Mobile Sports Betting Surpasses $2 Billion in New York for Third Consecutive Month
In a historic achievement, New York has become the first state to surpass a betting handle of $2 billion for three consecutive months. The latest data released by the New York State Gaming Commission has confirmed that the mobile sports betting market in the state is showing no signs of slowing down.
In December 2023, mobile sports betting operators in New York reported a betting handle of $2.04 billion, coming very close to the record set in November with a handle of $2.11 billion. While the handle did not exceed the previous month’s result, there was a significant increase in the mobile sports wagering gross gaming revenue (GGR). Operators posted a record $188.3 million in GGR, marking a $37.4 million increase from the previous month.
Comparing the results to the previous year, there has been substantial growth. In December 2022, the betting handle was $1.62 billion, showing a nearly 26% increase to the $2.04 billion handle in December 2023. The GGR also saw a year-over-year increase of nearly 33%.
FanDuel and DraftKings, two of the leading operators in the market, maintained their leadership positions in New York. FanDuel reported the highest betting handle of $834.5 million in December, with a sports wagering GGR of $93.6 million. DraftKings followed closely with a betting handle of $773.4 million and a GGR of $31.9 million.
The third position was secured by Caesars Sportsbook, which reported a mobile betting handle of nearly $202 million and a GGR of $15.9 million. BetMGM also had a strong month with a betting handle of $126.5 million, bringing in $8.1 million in GGR.
The operators’ share of the GGR reached another all-time high at $92.3 million, reflecting the market’s robust performance. Additionally, New York’s net revenue to education hit $96 million, showing a significant increase from the previous year.
The consistent growth of the mobile sports betting market in New York is a positive sign for the industry and the state’s economy. With operators reporting record-breaking results month after month, the future looks promising for mobile sports betting in New York.