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.

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