More operators are getting in on the daily fantasy sports action in Pennsylvania.
Just a few weeks after daily fantasy sports launched in Pennsylvania, even more operators are getting in on the action. In the beginning, the state had seen six companies show interest and now, four more operators have sent in applications to offer services in the region.
10 DFS Companies
The legal and regulated daily fantasy sports industry of Pennsylvania was already six companies strong and has the potential to grow even stronger. The Pennsylvania Gaming Control Board recently announced that four more applications had been received from companies looking to begin offer DFS services. If all four are approved, it would mean ten total companies will be offering DFS gaming in the state.
Daily fantasy sports were legalized back in 2017 when a gambling package was passed into law. As part of significant changes to the state, DFS would be legalized and taxed at 15% on adjusted revenues of operators. The Gaming Control Board provides oversight of the industry.
Players have been enjoying daily fantasy sports for years in the state, but the option was available in what was considered a gray market. With the activity now legal, players and operators must abide by strict regulations. Players must be 18 years of age to take part.
Once DFS was a go back in April, six companies had been approved by the Gaming Control Board. These companies are: Boom Fantasy, DRAFT, DraftKings, FanDuel, Fantasy Football Players Championship and Fastpick.
Now, four more companies have filled out an application to offer DFS in the state. These companies include: Fantasy Draft, Sportshub National Fantasy Championships, Scout Fantasy Sports and Yahoo Fantasy Sports.
According to the board, it is legal for players to take part in gaming from the operators mentioned above. Players who are located outside the state are not legally able to take part in DFS contents offered in the state.
New Revenues for the State
Even though daily fantasy sports gaming was not regulated and ready to go until the end of April, the option is already providing revenues for the state. According to Kevin O’Toole, the Executive Director of the Pennsylvania Gaming Control Board, the taxes already being paid on entry fees to compete in DFS contests are creating new revenues for the state.
This is of course a bonus, but O’Toole also pointed out that the new industry now has government oversight which means that players can participate in the contests in a fair environment. The licensed operators are to follow standards created by the law and regulations instituted by the board, to create such an environment.
While DFS is in full swing, there are still new gaming options that will be launched in the state sometime this year. Online casino and poker games will be live hopefully this year, with players having access to slots, table games and poker. The lottery is also supposed to begin selling tickets online, providing gamers with an additional outlet for gambling on lottery games.
For the online gaming options, the licensing process as well as creation of regulations is ongoing. It is believed that online gaming will finally be ready by the last quarter of 2018 or early next year. Additional gaming is also expected for the state with the creation of satellite casinos. Several operators have already obtained licensing for the mini-casino venues and have plans to launch as soon as possible, though construction will take some time to complete. Many license holders of satellite venues are currently narrowing down the location of their new gaming facilities.