This story was published more than 5 years ago.
This week the Pennsylvania Gaming Control Board revealed that daily fantasy sports has generated $1.38 million in tax revenue for the state, which is before any full legalized sportsbetting has been implemented.
The most recent monthly numbers showed that DFS generated $435,000 in tax revenues in October, with $320,000 the month before. The large jump comes as the NFL and NBA season got underway, providing a more interesting set of events for punters to wager on. It's likely that regular sportsbetting would see much larger revenues, as its easier to place bets as you don't have to build teams.
DraftKings is the largest operator in the state, with FanDuel coming in second. Yahoo also generated a profit for the first time in months, and new basketball only DFS group SportHub launched as well, bringing in $230 million in entry fees.
Sportsbetting went live at the Hollywood Casino on the 17th, but no numbers have been generated to give an insight as to how profitable the endeavor will be. The state will haul in $36 million in revenue, and with a large population it stands to reason that there will be a substantial amount of money generated.
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Comments
It's probably likely some of the DFS punters being dragged to the sporsbetting sector after it has been already regulated in the state I believe, so that could probably decrease a bit the DFS numbers in the next months but probably not before NFL season ending cause we know it's the main league for the DFS maniacs.