New York is currently witnessing a concerning increase in mobile sports betting. The state experienced a record-breaking increase of $2.1 billion in revenue during November, surpassing the previous milestone of $2.0 billion reached in the previous October. By merging the two handles, the fiscal year will exceed the extraordinary sum of $12 billion.
New York is the jurisdiction with the most rapid expansion of the best sportsbooks. It has amassed a handle of $25 billion, significantly more than any other state in the United States. This increased development is attributable to FanDuel and DraftKings, which account for nearly 80% of all mobile betting in the state.
Regarding FanDuel, its mobile betting handle experienced a significant surge, from $891.9 million in October to $925.4 million in November. Concurrently, DraftKings recorded a revenue of $732.1 million in November, up from $652.3 million in October.
BetMGM, on the other hand, remained steady, with more than $100 million in mobile sports betting over three months. November brought in $120.6 million. Where Caesars Sportsbook is concerned, the figure was $200 million via mobile sports betting. The revenue related to education was $77 million in the state. Platform providers, on their part, collected nearly $74 million in revenue.
Despite a slight downward trend in gross gaming collections related to mobile sports wagering in November, the figure was $150.9 million. In contrast, the total fiscal year’s collection has exceeded the mark of $1 billion.
According to the New York State Gaming Commission, the mobile sports wagering collection stood at $55.9 million, ending on December 10, 2023. This is the 3rd biggest collection, over 101 weeks, of mobile betting applications that have been introduced in the state of New York.
