Pennsylvania fantasy sports revenue rises in August

Pennsylvania fantasy sports revenue rises in August

Wednesday, September 19, 2018 Posted by News Team
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DraftKings and FanDuel far ahead of competition

The Pennsylvania Gaming Control Board (PGCB) has reported a 7.5% month-on-month increase in fantasy sports revenues, with DraftKings continuing to lead the way. 

Fantasy sports revenue for August was $943,620.22, up from $878,184.93 in July. DraftKings and FanDuel were responsible for the vast majority of this sum, generating $502,023.71 and $424,487.40 respectively. 

In a distant third was DRAFT, with revenue of $10,763.69, followed by Fantasy Draft $3,847.78. 

Total tax of $141,543.03 was paid on seven of Pennsylvania’s nine fantasy sports licensees’ revenue. Two of the nine, Full Time Fantasy Sports and Fantasy Football Players Championship did not generate any revenue, and therefore did not have to pay the 15% gross revenue tax. 

Despite the Pennsylvania fantasy sports market reporting an increase in revenue for August, it has fallen significantly from the $1.3m posted in June, the first full month of regulated activity. September’s figures are likely to show an uptick in activity, reflecting the National Football League kick-off.

 
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