Eagles’ Super Bowl LIX win crushes Pennsylvania sportsbooks

The city of Philadelphia erupted with joy as the Eagles soared to victory in Super Bowl LIX, dismantling the Kansas City Chiefs in a dominant performance. But while fans celebrated in the streets, Pennsylvania sportsbooks were left licking their wounds, suffering massive losses at the hands of jubilant bettors.

Pennsylvania Sportsbooks Take a Hit

The latest sports betting figures for February are in, and they confirm what many suspected –Pennsylvania bettors overwhelmingly backed the Eagles, costing sportsbooks millions. According to the Pennsylvania Gaming Control Board (PGCB), taxable sports betting revenue plummeted to just $7.48 million for the month, a staggering 75% drop from the $30.2 million recorded in February 2024.

Bettors across the state wagered a record-breaking $101.5 million on Super Bowl LIX, a 20.4% increase from the previous high of $84.3 million in Super Bowl LVII. The overwhelming support for the Eagles resulted in sportsbooks losing more than $6.5 million on the game alone, turning what is typically the biggest betting event of the year into a financial disaster for operators.

Sports Betting Handle Rises Despite Revenue Slump

Interestingly, while revenues took a nosedive, total sports betting activity was on the rise. February’s total handle reached $756.9 million, a 14% increase from February 2024’s $661.7 million. This indicates that sports betting continues to grow in popularity across Pennsylvania, even if sportsbooks didn’t reap the rewards this time around.

Online betting remained dominant, generating $10.3 million in total revenue. FanDuel led the pack with $14.2 million in earnings, but it was one of the few success stories. Only four other online sportsbooks in the state turned a profit, while several operators saw significant losses. ESPN BET, partnered with Hollywood Casino Morgantown, was hit the hardest, reporting a staggering $3.08 million loss.

Retail sportsbooks didn’t fare much better, collectively losing nearly $3 million in February. Here’s a breakdown of how major operators performed:

• Valley Forge Casino (FanDuel): $284.5M handle, $13.67M revenue
• Hollywood Casino at the Meadows (DraftKings): $180.6M handle, -$153.8K revenue
• Hollywood Casino Morgantown (ESPN BET): $58.7M handle, -$3.26M revenue
• BetMGM (Hollywood Casino at Penn National): $28.2M handle, -$466.1K revenue
• Caesars (Harrah’s): $21.8M handle, -$434K revenue
• BetRivers (Rivers Pittsburgh): $20.4M handle, -$8.5K revenue
• betPARX (Parx Casino): $13.3M handle, -$752.6K revenue

Even sportsbooks operating at smaller volumes felt the pinch, proving that Eagles bettors had the last laugh across the board.

While sports betting took a major hit, Pennsylvania’s iGaming sector saw record-breaking success. Online casino gaming generated an astounding $207.6 million in taxable revenue, marking a 12% increase from February 2024.

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Leading the charge were iSlots, raking in $154.3 million, followed by iTable games at $50.9 million. Online poker also chipped in with $2.4 million in revenue. The booming online gaming industry helped offset losses from sports betting, providing the state with much-needed tax revenue. February’s iGaming tax haul reached $91.8 million, reinforcing the importance of online casinos to Pennsylvania’s gaming ecosystem.

Eagles’ Super Bowl Win: A Victory for Bettors, A Blow to Sportsbooks

For Philadelphia fans, Super Bowl LIX will be remembered as a crowning moment for the franchise. But for Pennsylvania sportsbooks, it will go down as a financial nightmare. Bettors in the Keystone State placed their faith—and their money—on the Eagles, and their loyalty paid off in a big way.

While sportsbooks will undoubtedly adjust their strategies moving forward, one thing remains certain—when the Eagles take the field, Philly fans are always ready to back their team, no matter the odds.