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

New York has released its sports wagering data for April, where FanDuel remains the Empire State’s top sportsbook. The New York State Gaming Commission posted mobile sports betting figures for: FanDuel, DraftKings, Caesars, BetMGM, Bally Bet, Wynn Interactive, PointsBet, Resorts World Bet and Rush Street Interactive.

Online sportsbook revenue for FanDuel in New York represented 51.13% of the market, while the brand also claimed 40.55% of the state’s handle. The state garnered total mobile sports wagering handle of $1.5bn and gross gaming revenue of $138.8m.

These figures are an increase year-on-year from monthly handle of $1.39bn in April 2022, and gross gaming revenue of $104.1m. However, March was a much bigger betting month for New York (possibly due to a certain ‘madness’ for basketball), with total handle of $1.79bn in March 2023, and gross gaming revenue of $162.8m.

FanDuel’s mobile sports wagering handle was $626.3m (up 4.5% year-over-year), while its gross gaming revenue was $71m (up 11.62% year-over-year).

DraftKings is behind FanDuel with 32.36% percent revenue share ($44.9m) and 33.44% percent of the state’s handle ($516.4m). However, New York’s second-place sportsbook’s figures have risen considerably with 57.9% growth in wagering handle and 128.7% growth in its gross gaming revenue.

Although the fact FanDuel has taken a larger share of revenue than it has handle potentially suggests it has been shrewder than DraftKings, which historically uses big bonuses to attract players (perhaps explaining why its share of revenue is less than its share of handle).

Caesars Sportsbook came in third with $185.3m in handle and $12.8m in revenue, down from its April 2022 handle of $215.7m. BetMGM ranked fourth with $126.7m in handle and $7.1m in revenue, also experiencing a handle decrease from $142.2m.

Flutter Entertainment (FanDuel’s parent company), DraftKings, Caesars Entertainment and MGM Resorts have all recently also posted their overall Q1 financial results.

Stephanie Feeley

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