New York mobile sports betting market celebrates first anniversary

New York vaulted past the $15bn mark in betting handle in the early days of December.

01/10/23

The state launched its legal online betting market in January 2022.

US.- New York’s online sports betting handle was $1.62bn in December, up 3.9 per cent from $1.56bn in November and the third-highest monthly amount since the state launched its legal online betting market in January 2022.

New York vaulted past the $15bn mark in terms of betting handle in the early days of December. By the end of the year, the number of total dollars wagered in the state had surpassed $15.8bn. Gross gaming revenue topped $1.3bn, which showered nearly $680m in tax revenue into state coffers.

By the end of 2022, FanDuel has emerged as the market leader with around $6.4bn in handle and almost $650m in GGR. DraftKings comes in second with $4.5bn in handle and $354m in GGR. Caesars Sportsbook rounds out the top three with almost $2.8bn in handle and $214m GGR, according to data from the New York State Gaming Commission.

Figures from December show a gross gaming revenue decrease for the first time in five months, which came to $141.8m, down 4.34 per cent from the record $148.2m reported in November.

Flutter Entertainment-owned FanDuel remained New York’s market leader in December, posting $67.9m in revenue from $663.2m in player wagers. DraftKings came second with $44.7m in revenue and a $663.2m betting handle. Caesars Sportsbook completed the podium with $15.6m from $214.1m in bets.

BetMGM generated $9.4m in GGR from $116m in bets, Rush Street Interactive $2.6m from $43m and PointsBet $711,904 from $48m in handle. Resorts World reported $267,110 in revenue from $5.5m in wagers, Wynn Interactive reported $409,419 in revenue from $9.4m and BallyBet reported $47,236 in GGR from $725,931 in bets.