New York sets $231.6 million online sports betting revenue record in November

Revenue from online sports betting was 53.5% higher than $150.9 million in November last year. It also surpassed the $176.3 million posted in New York in October this year by 31.4% and beat the state’s existing record – $211.5 million in January – by 9.5%.

Spending-wise, data from the New York State Gaming Commission reveals monthly handle for November hit $2.27 billion. This is the second-highest monthly amount on record since the state launch legal online betting in January 2022.

November’s handle total is 7.6% more than last year but fell 2.2% short of October’s record $2.32 billion spend. As for hold, the state-wide total for the month was 10.22%, a marked improvement from 7.60% in October.

FanDuel pulls further clear of DraftKings in New York

Looking now to operators, there is seemingly no stopping FanDuel in New York. The Flutter-owned brand increased its lead of long-term rival DraftKings in November, with revenue in excess of $100 million. For the month, FanDuel reported $102.6 million in revenue off a $921.2 million handle for an 11.14% hold.

DraftKings was around $25 million behind this figure, posting $77.1 million in monthly revenue. Having taken $745.4 million in online wagers, this meant a hold of 10.34%.

Rounding off the top three was BetMGM, which jumped from fifth to third in the revenue rankings. BetMGM posted $14.4 million in revenue from $167.7 million handle for an 8.59% hold.

Caesars, which was fourth in October, was just behind BetMGM on $14.2 million in revenue off a $158.1 million handle. This resulted in a monthly hold of 8.99%.

Fanatics, the only other operator to see revenue reach double digits in November, slipped from third to fifth. It reported $13.8 million in revenue from a $170.2 million handle, which was higher than both BetMGM and Caesars. Fanatics’ hold for the month was 8.11%.

ESPN Bet enjoys best month to date

Rush Street Interactive was the best of the rest, placing sixth with $4.3 million in revenue off a $47.6 million handle. This placed its hold for the month at 9.03%.

ESPN Bet followed with revenue of $3.5 million, its highest monthly total since launching in New York in September. Processing $39.0 million in sports wagers, this meant a monthly hold of 8.97%.

Bally Bet took eighth spot with $1.2 million in revenue off a $10.6 million handle for a hold of 11.32% – higher than any other operator in the state. Resorts World Bet rounded off the New York market in November, reporting $567,119 in revenue from a $5.4m handle. This left the operator with a decent hold of 10.58%.