When Pennsylvania launched regulated daily fantasy sports last year, we knew football season would provide a boon. Similarly, we expected a drop-off once said season concluded.
Indeed, that’s what happened in January.
According to financials released by the Pennsylvania Gaming Control Board (PGCB) on Wednesday, PA daily fantasy sports generated $2,116,498.93 in adjusted revenue last month. That total, which resulted in $317,474.59 in state taxes, represents a 26 percent decrease from December figures.
All told, five of seven DFS operators that reported revenue in January saw month-to-month declines.
Football’s end brings PA fantasy sports downturn
Since the NFL and college football seasons kicked off last fall, PA fantasy sports took off.
Between August and September, total revenue jumped 126 percent to more than $2.1 million. Overall revenue has not dipped below $2 million since that time.
While January’s total marked the fifth-straight month finishing above that mark, DFS in the Keystone State accounted for the industry’s lowest month since August.
|Operator||Jan. 2019 Revenue||Tax|
|Yahoo Fantasy Sports||$41,878.21||$6,281.73|
DraftKings, FanDuel continue to reign
The big dogs continue to eat in PA fantasy sports. DraftKings and FanDuel accounted for 95.6 percent of the state’s DFS revenue.
But the margin between the two continues to narrow.
DraftKings again sat atop the list of top earners, the eighth-straight month it has done so. In January, DraftKings reported $1,026,565.22 in revenue for its fifth-consecutive month finishing in seven figures. Yet that figure is its lowest since August.
After cutting a near-$330,000 difference to just $33,000 in December, FanDuel reported $998,218.08 in revenue last month. While that total is FanDuel’s lowest since September, the $28,347.14 difference is the closest it has been to its chief DFS competitor since July.
With football now completed, the diversity and depth of DFS offerings will determine which operator has the tools to take the top spot in the coming months.
Rest of the field also declines
Only Yahoo Fantasy Sports and Boom Fantasy enjoyed revenue upticks in January. And Yahoo did so in a big way.
The DFS operator had yet to top $23,000 in Pennsylvania. In fact, during the previous month, Yahoo reported a loss of $88,878.96 that essentially resulted in a $13,331.84.
That turned around in January, during which Yahoo generated $41,878.21 in revenue. The company is up an eye-opening $129,000 month-to-month and nearly $20,000 more than its previous best month.
Boom Fantasy’s total of $854.78 represents the operator’s third-best month since launch, up almost exactly $33 from December’s figures.
The other three operators saw revenues take a downturn in January:
- DRAFT: $35,986.44 (lowest since September)
- Sportshub Technologies: $8,795.00 (down nearly $40,000 from December)
- Fantasy Draft: $4,201.20 (down about $4,000 month to month)