Pennsylvania Fantasy Sports Betting Nears $1 million

With the NFL season under way, fantasy sports betting under Pennsylvania’s new gaming expansion law has generated nearly $1 million in tax revenue.

As the first half of the NFL football season comes to an end, fantasy sports betting on Pennsylvania’s nine licensed fantasy sports sites is still growing. According to a report in Lehigh Valley Business, fantasy sports betting has generated nearly $1 million in tax revenue since its launch in May.

The revenue numbers accelerated with the start of the NFL season in September, a month when sites that include national names like DraftKings, FanDuel and Yahoo Fantasy Sports generated $320,000 in tax revenue on revenue totaling $2.13 million. By comparison, in July, the sites generated $133,000 in taxes on revenue of $878,000.

The state takes 15 percent of all fantasy sports wagers under the gaming law. Since May, the state has taken in around $947,000 in new taxes on fantasy sports.

Recent Articles

History Playbook

On This Day In Sports History

On July 29, 1996, legendary manager Tommy Lasorda announced his retirement from the Los Angeles Dodgers following a heart attack. 💔⚾ His departure marked the end of an incredible era: Lasorda won 4 National League pennants and 2 World Series titles after taking over Between Alston (hired in Brooklyn in 1953) and Lasorda, the Dodgers had only two managers over a span of nearly 43 years! Bill Russell stepped in to replace him. Talk about franchise stability.

On This Day In Sports History

On July 29, 1994, horse racing history witnessed one of the most unbelievable coincidences ever caught on a photo-finish camera. Two completely evenly matched thoroughbreds—Honest Onyx and Exclusive Gold—went head-to-head for a grueling seven furlongs at Assiniboia Downs. When they hit the wire, officials reviewed the finish-line camera and literally could not separate them. The result? A rare, official dead-heat for the Win! But the story gets crazier. Just two weeks later, the exact same two horses raced the exact same distance at the same track—and dead-heated again, this time tying for second place. Talk about defying the odds! official dead heat