New York City Sets Sports Betting Revenue Record In November

Empire State online sports wagering operators recuperated from a less-than-stellar October with a record-setting November.


The New York City Gaming Commission reported that the 9 mobile sportsbooks integrated to produce $231.7 million in earnings, a new national month-to-month high, on the second-best handle ever of $2.3 billion.


November profits increased a tremendous 53.5% from November 2023, and the brand-new record trounced the previous one, embeded in January, by 9.5%. The strong month came despite gamblers keeping the hold to 7% during Thanksgiving week when a record $592.9 million was bet.


Sportsbooks took pleasure in increased margins, thanks to less customer-friendly NFL results than the previous month when October earnings of $176.3 million fell 14% month-over-month.


November marks the fourth month year-to-date with profits of more than $200 million as New york city operators produced a 10.2% hold, 3 points greater than in November 2023 and 2.6 points much better than in October.


The amount bet was up 7.4% year-over-year and reached $2 billion for the third successive month, connecting a New york city high. Betting dollars decreased 2.4%, despite a hectic, popular sports month that included NFL, college football, NBA, college basketball, and NHL.


New annual tax record


Behind the 51% tax rate, sports betting operators put $118.1 million in Empire State's coffers, the most ever.


The year-to-date tax revenue overall has actually exceeded $965 million from online sports betting. That's currently the most New york city, which made more than $860 million last year, has received given that wagering went reside in Jan. 2022.


The Empire State will easily eclipse $1 billion in tax profits in a single year for the very first time following December's haul.


FanDuel reaches $900 million again


FanDuel represented more than 43% of New york city's entire November earnings. The online sportsbook produced $102.6 million on a state-best $921.2 million deal with behind an 11.4% hold.


FanDuel is likewise the only New York sports betting operator to cross $900 million bet in a single month, which it has actually now done three times consisting of consecutive months. The sportsbook fell just shy of its record $925 million deal with set last November.


DraftKings finished second with a handle of $745.4 million and joined FanDuel as the only New york city operators to take in more than $7 billion in wagers year-to-date. DraftKings likewise utilized a double-digit hold to carry in $77.1 million in revenue, its second-highest monthly overall in 2024.


Fanatics shines


Fanatics Sportsbook passed BetMGM and Caesars for the third-best deal with in New york city in October and duplicated that position again in November behind a $170.2-million month. BetMGM wasn't far behind with a deal with of $167.7 million, while ended up fifth with $158.1 million wagered.


BetMGM's $14.4 million in profits is a new record for the online operator in New York. Caesars produced $14.2 million in earnings, its finest month considering that last December.


BetRivers took seventh location in New York with a handle of $47.6 million, ahead of ESPN BET's $39 million. Bally Bet had its best earnings month ever in New york city, producing $1.2 million from an 11% hold on a $10.6 million manage.