Pennsylvania Sportsbooks Continue February Betting Decline Trend

• 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.

Revenue Decline

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.

News tags: Pennsylvania | Pennsylvania Gaming Control Board | Pennsylvania sports betting | Pennsylvania Sports Betting Handle