Pennsylvania fantasy sports sees $12.4M in entry fees in May

Fantasy Sports

The Pennsylvania Gaming Control Board has released initial revenue figures for its newly-minted regulated fantasy sports industry.

As expected, the vertical is contributing a nearly negligible amount of revenue to state coffers.

The report covers the entire month of May, in which the state’s 10 recorded operators generated $1,331,706 collectively, with $199,756 paid to the state.

The Pennsylvania fantasy sports market is proving a tough one for companies that aren’t branded FanDuel or DraftKings.

Collectively, the power duo comprised 98% of industry revenue. FanDuel led the pack at $673,014 for a 50.5% market share, with DraftKings only slightly behind at $632,009 (47.5% market share).

As for the rest, well…the third best performing site was DRAFT, which locked up $16,992 in revenue. In a distant fourth was the once promising Yahoo Fantasy Sports site, which generated $4,430.

Beyond that, the numbers go from bad to embarrassing, with two operators (Full Time Fantasy Sports and Fantasy Football Players Championship) taking in exactly zero dollars in adjusted revenue. Alternative daily fantasy sports site FastPick only did slightly better at $319 in revenue, with the remainder bringing in less than a fry cook does in a month.

This is not an unexpected result, as it’s widely known that FanDuel and DraftKings are the only truly recognized brands in daily fantasy sports. However, the newly issued report exhibits just how large the gap has grown between the haves and the have nots.

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