- Pennsylvania sports betting recorded a $597 million betting handle in February.
- Their February betting handle is down 24.8% from January.
PHILADELPHIA – While Pennsylvania has been one of the hottest sports betting states in the country, they have seen a declining trend since the start of 2022. In January, they saw a whopping $793,722,787 betting handle which was a record high for them.
However, their legal sports betting handle in February saw a steep 24.8% decline with just a $597,064, 048 betting handle. This marks Pennsylvania’s lowest record monthly betting handle since September 2021.
While this is a major hit on their betting handle, there is some light to shine on the situation as it is up 17.2% since February 2021 where they put up a $509.5 million handle.
With their drop in betting handle, the month to month revenue numbers also took a hit as it dropped 58.5% from the $53.4 million in revenue recorded in January. On a year to year standpoint, they struggled as well going down 33% from the $33.2 million in February of 2021. The February 2022 gross revenue came in at $22.2 million. In total, Pennsylvania sports betting recorded a $442,8487 loss in taxable revenue.
Betting Revenue Splits
Online sports betting in Pennsylvania took home the majority of the betting handle of $558.1 million which makes up 93.5% of the handle. FanDuel was responsible for $213.2 million of the handle, DraftKings for $140.1 million, BetMGM at $72.3 million, and Barstool Sportsbook for $46.8 million.
As a whole, the 13 retail sportsbooks in the Quaker State were only able to muscle in $39 million of the total February 2022 betting handle.
Samuel has been writing professionally for 4 years. He comes from a sports writing background where he enjoys writing mostly about basketball and football both professional and collegiate. He is a recent graduate of Florida State University where he majored in Editing, Writing and Media with a minor in Communications. During his free time, you can find him watching or playing sports as well as playing videogames and listening to music.