New York’s mobile sports betting market witnessed an unprecedented surge in November, achieving a record-breaking handle of $2.11 billion. The robust performance reflects a remarkable 36% year-on-year increase, marking a significant milestone for the state’s legal sports betting landscape. While revenue dipped slightly from October’s peak, the overall figures showcase the continued growth and popularity of mobile sports wagering in New York.
Record-Breaking Handle:
The total handle for mobile sports betting in New York soared to an impressive $2.11 billion in November. This remarkable achievement signifies a 36% surge compared to the same period last year, underlining the growing enthusiasm among bettors.
Month-on-Month Growth:
Despite achieving record-breaking figures in October, New York experienced a 5% month-on-month growth in the mobile sports betting handle. This consistent upward trajectory indicates sustained interest and engagement within the state’s sports wagering market.
Revenue Overview:
While November’s revenue of $150 million marked a 9.3% decline from October’s record of $166.3 million, it still represents a 1.8% increase from November 2022 ($148.2 million). The figures underscore the robust financial contributions of the mobile sports betting sector.
Market Dominance by FanDuel and DraftKings:
FanDuel and DraftKings continued to dominate the market, collectively accounting for nearly 80% of the total bets placed. FanDuel led with a handle of $923.4 million and revenue of $69.2 million, while DraftKings recorded a handle of $723.1 million and revenue of $54.3 million.
Top Operators’ Performance:
Caesars: Handled $205 million in bets, generating $11.6 million in revenue.
BetMGM: Processed $120.6 million in online wagers, resulting in $7.9 million in revenue.
Rush Street Interactive: Achieved a handle of $76.6 million and revenue of $5 million, completing the top five operators in the state.
New York’s mobile sports betting market continues to break barriers, setting new records and establishing itself as a powerhouse in the industry. The sustained growth in both handle and revenue reflects the widespread acceptance of sports wagering among New York residents. With key operators like FanDuel and DraftKings driving the market, the future appears promising for the state’s dynamic and evolving sports betting landscape.