New York Celebrates Another Record-Setting Month in November

The conclusion of 2023 is proving to be a record-breaking period for the legal sports betting industry in New York.

The Empire State achieved a milestone in October by becoming the first state in the U.S. to reach a $2 billion monthly handle in legal sports betting. Not content to stop there, New York sports betting apps surpassed that record in November.

No state has reached the $2 billion milestone except for New York, which has achieved this feat for two consecutive months. Additionally, New York now holds the record for the top 15 highest handles ever recorded in a single state within a one-month period since the 2018 Supreme Court decision to legalize sports betting nationwide.

FanDuel New York and DraftKings New York went head-to-head once more to determine New York’s top sports betting site. The competition resulted in a tie between the two sites on the main metrics.

New York sets a new high in handle

In November, the New York State Gaming Commission reported that $2,109,294,400 was spent with the state’s mobile sports wagering providers. This marked a significant increase from the previous record of $2.006 billion set in October. The September record of $1.77 billion was also surpassed, with many individuals utilizing top New York sportsbook promotions for their bets.

The $2,109,294,400 represents a significant increase of over $545 million compared to the $1,564,144,672 from November 2022.

Revenues not reaching record levels

Despite the surge in sports betting activity during the current NFL season, revenues at the top sports betting apps have not matched the record handles.

In November, New York’s gross gaming revenue reached $150,903,281, which is a solid figure but falls short of the record $166.3 million in October. It also lags behind the $165.6 million in GGR from September, the previous record before October.

Compared to the previous year, there was a slight increase in gross gaming revenues. Last month’s revenue of $150,903,281 was higher than the $149,244,901 generated in November 2022. It is important to note that overall wagering activity in November 2023 was over half a billion dollars more than in November 2022.

New York’s top sportsbooks contributed $76.9 million in tax revenue in November to support state and local services.

FanDuel tops handle, DraftKings wins revenues

The New York State Gaming Commission provides weekly updates on the performance of their approved sports betting applications, such as Caesars, DraftKings, FanDuel, BetMGM, WynnBET, PointsBet, Bally Bet, Resorts World Bet, and BetRivers.

FanDuel and DraftKings remained in competition for dominance in New York sports betting last week, with both securing a win for the week ending Dec. 3.

FanDuel led in weekly handle at $194,664,678 but came in second in revenue at $12.2 million. DraftKings followed closely behind in handle at $193,588,844 but took the top spot in revenue at $13.5 million.

Caesars Underscoreg ranked third in bets for the week, bringing in $45,765,735. BetMGM followed in fourth place with $25,076,947. BetRivers was the only other New York sportsbook to surpass the $6 million mark, collecting $15,938,847 for the week.

FanDuel has emerged as the top New York sports betting site since legal sports betting launched on Jan. 8, 2022, with a lifetime handle of $13,584,170,041. DraftKings follows with $10,653,547,092, Caesars is in third place with $4,753,883,159, BetMGM is fourth with $2,468,456,006, and BetRivers rounds out the top five with a New York handle of $983,733,761 since its launch.