Philadelphia Eagles Success Behind Incredible Revenue Jumps for Pennsylvania Sportsbook

The end of 2022 was incredible in terms of betting handle for the Keystone State sportsbooks. After a very successful November with a $789.2 million handle, Pennsylvania bookmakers almost repeated in December when they had $754.8 million in the betting. Looking at year-over-year numbers, betting companies had a December increase of 0.6%.

Staggering Revenue Numbers

While bettors invested comparable numbers in the handle, bookmakers had insane YoY December revenue. For example, sportsbooks had an income of $71.6 million which is 1.7% more than the previous month and a massive increase of 87.7% if we compare it to last December.

Chris Imperiale from PlayPennsylvania commented that YoY numbers would level off. He attributed strong December results to huge attention for the NFL and Philadelphia Eagles, who secured the number one seed in the NFC. December revenue is 5.3% below record-breaking October numbers, but there is a steady rise in wagers.

December Sports Betting Numbers

Sportsbooks in Pennsylvania had a great December. The same could be said about PA online betting. According to PGCB, the handle was $754.8 million, which is 4.4% lower than in November, but a 0.6% year-over-year increase. The revenue made December special with $71.6 million or adjusted gross revenue of $54.6. Both figures are huge month-over-month and YoY increases.

Numbers reveal that the overwhelming majority of placed bets were online wagers, and bettors used over $16 million in promotional credits. Pennsylvania got $18.6 million in betting taxes, and FanDuel Sportsbook had the biggest handle and revenue.

What Do These Numbers Mean?

October was the best month regarding activity, but December didn’t disappoint. Long into the NFL season, the Keystone State bookmakers had fewer promotional credits while simultaneously having the highest gross revenue number.

FanDuel is dominating the market, and it has a 41% share of the online betting industry in the state and holds more than half of the total revenue. DraftKings is a distant second with a 27% share. BetMGM and Barstool follow the leading duo in sportsbook revenue.