New York sports betting becomes a $2bn empire in October

The Empire State has broken a monthly handle record, as well as reported monthly gross gaming revenue of $166.3m.

The New York State Gaming Commission (NYSGC) has released its monthly online sports wagering financial results for October 2023, and in doing so, has become the first state to surpass the $2bn handle mark, reaching total handle of $2,006,823,408. Monthly only sports betting gross gaming revenue (GGR) also reached a yearly high of $166.3m.

So far, in fiscal year 2023/2024, which begins in April for the Empire State, total handle of $9.9bn has been generated in 7 months, with only July’s monthly handle coming in under $1bn. GGR from April to October totalled $930.1m.

Individually, the top five online sports betting operators ranked as follows in New York this October:

• FanDuel generated $891.9m in handle and $83.1m in GGR
• DraftKings generated $652.3m in handle and $59.3m in GGR
• Caesars generated $193.2m in handle and $10.9m in GGR
• BetMGM generated $107.6m in handle and $7.2m in GGR
• Rush Street Interactive generated $114.2m in handle and $3.3m in GGR

In May, FanDuel was also solidly atop the New York sports wagering market share with 51.13%, and the overall rankings have not changed much in the Empire State’s top five.

So far, FanDuel has generated an overall fiscal year 2023/2024 handle of just under $4bn in New York, with GGR of $437.3m. DraftKings is close behind with $3.6bn in yearly handle to date and GGR of $327m.

According to the NYSGC report, these online sports betting figures have also resulted in a fiscal-year 2023/2024 generation of $474.4m in net revenue for education in the state. 

FanDuel sits at the top of the Empire State with 51.13% of market share.

FanDuel, DraftKings, Caesars and BetMGM (unsurprisingly) rank as its top four sportsbooks.

Stephanie Feeley

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