April 4, 2022 Sports Betting, Online, Results

New York sports betting: FanDuel leads, Caesars hangs on, DraftKings goes down

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Performance of Caesars indicates uniqueness of New York market.

Last week was a busy one in New York for both online sports bettors and betting companies. Numbers from the New York State Gaming Commission reveal a market that remains robust. 

The devil is in the details though: FanDuel has kept its top place, Caesars remains a persistent second (at least in terms of revenue), and DraftKings – a company that remains so dominant in so many markets – actually saw its share go down.  

Last week, FanDuel, Caesars and DraftKings had, respectively, the following market share in terms of revenue: 68.43%, 16.35%, and 13.35%. The prior week’s numbers illustrate the fluctuation in place undergone by these three market leaders. Again, respectively: 56.28%, 16.70%, and 25.70%.  

Year-to-date puts FanDuel revenue share in New York at 34.97%, Caesars at 31.28%, and DraftKings at 25.15%.  

Fighting over the paltry remainder share are, in order, PointBet, WynnBet, Resorts World, BetRivers and BetMGM.  

Judging from its maintaining second place in Empire State revenue, Caesars’ inordinate marketing spend as online sports betting was going live in January was a gambit that appears to be paying off. Its second place in New York is unique compared with most other markets in the country, where DraftKings and FanDuel vie for top spot. 

The story is slightly different for handle. Last week FanDuel and DraftKings remained fairly steady in the top two spots respectively (about 40% and 25%, with little variation over the week before).  

Caesars has kept in third place, with its share actually going up over the week before, from 15.62% to 20.67%.  

WynnBet also finished a respective fourth in terms of handle and last week maintained a 11.09% market share.  

The rest in handle were, in order, BetRivers, PointsBet, BetMGM and Resorts World.  

So far, the performance of online sports betting in the State of New York has been magnificent: year-to-date revenue is at $314.5m while handle is at $4.7bn. 

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