  • Nov. 2021: $21.2 million
  • Dec. 2022: $19.1 million
  • Jan. 2022: $21.2 million

Total gaming revenue slides for third straight month

Gross gaming revenue continued a three-month slide. Gross gaming revenue includes all forms of gaming in the state including land-based casinos, iGaming, sports betting, VGTs and DFS.

  • Feb. 2022.: $375.6 million
  • January 2022: $393.1 million
  • Dec. 2022: $406.3 million
  • October 2021: $425.9 million

So, what happened? Less busy winter months combined with the omicron surge.

Barstool Sportsbook check-in

Penn National Gaming CEO Jay Snowden made it clear that Barstool is going to rely on organic marketing and wants to be judged on net gross revenue (revenue minus promo credits).

Barstool in January 2022:

  • Revenue: $3.3 million
  • Promo credits: $1.7 million
  • NGR: $1.5 million

Barstool in February 2022:

  • Revenue: $1.9 million
  • Promo credits: $859,553
  • NGR: $1.1 million

PA sports betting handle & revenue by operator February 2022

LicenseeOnline BrandTotal HandleTotal RevenueOnline HandleOnline RevenueRetail HandleRetail Revenue
Valley ForgeFanDuel$215,047,108$5,978,636$213,152,290$5,969,187$1,894,818$9,448
Hollywood MorgantownBetMGM$72,901,730$4,319,501$72,320,602$4,268,610$581,128$50,891
Hollywood Penn NationalBarstool$48,075,172$1,979,664$46,772,593$1,986,789$1,302,579-$7,124
Rivers PittsburghBetRivers$29,087,513$1,349,434$23,969,096$1,170,536$5,118,416$178,898
Rivers PhiladelphiaSugarHouse$18,866,338$628,438$14,598,213$258,269$4,268,125$370,169
Mount AiryFox Bet$9,595,656$554,038$9,124,518$551,961$471,137$2,077
Hollywood YorkPointsBet$9,587,010$945,733$7,915,820$855,495$1,671,190$90,239
Mohegan Sun PoconoUnibet$7,620,222$526,968$6,618,459$484,594$1,001,763$42,374
Live PhiladelphiaBetway$6,194,220-$417,139$2,213,325-$122,637$3,980,895-$294,501
Presque IsleTwinSpires$6,133,574$312,527$2,893,234$155,063$3,240,340$157,464
Harrah's PhiladelphiaCaesars$5,712,260-$297,993$3,250,975-$173,263$2,461,284-$124,730
South Philly OTB$2,250,137$73,143$0$0$2,250,137$73,143
Wind CreekWind Creek$2,146,784-$43,744$1,018,495-$48,426$1,128,288$4,682
Lehigh OTB$922,294$42,900$0$0$922,294$42,900
Live Pittsburgh$644,514$7,883$0$0$644,514$7,883
Parx Malvern$179,091$58,503$0$0$179,091$58,503

PA iGaming revenue by operator in February 2022

LicenseeTotal RevenueSlotsTablesPokerPromosState/Local Taxes
Hollywood Penn National$51,639,484$36,114,105$15,241,712$283,667$8,977,896$17,132,024
Rivers Philadelphia$30,816,996$27,638,626$3,099,036$79,334$6,299,528$12,029,689
Valley Forge$19,600,645$9,848,808$9,751,836$0$1,102,619$6,283,236
Mount Airy$6,950,248$4,265,976$1,044,401$1,639,871$2,686,948$1,278,600
Live Philadelphia$3,267,911$2,564,213$703,698$0$541,429$1,204,895
Harrah's Philadelphia$3,180,107$1,897,064$404,792$878,251$362,177$1,027,329
Mohegan Sun Pocono$2,075,025$1,803,401$271,624$0$456,664$770,698
Wind Creek$1,458,669$1,367,897$90,772$0$292,607$595,180
Presque Isle$1,220,440$863,019$357,421$0$55,471$493,263

Press release: Pennsylvania Sportsbooks Slip in Post-Super Bowl Slowdown

Contact: Zack Hall, Catena Media,

Lead image by Katie Kohler

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Katie Kohler

Katie Kohler is a Philadelphia-area based award-winning journalist and Managing Editor at PlayPennsylvania. Katie especially enjoys creating unique content and on-the-ground reporting in PA. She is focused on creating valuable, timely content about casinos and sports betting for readers. Katie has covered the legal Pennsylvania gambling industry for Catena Media since 2019.

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