Online betting operators in New York reached another notable milestone last month, hitting new heights for both betting dollars wagered and revenue.
With Thanksgiving upon us, can NY’s nine legal sportsbooks go higher still?
The licensed sports betting sites in New York achieved a combined handle in excess of $2 billion for the first time in October, up 14% in September. That represents a huge 30% increase year on year.
Total state Gross Gaming Revenue (GGR) also rose to $166.3 million last month, breaking previous records.
There were some standout performances among the overall numbers too. The big story of October was FanDuel continuing to edge ahead of DraftKings in its bid to firmly establish itself as New York’s number one sportsbook.
FanDuel users in New York wagered $892 million in October, the biggest ever month for handle that the brand has achieved in the state.
More impressive still, its GGR number hit $83.1 million, almost $24 million ahead of second-placed DraftKings.
Last month’s handle and revenue figures represented the largest gap between the pair this year. And that meant FanDuel entered November with a staggering 50% market share. DraftKings slumped to 33%, its lowest since April.
As for the other New York sportsbooks, Rush Street continues to be the pick of the bunch among the middle-ranked operators. Its BetRivers brand achieved a handle of over $100 million for the first time, more even than top tier regular BetMGM which is itself enjoying steady growth in New York since its summer upgrades.
Elsewhere, Caesars, WynnBet and Resorts World also achieved their best months for some time, proof perhaps that there are still sufficient slices of the pie for all in New York’s booming betting industry.
Now we’re well into November, it’s worth noting that it was the second-highest month for betting handle in New York last year, just behind March Madness. Records could tumble again. For the first two weeks in November, almost every NY sportsbook was already up on the opening fortnight last month.
Sports viewing figures always rocket on Thanksgiving and its accompanying holiday weekend, particularly when there are great matchups lined up. And the same is true for sports betting action this year.
The schedulers know what they’re doing too. We’ve known since just after the NFL fixtures were released that the New York Jets will feature first up on Amazon on Black Friday.
The eagerly awaited game against long-time rivals, the Miami Dolphins, is free for all on Prime in what will be the inaugural NFL contest beamed live on the biggest retail day of the year.
In the NBA, the Brooklyn Nets are in action against the Atlanta Hawks on Thanksgiving Day, with the NY Knicks game against Miami Heat following on Saturday.
It promises to be a bumper sporting holiday week, so for shoppers, fans and bettors alike, who saved a bundle bagging Black Friday bargains; New York’s sportsbooks will be going big to tempt any leftover dollars.
