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. 411t3r
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 of incentives.
Yahoo had its best month to date in 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.