Tuesday, December 6, 2022

June FanDuel continues New York lead with 55 market share

FanDuel has continued its domination of New York’s iGaming and online sportsbook market, taking 55% of the market share and 45% of the handle. 

DraftKings remains second place with a 23% share of New York’s revenue and 26% of its handle.  

Meanwhile, Caesars took third for handle with 15% but its revenue share slumped to fourth position at 9%. 

New York’s overall market generated $72.4m for June, down a marked 34% year-on-year in what is the first month the state reported less than $100m in monthly revenue since February 2022. 

This has been widely ascribed to a lack of major sports betting events to place bets on during the month, something likely to continue throughout the summer.  

Despite the overall revenue dropping, FanDuel will surely be pleased to increase its market share. In March, one of New York’s most lucrative months, FanDuel’s share of the market was 48%. 

New York’s handle, however, remained above $1bn. The Empire State took $1.05bn for June, the lowest figure since the state’s market launched in January. This is despite New York remaining above the $1bn threshold. 

Elsewhere, Flutter’s domination has persisted in Iowa, where the operator led sports betting revenue with a 45% share of the market.  

Flutter’s closest competitor in Iowa was DraftKings, which took 28% of the market share.  

The overall picture for Iowa was not so rosy, sports betting revenue fell 22% to $6.6m in June. 

In fact, FanDuel at Boyd’s Diamond Jo Dubuque and Caesars Sportsbook at Harrah’s were the only Iowa casinos to report sports betting growth.   

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