What is New York Worth to DraftKings, FanDuel?
FanDuel and DraftKings each saw a drop in entry fees for their typically lucrative NFL contests last weekend, even after a New York appeals court granted the daily fantasy sports operators temporary permission to resume business in the state, according to Fox Business. Sagging revenues are being blamed on both companies expensive legal battle with the state of New York following Attorney General Eric Schneiderman’s declaration that both engage in illegal online gambling.
FanDuel generated $18,795,067 in entry fees and paid out $16,768,165 in prizes for its Week 14 contests, according to SuperLobby, a leading daily fantasy sports analytics service. this was a 11.7% drop from Week 13 and 53% from Week 6.
DraftKings experienced a similar drop in revenue for Week 14, taking in $17,130,488 in entry fees and paying out $15,235,464 in prizes. This was down 7.5% from Week 13 and 32% from Week 5, when it generated $25 million in entry fees.
- Aaron Goldstein, Gambling911.com