December revenue surpassed the existing New York record of $166.3m, set in October 2023, by 13.2%. The figure was also 24.8% higher than $150.9m in November and 32.8% up from $141.8m in December 2022.
As for handle, this amounted to $2.04bn in December, just 3.2% shy of November’s record of $2.11bn. The total was also 25.7% higher than the $1.62bn bet in December of the previous year.
December also marked the third consecutive month that New York players spent more than $2.00bn on online sports wagering. New York in October became the first state to report an online monthly betting handle higher than $2.00bn.
FanDuel stretches lead over DraftKings in New York
Flutter Entertainment-owned FanDuel remains the frontrunner in New York, extending its lead over DraftKings in December. FanDuel posted $93.6m in revenue off $834.5m in bets.
DraftKings placed second with $65.2m in revenue and a $773.4m handle. Caesars followed with revenue of $15.9m off $202.0m in total bets during December.
BetMGM also had a good month, reporting $8.1m in revenue and a $126.5m online handle. Rush Interactive was next with $3.1m in revenue from $50.7m of online wagers.
PointsBet reported revenue of $2.6m from $28.6m in bets, and Resorts World Interactive $401,566 off $401,566.
Record revenue despite BallyBet and Wynn Interactive losses
New York posting a new monthly revenue record is all the more impressive when considering two out of the nine licensed operators in the state reported a loss in December.
Wynn Interactive noted the largest loss of $323,464 from $9.2m in bets. December was the second consecutive month the operator reported an online sports betting loss.
BallyBet posted a loss of $252,433 from a $6.6m handle. BallyBet only resumed its online sports betting operations in New York in November after pausing activities back in July.
FanDuel lobbied against advertising rules near colleges
In other news out of New York in December, it was revealed that FanDuel lobbied against rules that prohibit advertising sports betting near colleges and universities in the state. This was according to unredacted documents released by the New York State registrar.
Updated rules were introduced in October after the New York State registrar considered opinion from various licensees. The ban on betting adverts near education establishments is now in place.
However, state registrar documents show FanDuel opposed such a move. The document said FanDuel objected to a ban on adverts in the “area of a college or university campus”.
The New York State Gaming Commission disagreed. The regulator said adverts near colleges and universities could be regarded as an “objectionable marketing effort”. It added that prohibiting such ads would help prevent “predatory” marketing to underage persons.
Original article: https://igamingbusiness.com/sports-betting/online-sports-betting/new-york-online-betting-revenue-record-december/
