Pennsylvania Finally Enacts Daily Fantasy Sports Regulations - News : News
  • 3 minutes read
Published on
Update on

According to an official statement made by the Pennsylvania Gaming Control Board (PGCB), daily fantasy sports contest are finally legal in the state. Having been long considered to be a legal gray area in a number of states, the launch of a regulated daily fantasy sports industry in the Keystone state is huge step forward for its statewide gambling expansion plans that officially kicked off after it legalized online gaming in October last year. Pennsylvania is the 19th state to pass laws that are meant to favor the growth of the rapidly growing and evolving fantasy sports industry.

“This roll-out also marks the beginning for Pennsylvania to create new revenue through the taxation of entry fees from players registered in Pennsylvania to participate in fantasy sports contests,” Kevin O’Toole, the executive director of the Pennsylvania Gaming Control Board said. “Pennsylvania residents that enter fantasy sports contests can know that they are participating in a fair playing environment and assured that each licensed operator meets standards set out in the law and regulated by the Gaming Control Board.”

So far, six fantasy sports sites namely FanDuel Fantasy Draft, DraftKings, Fantasy Football Players Championship, FastPick, Boom Fantasy, and DRAFT are the only ones that are registered to legally offer their services under the state’s new gambling regulations. Fortunately for the customers, the state has chosen to go with a seamless transition approach and thus there will be little to no change in the way the sites operate.

“Pennsylvanians who already participate in fantasy sports contests with any of these firms will see no difference in gameplay nor need to re-register. The Gaming Control Board urges, however, that players review the eligibility guidelines on the websites of these fantasy sports contest operators prior to attempting to participate in play,” O’Toole confirmed.

However, like always, there has to be a catch – not that this is always a bad thing. The point of legalizing daily fantasy sports was not just to formalize the games but also to give the state a candid avenue to tap revenue from the industry. The operators will, therefore, be subject to a 15 percent tax on adjusted revenue – the state will channel the tax revenue towards its general fund. Also, players that will still be using any of the sites that are not on the list of registered and regulated ones will be doing so illegally. While the number of registered sites is certainly a small one, the PGCB confirmed that there was a possibility of more operators being brought on board in the near future.

Editor's Picks

SugarHouse Casino to Rebrand in the Fall

Philadelphia’s Sugar House Casino is soon set to rebrand as part of a series of upgrades that Rush Street Gaming, the property’s owner, has planned. This fall, the gaming and entertainment complex will officially change its name to Rivers Casino Philadelphia. As it turns out, these changes have been part of the company’s plans for […]

PGCB Approves Penn National’s Hollywood Casino in Morgantown

On Wednesday, June 12, Penn National Gaming Inc. undertook one of the very last steps in winning the approval of the Pennsylvania Gaming Control Board for its plans to construct and operate a satellite casino in Berks County. During the hearing, the company showcased detailed plans for the proposed Hollywood Casinos Morgantown. The company’s plans […]

Pennsylvania Slot Machine Revenue Goes Up 2.7 Percent in May

Last month, the Keystone States 12 licensed and regulated casino operators managed to generate a whopping $209.6 million in combined gross revenue from slot machine gaming – this is a 2.7 percent year-on-year increase according to the figures that were released by the Pennsylvania Gaming Control Board on Tuesday, June 4. The gaming control board’s […]

Similar Stories in Gambling

Online Sports Betting Finally Arrives in Pennsylvania

It has been a long time coming but Pennsylvanian sports betting fans are now going to be able to place bets online. This news came on Tuesday, May 28 when the Pennsylvania Gaming Control Board gave Philadelphia’s SugarHouse Casino the green light to launch its online sports betting offering making is the very first casino […]

Pa. Casinos Post Record Gaming Revenues in March

The Keystone State’s 12 licensed casino operators have recently set a brand-new all-time high record for gambling winnings in a single month. According to the revenue figures that were released by the Pennsylvania Gaming Control Board last Monday, the casinos managed to rake in whopping $309.1 million from slot machines and table games – the […]

New Jersey Casino Revenue Balloons to Record High in March

According to recently released revenue reports for the state of New Jersey, casino gaming revenue increased by more than 25 percent in March – this makes it the 10th straight month of revenue growth for the state’s gambling industry. This double-digit monthly increases in the state’s gaming revenue seemingly began in June last year when […]

The NCAA and the Inevitable Reality of Sports Betting

AS it stands, it seems that all the bets are off in as far as the NCAA’s resistance against sports betting in the United States is concerned. Contrary to what was the case at the 2018 Final Four where the only state where players could legally place sports bets was Nevada, there are tons of […]