- Between the big two, DraftKings continues to lead FanDuel in both entry fees and revenue.
- Among the smaller operators, Draft.com had a big month, doubling total entry fees from $204 million to $412 million.
- Yahoo is back in profit, netting $21,000 in net gaming revenue on $478,000 in entry fees.
- The State of Pennsylvania collected $435,000 in tax revenue in October, taking its total for the first six months of the regulated DFS market to $1.38 million.
With the NFL and now the NBA seasons underway, revenue from Daily Fantasy sports in the regulated Pennsylvania market exploded in October. At $2.9 million, it represents month-over-month growth of 36%.
Between the big two, DraftKings continues to lead FanDuel in both entry fees and revenue. The relative gap between the two remains equal, with both enjoying growth of 32% from September to October.
Among the smaller operators, Draft.com had a big month, doubling total entry fees from $204 million to $412 million. Fantasy Draft also nearly doubled in size in October.
SportHub—exclusively a DFS operator in basketball with its Fanball product—also sprung to life with the start of the NBA. It took in $230 million in entry fees in October—seven times more than the five prior months combined and placing it on almost equal footing with Fantasy Draft.
Even more impressive, with its healthy 18% gross win margin—by far the largest of any operator active in October—it made $42,000 in net gaming revenue, placing it a clear third in the market ahead of all other “second tier” operators (Draft.com, Yahoo Fantasy and FantasyDraft).
As reported in October, Yahoo had reported a net loss for the first five months of the year due to an evermore aggressive strategy of returning all entry fees back to players through guaranteed prizes and other forms of rewards and promotions.
This changed in October, with the operator netting $21,000 in net gaming revenue on $478,000 in entry fees. While that 4.6% gross win margin is still much narrower than that of FanDuel and DraftKings, which both maintain margins in double digits, it was the company’s largest to date and enough to take it back into profit for the six month period.
The increased gaming activity naturally led to more tax revenue for Pennsylvania. It collected $435,000 in October, taking its total for the first six months of the regulated DFS market to $1.38 million.
