The New York sports betting market has set another record month of handle after bettors wagered more than $2.1bn in November.
Data from the New York State Gaming Commission revealed the record amount, eclipsing the just over $2bn bettors placed in October.
The record amount equates to a 35.7% increase year-over-year and a 5.1% monthly uptick from October’s tally. In October, eyebrows were raised when New York became the first state to pass $2bn in handle but there is now the mouth-watering reality that the state has done it in consecutive months.
However, revenue did drop from October as sportsbooks made $150.9m. With a hold rate of 7.1%, much lower than the 8.2% recorded in October, this marks a monthly decline of 9.2% in revenue.
Sportsbooks have enjoyed annual growth in revenue, though, as November 2023’s tally of $150.9m is 1.8% higher than November 2022.
Per operator, FanDuel enjoyed the lion’s share of the market, handling $925.4m last month, marking its most successful month ever in New York in the process. DraftKings, after taking a lead earlier in the year, has fallen behind handling $732.1m, while Caesars makes up the top three handling $204.9m.
Bally’s marked its return to New York last month, with its new Kambi and White Hat platform generating $4.3m in handle, by far its most productive month in the Empire state.
Here’s a look at other operators’ handle:
BetMGM: $120.6m
Rush Street Interactive: $76.6m
PointsBet: $27.2m
WynnBet: $11.3m
ResortsWorld Bet: $6.8m
By revenue, FanDuel is once again the leader, generating $69.2m from November trading. Long time rivals DraftKings was in second place, making $54.3m in revenue, while Caesars made the top three making $11.6m
Here’s a look at other operator’s revenue:
BetMGM: $7.9m
Rush Street Interactive: $4.9m
PointsBet: $2.4m
ResortsWorld Bet: $483k
BallyBet: $234k
WynnBet: ($312k)
New York sports betting operators made a total of $79.8m in net revenue post-tax last month, while $83m will be paid towards the state in taxes.
