New York’s mobile sports betting market continues to thrive, with April 2024 marking another impressive month of growth.
In April 2024, New York’s mobile sports betting handle approached the $2 billion mark, registering $1.96 billion. While not surpassing the record set between October and December 2023, this figure signifies a remarkable 27.2% year-on-year increase. Compared to March 2024, the handle witnessed a notable 6.2% uptick, reflecting sustained momentum in the market.
Gross Gaming Revenue (GGR) Surge:
The surge in handle translated into robust gross gaming revenue (GGR), reaching $183.8 million in April 2024. This represents the third-highest GGR recorded in New York’s mobile sports betting history. The year-on-year increase stands at an impressive 32.4%, while month-on-month, the growth rate reached 21.2%.
Market Leader Performance:
FanDuel maintained its dominant position among New York’s mobile sports betting operators, reporting a handle of $780.5 million and GGR exceeding $91 million. This showcases a 24.6% year-on-year increase in handle and marks FanDuel’s third-highest monthly GGR achievement. Following closely behind, DraftKings recorded a handle just shy of $737 million, with GGR reaching $63.2 million. Caesars secured the third position with a handle of $158.8 million and GGR of $10.4 million.
Corporate Shift:
In parallel news, Flutter shareholders voted overwhelmingly for the company’s primary listing to move from the London Stock Exchange (LSE) to the New York Stock Exchange (NYSE). This strategic move underscores Flutter’s commitment to aligning with the dynamic landscape of the U.S. sports betting market.
The latest financial figures from New York’s mobile sports betting market paint a picture of sustained growth and resilience. With record handles, soaring revenues, and industry giants vying for dominance, the future of sports betting in the Empire State appears promising. As Flutter positions itself for greater opportunities by shifting its primary listing, the landscape is ripe for further innovation and expansion.