February: New York mobile sports betting revenue drops to lowest figure since August

The New York Gaming Commission has released its mobile sports betting figures for February 2024, showing a sharp drop in its gross gaming revenue (GGR). 

Mobile sports betting handle saw a third consecutive drop off, since the record-breaking $2.1bn that was seen in November 2023. In February, the amount was just shy of $1.8bn, a 9.3% decrease from the month prior. 

However, this does now mean mobile sports betting handle has reached $17.8bn for the 2023/24 fiscal year, surpassing the $16.4bn set in the 2022/23 fiscal year, still with another month to go. 

As a result, for the second month of 2024, mobile sports wagering GGR in the state was set at $131.4m, a 37.9% decrease when compared with January’s figure, although still a rise when compared to February 2023 when the number was $108.3m. 

February’s GGR was at its lowest rate since the $98.5m seen back in August 2023. 

Looking at a more individual basis, FanDuel saw a significant fall in its numbers for February, with mobile sports betting handle going from $867.1m to $720.1m, while GGR saw a reduction of 41.9% to $63.4m, from January. 

DraftKings also saw its mobile sports betting handle and GGR go down to $607.9m and $53.4m respectively, compared with January’s numbers. 

For BetMGM, it actually saw its mobile sports betting handle increase 9.1% compared to the month prior, but its mobile sports betting GGR dropped 94.2% to $580,224. 

In other news within the state, Fanatics Sportsbook recently made the Empire State its 15th state where it’s launched, following a month of launches in other states in February, including Indiana, Michigan and Iowa. 

Ciaran McLoughlin

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