Total revenue from fantasy sports in April enjoyed a somewhat surprising uptick sequentially, growing from $1.64 million in March to $1.85 million last month. It comes during a period of normal sequential decline. This could reflect an uptick in activity during NBA playoffs, which started in mid-April.
For the first time since the regulated market opened one year ago, FanDuel took the lead from DraftKings in both entry fees ($8.6 million compared to $7.7 million) and revenue ($962,000 vs $846,000).
The gross win margin for both were practically equal, at 11%.
For the third month running, Draft.com remained the clear third in the market in terms of revenue, generating $23k in revenue, well ahead of fourth-placed Yahoo Fantasy, at $16k. It also clearly holds that distinction in terms of entry fees.
Draft.com managed to maintain its healthy gross win margin in double digits. Yahoo, which has flirted with negative margins in the past, enjoyed a positive margin of 4.6%, its highest since November 2018.
The tax man collected $278,000 in tax revenue in April, the highest since January. With April in the books, the market has now celebrated its one-year birthday. In this time, a total of $3.38 million has been paid in tax revenue to the state.