New York sports betting revenue slips despite higher September spend

Total sports betting handle in New York during September was $1.80bn (£1.38bn/€1.65bn). This is 2.3% up on last year and 25.0% ahead of August this year.

Data released by the New York State Gaming Commission this week also shows GGR in September amounted to $159.4m. The monthly total is down 3.7% year-on-year but is 27.5% more than August.

This resulted in a state-wide hold of 8.86% for the month.

DraftKings still the one to beat

Looking at individual operators, DraftKings remains some way out in front. For September, DraftKings generated $69.7m in revenue off a $788.3m handle, leaving an 8.84% hold.

Flutter-owned FanDuel was again second, reporting $52.6m in revenue from $511.6m in total bets. Hold was 10.28%.

Caesars was the next closest challenger with $13.0m off a $147.2m handle, leaving an 8.83% hold. BetMGM was next on $10.3m from $143.9m handle, resulting in a 7.16% hold.

Elsewhere in the market, Fanatics drew $8.4m in revenue from $143.2m in bets for a hold of 5.87%. Rush Street Interactive took $3.5m in revenue from $43.4m handle, for an 8.06% hold. Next, Bally Bet had $1.1m in revenue from $10.7m for a 10.28% hold, then Resorts World reported GGR of $606,436 off $6.6m handle for a 9.19% hold.

Busy start for ESPN Bet in New York

Rounding off the market is ESPN Bet, which launched in New York on 27 September.

In its first four days of operations, it generated $103,273 in revenue from $4.0m in total bets, leaving a 2.57% hold. Penn Interactive entered the market with ESPN Bet after taking over the Wynn Interactive licence last month. Wynn exited the market in July.

During its first full week of operations in New York, daily handle per ESPN Bet user in the state was 296% higher than any other state it is active in. The ESPN Bet platform is now available in 19 US jurisdictions.