They did it again. The US is firmly in the midst of peak sports season and betting period, and New York’s top sportsbooks set a new revenue record in November.
Combined, New York's legal sports betting operators generated $232 million in revenue for the penultimate month of the calendar year. That was off a total handle of $2.3 billion.
November revenue was up $55 million on the previous month though handle fell 2.4% from the highest ever of $2.32 billion in October. Total betting activity in New York for November increased by 54%, the biggest year-on-year increase yet.
FanDuel further cemented its place as New York’s biggest sportsbook for revenue with $103 million in November. The month is the second on record in which the Flutter-owned brand has topped $100 million with a best of $109 million in January. FanDuel posted a November handle of $921 million.
DraftKings remains the second-highest player, recording $77.1 million in revenue during November. That figure was held from a total handle of $745 million.
Between them, FanDuel and DraftKings accounted for 74% of all wagers made in the Empire State and 78% of revenue last month. But there are signs that the dominance of the duo could be chipped into during 2025. By comparison, the pair had around 80% of the New York market this time last year.
Notably, Fanatics and BetMGM’s NY sportsbook had good months in November with the former recording a handle of $170 million and the latter slightly behind on $168 million. Respective revenue returns were $13.8 million and $14.4 million.
That handle number was almost double that which BetMGM took in November 2023 and for Fanatics, market share has tripled in the same period from 3% to 6%. Fanatics has been the fastest-growing sportsbook in New York this year, though it did only launch at the end of February.
Caesars may be the biggest casualty of growth elsewhere. Its November handle of $158 million represented a 23% drop year-over-year.
Despite being the second smallest sportsbook in New York, Bally Bet still shows signs of life. The Rhode Island-headquartered operator saw its handle grow by 146% from November 2023 to the same month in 2024 when it took $10.6 million in bets.
Resorts World Bet continues to sit bottom of the pile with a handle of £5.4 million in November. BetRivers remained ahead of ESPN Bet with just short of $47 million against the Penn Entertainment-powered book on a little under $40 million.
New York’s complete betting industry is a certainty to have its best-ever year when 2024 draws to a close. Total dollars wagered in the Empire State for this calendar year so far sat at $20.3 billion as December began. At this stage in 2023, the combined handle was a little over $17 billion.
Revenue was just below $1.9 billion at the end of November meaning that the landmark of $2 billion to be held by NY sportsbooks in this calendar year also looks a sure thing. A busy holiday season of sports involving New York teams - not least the Knicks playing Christmas Day - will only help.
New York’s online sports betting industry has reached unprecedented heights, with record-breaking months showcasing its rapid growth and nationwide dominance. The $231.6 million revenue in November and the $2.3 billion handle in October highlight the state’s unmatched popularity among bettors and its significant contributions to public programs.
