New York sets US-first with $2bn online sports betting handle in October
Players in New York wagered a total of $2.01bn online and via mobile in October. This is the highest ever for a state in the US offering legal sports betting to consumers.
The October total was 30.5% ahead of $1.54bn reported in the same month of last year. This figure was also 14.2% up from $1.76bn in September this year.
Monthly revenue in New York also reached a new high of $166.3m. This was marginally up from the previous record of $165.5m set in September and 14.1% higher than $145.7m last year. Mobile betting has been available in New York since January 2022.
FanDuel remains the market leader in New York
Turning to individual operators, Flutter Entertainment-owned FanDuel continues to lead the New York market. In October, FanDuel posted $83.1m in revenue from $891.9m in internet-based wagers.
DraftKings again placed second with $59.3m from $652.3m in sports bets, then Caesars with $10.9m from $193.2m.
BetMGM, the joint venture of Entain and MGM Resorts, was next with $7.2m in revenue off a $107.6m handle. Rush Street Interactive followed with revenue of $3.3m and $114.2m in bets.
Next in New York was PointsBet with $1.3m in revenue from $27.6m in player bets. October could be one of the final months where the PointsBet brand will feature in the state after Fanatics recently completed the acquisition of the PointsBet US business in a number of markets, including New York.
A further $894,039 in revenue came from Resorts World Bet, which processed $7.7m of bets in total. The final contributor was Wynn Interactive, reporting revenue of $313,362 along with a $12.3m monthly handle.
The only other licensed online operator in New York is BallyBet. However, the brand has not taken any bets in the state since June due to Bally Bet being closed while it continued to make improvements to its offering.
New York Mets owner unveils Hard Rock casino plan
The record monthly online figures come on the back of a key development in the New York land-based market.
Last week, New York Mets owner Steve Cohen and Hard Rock International unveiled plans for a casino at Citi Field. The $8bn Metropolitan Park complex would rise on 50 acres of parking lot space surrounding the ballpark in Queens, New York City.
Included in the proposal is a Hard Rock hotel and casino and separate sportsbook site. Both of these are subject to the relevant licences being secured. There will also be a live music venue, tailgate park, food hall and 20 acres of new park space.
Formalised plans have been developed in the three years since Cohen acquired the Mets. His team has hosted more than 15 community workshops and conducted over 20,000 door-to-door conversations. Over 89% of those that have been engaged door-to-door have signed a petition in support of the project.