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First Year Of Regulated Fantasy Sports Nets $3.4 Million For PA

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PA fantasy sports performance

The Pennsylvania Gaming Control Board (PGCB) recently posted the first full year of collected tax revenues from fantasy sports. In the fiscal year, fantasy sports generated a total of $3.38 million in collected tax revenues. The total revenue for fantasy operators in 12 months was $22.54 million.

DraftKings and FanDuel lead the way

Once again, the industry heavyweights, DraftKings and FanDuel lead the rest of the operators in adjusted revenue. Combining the two operators, they controlled 97.5% of April 2019’s revenue.

From May 2018 to April 2019, DraftKings and FanDuel also dominated the market share with 96.8% of Pennsylvania’s total fantasy sports revenue.

FanDuel pulls ahead of DraftKings for April 2019

For the first time, PGCB reported that FanDuel outpaced DraftKings in entry fees and revenue over a single month. Entry fees for the month of April 2019 were $8.6 million for FanDuel, compared to $7.7 million for DraftKings. Tracked revenue also demonstrated the same gains at $961,867 versus $845,533.

At any rate, it could be that FanDuel is beginning a trend for market dominance here in Pennsylvania. However, it is also possible that April was a one-off event.

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DraftKings on outside looking in

As of now, FanDuel is the only daily fantasy sports operator in PA ready to launch an online sportsbook. Recall that in PA, the law requires each casino to have no more than a single skin of online betting.

Although DraftKings was the leader in PA fantasy last year with more than $11 million, it is currently without a sports betting partner. Certainly, this adds more support to our theory that FanDuel is beginning a trend for market dominance in PA.

PA sports betting is still king

Fantasy sports was previously unregulated. However, Pennsylvania operators now have to fork over 15% tax on revenue generated by PA players.

In contrast, sports betting alone has netted the Keystone State almost twice the amount of tax revenue in just half the time. With the impending launch of sports betting apps, we project that sports betting revenue will keep multiplying.

To illustrate, New Jersey retail sports betting netted $4.6 million in April and their online betting revenue netted $16.5 million.

Below, listed in tables, are fantasy contests with adjusted revenue and tax revenue for each PA provider for April 2019 and the preceding 12 months are on display:

Fantasy Contests ProviderApril 2019
Fantasy Contests Adjusted Revenue
April 2019
Fantasy Contests
State Tax Due
Total$1,852,551.61$277,882.75
DraftKings$845,553.33$126,833.00
FanDuel$961,867.32$144,280.10
DRAFT$23,348.60$3,502.29
Yahoo Fantasy Sports$15,864.70$2,379.71
Sportshub Technologies$3,627.45$544.12
Fantasy Draft$1,918.83$287.82
Boom Fantasy$371.38$55.71
Fantasy Football Players Championship$0.00$0.00
Full Time Fantasy Sports$0.00$0.00
Fantasy Contests ProviderMay 2018 - April 2019
Fantasy Contests Adjusted Revenue
May 2018 - April 2019
Fantasy Contests
State Tax Due
Total$22,542,688$3,381,403
DraftKings$11,549,460$1,732,419
FanDuel$10,274,886$1,541,233
DRAFT$320,105$48,016
Fantasy Football Players Championship$184,932$27,740
Sportshub Technologies$114,812$17,221
Fantasy Draft$41,103$6,165
Yahoo Fantasy Sports$28,128$4,219
Full Time Fantasy Sports$16,095$2,414
Boom Fantasy$12,785$1,918
FASTPICK.COM*$381$57

*Withdrew as PA operator

About

Vanessa Lutz graduated from Washington and Lee University School of Law with a J.D. She played poker professionally and then took some time off to have a family. Now she is combining her experience as a contributor to PlayPennsylvania.

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