Monday, September 26, 2022

The March to 5bn New York sees 1 64bn in sports wagers 114 3m in revenue

January to March saw almost $5bn worth of online sports wagers in the state of New York, with over $300m in revenue generated during the period.

That tally follows another positive month for the region, as March Madness inevitably drew sports bettors to their apps and browsers in the third calendar month of 2022.

New York’s online sportsbooks saw $1.64bn in handle (total wagers) for the month of March, according to the New York State Gaming Commission.

That figure is up 7% month-on-month, though just below January’s total of $1.67bn.

In terms of revenue, New York’s mobile sports betting outlets generated considerably more than the previous month.

While February’s sports betting activity saw operators win $82.4m, with players betting a little less and winning a little more overall, March generated gross revenue of $114.3m.

Looking at year-to-date figures, which is essentially a Q1 report at this stage, New York has generated $4.8bn in wagers, with $320.8m in gross revenue.

Flutter Entertainment-owned FanDuel has been the clear market leader during the early showings of New York’s legal online sports betting market.

Caesars is still packing a punch, despite dipping since its opening-week numbers, while DraftKings also has a significant share of the market (moreso than Caesars, in fact).

FanDuel’s lead is such in New York, however, that its share is more comparable to that of Caesars and DraftKings combined.

The rest of the market is made up by the likes of BetMGM, PointsBet, Rush Street Interactive and Wynn Resorts, who are vying for a small segment between them.

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