On Tuesday, the Pennsylvania Gaming Control Board (PGCB) released the August Fantasy Sports Contests revenue report.
For the month, all fantasy sports operators brought in $943,620 in adjusted revenue. The adjusted revenue figure equals the total entry fees collected less the prizes and awards paid to participants.
The revenue number represents an increase compared to July 2018 but is off its highs from the first two months of PGCB oversight.
Fantasy sports contest revenue for all operators to date:
- May 2018: $1,331,706
- June 2018: $1,017,862 (26.7 percent decrease month-over-month)
- July 2018: $878,184 (14.7 percent decrease month-over-month)
- Aug. 2018: $943,620 (7.2 percent increase month-over-month)
Pennsylvania DFS summary
As expected, DFS giants DraftKings and FanDuel are leading the industry. In a surprise result, FanDuel jumped out in front in May, but DraftKings has planted itself in the top spot ever since, including in Aug.
The rest of the pack is fighting for crumbs. To illustrate, DraftKings and FanDuel accounted for $1,001,273 of the $1,017,862 total adjusted revenue for the month.
Revenue for September will likely see a significant jump as regular season football is now underway. Football is the busiest time of the year for DFS, and the excitement is even more palpable this year with legalized sports betting on the horizon.
The Pennsylvania DFS market includes the following operators:
- Sportshub Technologies
- Yahoo Fantasy Sports
- Fantasy Draft
- Full-Time Fantasy Sports
- Fantasy Football Players Championship
- FanDuel PA
- Boom Fantasy
August DFS revenue by operator
|Operator||Contest Fees Collected||Adjusted Revenue||Percentage of Revenue||State Tax Due|
|Yahoo Fantasy Sports||$225,348.50||$1,358.31||0.14%||$203.75|
|Fantasy Football Players Championship||$186,593.00||$0.00||0%||$0.00|
|Full-Time Fantasy Sports||$0.00||$0.00||0%||$0.00|
Monthly DFS revenue by operator
|Operator||May 2018||June 2018||July 2018||Aug. 2018|
|Yahoo Fantasy Sports||$4,430.47||($269.18)||$1,627.97||$1,358.31|
|Fantasy Football Players Championship||$0.00||$0.00||$0.00||$0.00|
|Full-Time Fantasy Sports||$0.00||$0.00||$0.00||$0.00|
The short history of regulated DFS in PA
The PGCB began overseeing the daily fantasy sports (DFS) market in the Keystone State on April 28. It marked the first new gambling vertical made possible through the gaming expansion law.
At the time, PGCB Executive Director Kevin O’Toole issued a statement about the new era in PA gaming.
“This roll-out also marks the beginning for Pennsylvania to create new revenue through the taxation of entry fees from players registered in Pennsylvania to participate in fantasy sports contests.
“Pennsylvania residents that enter Fantasy Sports Contests can know that they are participating in a fair playing environment and assured that each licensed operator meets standards set out in the law and regulated by the Gaming Control Board.”
Initially, there were 10 DFS operators, but after a few months, that number dwindled to nine. FastPick.com exited the Pennsylvania market but still operates in New Jersey.
In the four months of oversight, the DFS operators earned nearly $4.2 million dollars. That figure resulted in $625,706 in taxes being paid into the state’s General Fund. The General Fund can be used for “general purposes” and each line item is voted on yearly by the legislature and then sent to the governor for approval.