New York’s mobile sports betting market has recorded $231.6 million in gross gaming revenue, the highest monthly figure since the state legalized online sports wagering in January 2022. November’s total handle of $2.27 billion is also the second-highest to date, falling just short of October’s all-time record of $2.32 billion.
The record revenue marked a 31.4% increase from October’s $176.3 million and a 9.5% leap over the previous record of $211.5 million set in January. Year-over-year, November revenue rose 53.5% compared to the $150.9 million reported in the same month in 2023.
FanDuel maintained its dominance in the New York market, posting $102.6 million in revenue on a $921.2 million handle, resulting in an 11.14% hold. The operator’s revenue accounted for more than 43% of the state’s total for the month. DraftKings followed with $77.1 million in revenue from a $745.4 million handle and a hold of 10.34%.
BetMGM climbed to third place in revenue rankings with $14.4 million from a $167.7 million handle and an 8.59% hold. Caesars closely trailed with $14.2 million in revenue on a $158.1 million handle, achieving a hold of 8.99%.
Fanatics Sportsbook, which had outperformed BetMGM and Caesars in handle during October, dropped to fifth place with $13.8 million in revenue. However, its $170.2 million handle remained higher than both competitors.
The November results also highlighted growth among smaller operators. ESPN Bet achieved its highest revenue since launching in September, generating $3.5 million from a $39.0 million handle. Meanwhile, Bally Bet reported $1.2 million in revenue on a $10.6 million handle, boasting an 11.32% hold, the highest among all operators in the state.
Rush Street Interactive, operating as BetRivers, reported $4.3 million in revenue from a $47.6 million handle, while Resorts World Bet rounded out the rankings with $567,119 in revenue on a $5.4 million handle.
The sound November performance also delivered a record-breaking $118.1 million in tax revenue for New York, which imposes a 51% tax rate on sports betting operators. Year-to-date, tax contributions have surpassed $965 million, and the state is poised to exceed $1 billion in annual tax revenue for the first time by the end of December.
With the NFL, NBA, and NHL seasons in full swing and college football playoffs on the horizon, strong betting activity is expected to continue through the year-end.
Original article: https://www.yogonet.com/international/news/2024/12/09/88019-new-york-sports-betting-revenue-hits-record-2316-million-revenue-in-november-
