The latest monthly revenue report from the Pennsylvania Gaming Control Board has revealed that the state’s licensed sports betting operators accepted over $597 million during the month of February.
Although February was a shorter month, the latest figures still represent a significant drop of 24.8% on January’s all-time record of $793.7 million. February was also the first month since September that Pennsylvania sportsbooks accepted less than $700 million in wagers during a single month.
Once again, it was mobile sports wagers that accounted for the majority of all wagers placed as PA online sportsbooks accepted $558.1 million in wagers representing 93.5% of all betting activity throughout the month. Mobile revenue for February totaled $21.1 million, the lowest figure reported since September 2020 and 55.7% lower than the previous month. Of this figure, only $1.4 million was taxable.
Retail sports betting activity dropped by almost 31% as sportsbooks reported accepting just over $38.9 million in wagers during the month. Revenues from retail sports betting also dropped significantly from $5.7 million in the January to just over $1 million in February.
Mobile and retail sports betting operators combined to report a negative taxable revenue figure of -$442,847. This was the lowest figure posted since the sports betting launched in the state. This was due to the considerable sums paid out in promotions which amounted to a combined total of $22.6 million.
Valley Forge Casino was once again the overall sports betting market leader as the casino reported a combined retail and mobile sports betting handle of just over $215 million.
An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.