Fantasy Sports Betting
Fantasy sports betting is a different concept from traditional sports betting, as you don’t bet directly on the outcome of any sporting events. Instead you create a fantasy sports team and compete against opponents to try and win money. New FanDuel customers can receive a $1000 risk free bet after their first sportsbook deposit or up to a $500 bonus on fantasy with their first deposit. FanDuel offers daily fantasy contests for cash prizes & legal wagering on sports betting markets for all major sports. FanDuel offers a multitude of one-day, weekly and season-long game options for NFL, NBA, MLB, NHL, Golf, WNBA, and the EPL. New users can get a bonus up to $1000 with their first deposit. Try daily fantasy sports on FanDuel today! Find complete sports. Fantasy sports betting is considered legal in the vast majority of states since US courts have deemed it to be a game of skill. In a small handful of states the rules are less clear and the big DFS sites have.
The latest on PA fantasy sports
Since launching a regulated market in May of 2018, PA has seen increasing returns on tax revenue each month. In the first 18 months of operation, DFS has generated over $5 million in tax revenue for the state.
So far, the industry has generated $9.2 million for the 10 operating sites. The overwhelming amount of that money belongs to FanDuel and DraftKings. In fact, many of the smaller sites are operating at a loss.
Playing daily fantasy sports in Pennsylvania
Until now, daily fantasy sports (DFS) haven’t been exactly legal in the state of Pennsylvania, but that didn’t mean you couldn’t play.
State lawmakers spent the last few years considering a number of options in terms of legalizing and regulating DFS.
On Oct. 26, 2017, the PA House passed a bill to formally legalize daily fantasy sports in Pennsylvania, along with online poker and other forms of online gambling, including online table games and slots. The Senate passed the same bill, H 271, a day prior.
A few days later, PA officially became the 17th state to regulate daily fantasy sports (and the fourth to regulate online gambling) when Gov. Tom Wolf signed H 271 into law.
In May of 2018, regulated DFS in Pennsylvania officially launched. There are currently 10 licensed operators:
- Boom Fantasy
- DRAFT
- DraftKings
- FanDuel
- FantasyDraft
- Fantasy Football Players Championship
- FastPick
- Sports Hub
- Scout Fantasy Sports
- Yahoo Fantasy
The minimum age for DFS players is 18. Daily fantasy sports are taxed at 15 percent in Pennsylvania, considerably lower than the 36 percent tax rate established for legal sports betting in PA.
Daily fantasy sports regulation in Pennsylvania
H 271 is a comprehensive gaming expansion package that regulates or introduces many new forms of gaming to Pennsylvania in addition to daily fantasy sports. PA residents will be able to access legal, real-money online poker games, casino games, lottery tickets, online slots, and more. The state will also permit video gaming terminals (VGTs) in qualified truck stops as well as tablet gaming at certain airports.
Pennsylvania’s biggest daily fantasy sports sites
Fantasy Sports Betting Companies
When it comes to DFS, FanDuel and DraftKings enjoy better than 90 percent market share across the United States. Things are no different in Pennsylvania, where FanDuel and DraftKings are the two most popular DFS sites.
How popular is daily fantasy sports in Pennsylvania?
With almost 13 million residents, Pennsylvania is the sixth-most populous state in America. Professional sports are prevalent. As a result, the state represents a rather large market for DFS operators.
Fantasy Sports Betting Websites
Right now, it is estimated DFS sites are pulling in more than $7.5 million in revenue from Pennsylvania players. In fact, the state is responsible for close to 4 percent of all DFS contest entry fees in the United States.
Fantasy Sports Betting Sites
Estimates suggest Pennsylvania has more than 65,000 active DFS players. Plus, those players are responsible for almost $80 million in annual entry fees, putting Pennsylvania in the top ten states for DFS activity.