Pennsylvania’s Sportsbooks Declare Victory After Eagles’ Super Bowl Loss

Although Philadelphia Eagles fans may continue to hurt after their team’s loss to the Kansas City Chiefs in Super Bowl 57, the state’s sportsbooks are celebrating by taking home close to $30 million in total revenue.

The Eagles’ trip to the NFL title game brought an unprecedented record handle to Pennsylvania’s sportsbooks with over $84 million in total wagers accepted.

Since the Eagles reached the Super Bowl, casual bettors in Pennsylvania leaned heavily toward supporting their home state team. DraftKings PA Sportsbook reported that over 83% of the total money bet with them were on the Eagles. 

Almost $74 million was bet through PA online sports betting outlets, while just over $10 million was wagered in-person at Pennsylvania physical sportsbooks.

Pennsylvania’s bookmakers received their windfall in large part to the Eagles becoming the first NFL team to make the Super Bowl from a state with legalized sports betting.

Last year, the Pennsylvania online sports betting outlets took home $4.5 million on a $68 million handle, a 6.7% hold percentage. This year, powered by PA online betting through companies such as FanDuel and DraftKings, the state’s sportsbooks held a whopping $29.7 million after payouts for a hold percentage of 35.2%.

In comparison, Nevada’s all-time record for hold percentage for a Super Bowl occurred in 2005 as sportsbooks in Vegas and surrounding cities held onto 17% of all bets. This year, Nevada handled $153 million in wagers, but held onto just $5.3 million for a hold percentage of just 3.5%.

With Las Vegas as a prime destination to watch the Super Bowl, Nevada will not relinquish their place at the top of the mountain anytime soon when it comes to total handle. But Pennsylvania’s incredible hold percentage for this year’s Super Bowl, even with help from the Eagles, has certainly turned heads in the American sports betting market.