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Pa.'s fantasy sports betting continues to lure light revenue

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For the third month that fantasy sports betting has been legal in Pennsylvania, tax revenue continues to remain on the slight side.

Tax revenue collected from the seven of nine fantasy sports contest providers licensed in the state was $131,727 in July.

In May, the first month in which fantasy sports betting was legal, Pennsylvania’s gaming commission took in $199,755 in tax revenue.

In June the betting brought in $152,679 in tax revenue.

The state collects 15 percent in taxes from betting revenue.

Speaking to Lehigh Valley Business earlier, Dough Harbach gaming commission spokesman, said that the state didn’t really have any expectations as to what kind of revenue would come in, but noted that before May, no tax revenue was coming in from fantasy sports betting.

Seven providers are running fantasy sport betting contests in Pennsylvania, DraftKings, FanDuel, DRAFT, Fantasy Draft, Yahoo Fantasy Sports, Sportshub Technologies and Boom Fantasy.

Two others, Full Time Fantasy Sports and Fantasy Football Players Championship, have not begun offering contests, but are licensed.

Likely, they are waiting for the start of the pro football regular season to begin operations.

Overall revenue from fantasy sports betting could rise significantly once pro football season begins because of the sport’s popularity with fantasy sports players.

The seven providers took in a total of $878,184 in July, less than the $1,331,706 they took in during May and $1,017,862 it took in during June.

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Stacy Wescoe

Stacy Wescoe

Writer and online editor Stacy Wescoe has her finger on the pulse of the business community in the Greater Lehigh Valley and keeps you up-to-date with technology and trends, plus what coworkers and competitors are talking about around the water cooler — and on social media. She can be reached at stacyw@lvb.com or 610-807-9619, ext. 4104. Follow her on Twitter at @morestacy and on Facebook. Circle Stacy Wescoe on .

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