FanDuel continues New York dominance as Caesars’ market share falls

Following a strong start by Caesars Entertainment in the Empire State, FanDuel and DraftKings have both surpassed it in terms of market share.

As New York enters its third month of regulated online sports betting operation, the race to be the state’s biggest sportsbook has seemingly settled into a pattern. 

Flutter-owned sports betting giant FanDuel has sustained its lead in terms of market share, with a 42.6% and 47.6% handle and revenue share respectively. 

However, Caesars’ impressive start in the state continues to pay dividends, as the gaming stalwart remains in the lead for year-to-date revenue market share, with 33.42%. 

Overall, FanDuel leads in terms of both revenue and handle, with its main sports betting rival, DraftKings, following behind in second with 25% percent in both categories. 

The two frontrunners are chased by Caesars in third, then BetMGM, BetRivers, PointsBet, WynnBet and Resorts World Bet. 

The latter brands in this list have a market share ranging from 2% to 0.3%. With that in mind, questions must be being asked among operators as to whether investing in this hugely competitive market is worth it in the long run. 

New York opened to staggering numbers during its first month of legal sports wagering and, while it experienced a drop off, has continued to impress in February. 

Specifically, New York’s sportsbooks took in around $1.53bn in wagers during February, a 12% decrease from the previous month’s $1.7bn handle. This decrease has been attributed to a diminished footballing calendar during the month, despite the Super Bowl being played on February 13.

This handle averages out to approximately $54.6m in bets per day. 

In terms of revenue, online sportsbooks won $82.4m during the second month of the year. This number falls markedly short of the national record, $124.1m, that the Empire State’s sportsbooks earned in January. 

Henry Moore

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