New York Betting Operators Break Revenue Record with $188.3 Million

Mobile Sports Betting in New York Hits Record $2 Billion in Wagers

In recent months, mobile sports betting operators in New York have experienced unprecedented success, with the betting handle reaching a record-breaking $2 billion in October. This achievement solidifies New York as the first state to surpass such a significant sum in wagers. The trend continued into November, marking the second consecutive month with a betting handle above $2 billion.

The New York State Gaming Commission, the state’s gambling regulator, released the latest results, revealing that betting operators recorded $2.04 billion in betting handle for December 2023. While this figure is slightly below the all-time high set in November at $2.11 billion, there was a substantial increase in the mobile sports wagering gross gaming revenue (GGR). In December, operators reported $188.3 million in GGR, marking a significant $37.4 million increase compared to November’s $150.9 million.

Comparing the results to the previous year, there was a notable increase in December 2023. Mobile betting operators saw a 26% rise in betting handle, from $1.62 billion in December 2022 to $2.04 billion in December 2023. The GGR also experienced a year-over-year increase of nearly 33%.

FanDuel and DraftKings Maintain Dominance

FanDuel and DraftKings continued to maintain their leadership in the New York market, with both operators posting the highest betting handle and mobile betting GGR in December. FanDuel’s betting handle reached $834.5 million, resulting in $93.6 million in sports wagering GGR, $45.8 million in net revenue for the platform provider, and $47.7 million in net revenue to education.

Following closely, DraftKings recorded the second-highest betting handle at $773.4 million, with $31.9 million in net revenue and $33.2 million in revenue towards the state’s education.

Caesars Sportsbook and BetMGM also enjoyed strong performances, with Caesars reporting a mobile betting handle of nearly $202 million and a GGR of $15.9 million. BetMGM saw $126.5 million in wagers and $8.1 million in betting GGR.

Overall, the success of mobile sports betting in New York continued to surge, setting new records and demonstrating significant growth in the market.