In figures released by the Pennsylvania Gaming Control Board (PGCB) it shows fantasy sports contests have once again been hugely popular in the state generating $2.15 million in revenue for the operators.
The figures released showed September fantasy sport revenue doubled compared to August and are 40% bigger than the previous best month on record which was May. This can be put down in part to the NFL starting, which always sees a bumper effect across the board when it comes to the popularity of fantasy sports contests.
However, the taxman is getting his fair share too as figures show $320,000 in tax revenue for the month of September, taking the total in the five months since the market launched to almost $1 million—$946,000 paid back to the state.
Once again DraftKings is leading the pack when it comes to revenue, keeping its top stop for the fourth month in a row. In August DraftKings announced $502k in revenue, which was blown out of the water by the $1.1 million generated in September. Entry fees were up from $4.6million to $11.6million
FanDuel, which sits as DraftKings’ main competitor, grew its revenue more modestly in September, going from $424k in revenue for August to $948k in September. It grew entry fees from $4.8 million in August to $9.9 million in September. However, unlike DraftKings, FanDuel is giving more back to its players in terms of incentives.
Yahoo had its best month to date in terms of entry fees, taking $300,000 in September compared to $225,000 in August. However, Yahoo is running an even more aggressive policy than FanDuel, by returning all revenue back to its players—so for the second month on record Yahoo reported a loss. This can be seen as a positive if you are a player in Pennsylvania, as it shows that they are putting the player first.
