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The New York State Gaming Commission announced that New York sports betting providers recorded mobile handle of more than $2.1 billion in November, breaking the previous month’s national record. Though that sum of almost $10 million will only cap off the Empire State’s second consecutive month with more than $2 billion in accepted wagers, the precise amounts won’t be known until the NYSGC discloses data from the state’s four retail sportsbooks.
WynnBET became the second sports betting operator to end the month with a loss as players won $312,427 on bets that were taken for around $11.3 million. Of the nine mobile alternatives available in the state, this is the highest monthly loss on record. In October 2022, Bally Bet paid out $31,467 more than its $1.5 million handle.
With a total online handle of about $1.66 billion, FanDuel and DraftKings dominate the sports betting market in New York. At roughly $925.4 million, FanDuel surpassed its October record of $891.9 million, accounting for 43.9 percent of the total digital handle.
FanDuel’s revenue of $69.2 million decreased by 11.6 percent, despite a 43.2 percent increase in handling over the previous year. FanDuel’s grip of 7.5 percent was more than 4.6 percentage points lower than in November 2022 and was the lowest in a month since the company’s all-time low of 4.1 percent in February 2022. FanDuel did make more than $700 million in revenue this year, and as of the last month of 2023, their hold was slightly around 10.4%.
DraftKings’ handle increased by 46.8% to $732.1 million, surpassing its September high of $710.5 million, indicating an even greater year-over-year bounce. At slightly more than 7.4%, it almost exactly matched FanDuel’s hold to win $54.3 million and surpasses $500 million for the year. Additionally, DraftKings exceeded $6 billion in handling for the 2023 calendar year. Thanks to this year’s 8.4% hold, revenue has already surpassed $354.6 million for the entire 2022 calendar year by 42.9 percent. In addition to holding a 34.7% share of all bets accepted in New York throughout the month, DraftKings’ total handle in the state surpassed $10 billion.
With a $200 million-plus handle for the first time since March and $11.6 million in revenue with a 5.7 percent win rate, Caesars took third position in both handle and revenue. Its market share decreased from 12.9 percent to 9.7 percent even though its handle increased by 2.3 percent to $205 million year over year.
Check out the latest sports betting odds at Caesars.
The fourth and last mobile operator to reach a nine-figure handle in November was BetMGM, with $120.6 million in wagers accepted to reach the $1 billion mark for 2023. It concluded with earnings of $7.9 million thanks to a hold of 6.6 percent.
WynnBET, which is currently only present in four states, earned the unwelcome distinction of being the first mobile provider in New York to have a three-week losing streak in November. From November 6 to 26, wagerers won a total of $329,360 on $8.2 million in wagers. The last nine betting days in November yielded less than $17,000 in revenue, and it concluded with a negative 2.8 percent hold. November’s losses erased all but $935 of October’s earnings, and from this year’s $105.6 million handle, WynnBET has reported less than $4.4 million in earnings. Out of the nine operators, the hold with 4.2 percent year-to-date is the lowest by more than one full percentage point.
On the other hand, with 8.9 percent of all mobile books held, PointsBet retained over $2.4 million of the $27.2 million wagered in November. Although it was PointsBet’s greatest month since January, when revenue reached a record $3.1 million, Fanatics still needs to strengthen the acquisition’s reputation in the Empire State in 2024. With $282.1 million in handle thus far this year, PointsBet is down 26.4 percent from 2022 and has contributed less than 1.7 percent of the almost $17.1 billion wagered online in New York.
Even though BetRivers’ handle of $114.2 million in October was not as high as it was in November, at $76.6 million, it was still certainly the second highest amount ever. Its revenue increased by roughly 3.6 percentage points to an all-time high of approximately $30,000 short of $5 million, as its 6.5 percent hold increased from the previous month.
Check out the latest sports betting odds at BetRivers.
Following a lapse of almost four months, Bally Bet has recommenced its platform migration to Kambi. Over the last two weeks of November, it took in wagers totaling $4.3 million, which was its highest monthly total since it joined the market in July 2022. The winnings of $234,163 set a new record as well, surpassing the $207,727 earned in March.
