The NFL’s return brought a significant rebound to New York’s online sports betting handle in September, surpassing the $1 billion mark after two consecutive months below $900 million. Players spent a staggering $1.26 billion, marking a substantial 44.1 percent increase from August and the highest monthly total since May. The surge in betting activity also translated to record-breaking gross gaming revenue (GGR) of $143.3 million, representing a remarkable 15.5 percent increase from the previous high of $124.1 million set in January during the first month of legal wagering. FanDuel continues to lead the pack as the most popular sportsbook in New York, followed closely by DraftKings, while both combined hold a dominant 73 percent of the market share.
Strong Rebound in Betting Activity
With the return of the NFL, New York’s online sports betting experienced a remarkable bounce back in September. The betting handle surpassed the $1 billion milestone, showcasing a remarkable 44.1 percent increase from the previous month’s figure of $872.2 million. This resurgence in betting activity indicates the enthusiasm and excitement among sports enthusiasts as they eagerly engage with their favorite teams and players.
Record-Breaking Gross Gaming Revenue
The surge in betting action also led to record-breaking gross gaming revenue (GGR) in September. Reaching an impressive $143.3 million, the GGR surpassed the previous high of $124.1 million, which was achieved during the initial month of legal wagering in January. This outstanding performance demonstrates the profitability and growth potential of New York’s online sports betting market.
FanDuel and DraftKings Dominate the Market
FanDuel and DraftKings continue to dominate the New York sports betting landscape, holding approximately 73 percent of the market share. FanDuel’s handle amounted to an impressive $499.8 million, resulting in net revenue of $32.1 million after paying the state’s 51 percent tax on betting revenue. Meanwhile, DraftKings reported a handle of $422.2 million and net revenue of $21.9 million. Their combined strong presence reaffirms their popularity and appeal among bettors in the state.
Other Key Players in the Market
While FanDuel and DraftKings lead the way, other sportsbooks also made their mark in New York’s online sports betting arena. Caesars Sportsbook posted a handle of $163.2 million and $18.6 million in GGR, showcasing their significant market share. BetMGM generated $8.6 million in GGR from $95.7 million in wagers, while Rush Street Interactive recorded $3.7 million in GGR from $34.9 million. PointsBet contributed $1.7 million in GGR from $23.9 million in wagers. Wynn Interactive, Resorts World, and BallyBet also made noteworthy contributions to the market.
The return of the NFL revitalized New York’s online sports betting market in September, propelling the betting handle to exceed $1 billion, the highest monthly total since May. The surge in betting activity translated to record-breaking gross gaming revenue, setting a new benchmark in the state’s sports betting landscape. FanDuel and DraftKings continued to dominate the market, while other key players also made significant contributions. As the popularity of online sports betting continues to grow, New York’s betting market shows immense potential for further expansion and success in the future.