FanDuel and DraftKings are living large and clearly in charge of Pennsylvania’s fantasy sports revenue.
The Pennsylvania Gaming Control Board (PGCB) released fantasy sports revenue for May 2019. These numbers show a net revenue of $1,803,056, which is an increase of 35% from May 2018.
Of note, in May, PGCB released the first full fiscal year of collected tax revenues for fantasy sports. May’s report marks the first opportunity to compare fantasy sports revenue from year-to-year.
FanDuel and DraftKings on top as usual
Again, no surprises here.
In third place, DRAFT netted $18,001, a downright paltry sum compared to the eye-popping numbers that FanDuel and DraftKings generate.
Of note, Yahoo Fantasy Sports’ revenue soared when comparing the year-on-year increase by 91% or $8,463 from $4,430.
FanDuel trending onward and upward
Quite possibly, FanDuel will continue to outearn DraftKings in fantasy sports revenues.
In April, PGCB reported for the first time that FanDuel surged ahead of DraftKings in entry fees for a single month. Tracked revenue showed gains of $961,867 versus $845,533.
This month, the trend continues with FanDuel leading the way with $960,155 compared to DraftKings’ $813,346.
At any rate, it is possible that players are more comfortable with FanDuel’s brand name recognition. FanDuel’s partnership with the Valley Forge Casino Resort makes it the only daily fantasy sports operator in PA to partner with a casino.
In addition, FanDuel is the only operator ready to launch an online sportsbook in PA sometime this summer.
PA sports betting reigns supreme
In comparison, sports betting yields much more in tax revenue than daily fantasy sports.
For example, in May, the Keystone State collected $2.8 million in tax revenue alone from sports betting. Daily fantasy sports only yielded $270,458.
At least partially, the difference in revenue is attributed to the tax rate. Sports betting is taxed at 36% while daily fantasy sports are taxed at 15%.
However, sports betting revenues will only continue to rise with the impending launching of online sports betting apps.
Recently, PlaySugarHouse.com launched in Pennsylvania as the first online sports betting app. In just four days and with a limited release due to not being available in the Apple Store, it still generated $573,163.
Below, compare the year-to-year Pennsylvania fantasy contests revenue which is up 35% in May.
|Fantasy Contest Operator||May 2019||May 2018||% Change|
|Yahoo Fantasy Sports||$8,463||$4,430||91.01%|
*FastPick.com stopped providing fantasy contest in Pennsylvania in July 2018