New York sports betting ends 2023 with revenue record

Statue of Liberty in front of New York City
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The New York sports betting market has set another new record for monthly revenue, as the Empire State rounded off 2023 in style. 

Per the New York State Gaming Commission, operators in the US’ largest sports betting market handled $2.04bn in December, which is the second-highest handle in the market’s history behind November’s $2.1bn. 

It marks an increase of 25.9% year-over-year as New York’s operators continue to entice new bettors to their platforms. 

Operators’ hold rate returned to a healthy position as sporting results rebounded from an unfavorable state nationally in November. In December, operators held onto 9.2% of bets compared to 7.1% in the month prior. 

This meant that, alongside the strong handle, New York’s operators set a new high for revenue to close out 2023, making $188.3m. 

The record amount marks an uptick of 32.8% YoY and eclipses the previous record, set in October, by 13.2%. 

Per operator, FanDuel continued to assert its dominance in New York, handling $834.5m last month. This is clear of second-placed DraftKings, which took $773.4m in bets, and third-placed Caesars, which handled $201.9m. 

Here is a look at other operators’ handle for December: 

BetMGM: $126.5m

Rush Street Interactive: $50.7m

PointsBet: $28.6m

ResortsWorld Bet: $10.4m

WynnBet: $9.2m

Bally Bet: $6.6m

Meanwhile, on the revenue side, the picture looks similar as FanDuel continues to hold a strong position. The operator generated $94.6m in December, a new record for the New York market. 

DraftKings made $65.2m, while Caesars yielded $15.9m to hold onto its podium place in the most lucrative market in the country. 

Here’s a look at the other operator’s revenue: 

BetMGM: $8.1m

RSI: $3.1m

PointsBet: $2.6m

ResortsWorld Bet: $402k 

Bally Bet: ($242k) 

WynnBet: ($323k)

Taking into consideration the controversial 51% tax rate imposed on operators, sportsbooks took home $92.3m from December trading, while $96m went to the state to fund education facilities.