New York breaks online sports betting revenue record again in January
The January total was 12.3% ahead of the previous record of $188.3m set in December of 2023. It was also 41.6% more than the $149.4m reported in New York in January last year.
In terms of handle, players wagered a total of $1.96bn during the month. This was 9.5% up from $1.79bn in January 2023 but 3.9% less than December’s $2.04bn. It was also 6.7% behind the record $2.10bn reported in November last year.
However, January marked the end of a three-month run of New York players spending more than $2.00bn betting on sports online. The state first surpassed the $2.00bn milestone in October 2023.
FanDuel clinches monthly revenue record in January
Looking at individual operators, Flutter Entertainment’s FanDuel remains the frontrunner by some distance.
In January, FanDuel claimed a state record of its own, posting $109.2m in online betting revenue, the highest figure ever posted by a single operator. It was also the first time any licensees reported in excess of $100.0m in one month. FanDuel processed $867.1m in wagers during the month.
Elsewhere, DraftKings was second with $71.0m in revenue, although this was also its highest monthly total to date. The operator took $663.8m in online bets.
The chasing pack in New York
FanDuel and DraftKings are some way ahead of other licensees in New York. Placing third in January was Caesars with revenue of $13.6m from $198.0m in bets during the month.
BetMGM was next with $10.0m in revenue off a $118.8m handle, then Rush Street Interactive with $3.5m from $50.1m. PointsBet followed with revenue of $2.6m and a $31.7m handle.
Resorts World Bet posted $752,478 from $6.9m and Bally Bet $425,689 off $9.9m. Rounding off the market is Wynn Interactive with $358,497 in revenue off an $8.8m total spend.
New York faces longer wait for online gaming
While the New York online sports betting market continues to grow, the prospect of igaming in the state was dealt a blow last month. Governor Kathy Hochul failed to include igaming in her 2025 executive budget.
This came despite New York state senator Joseph Addabbo’s filing of a revised igaming bill. Senate Bill S8185 built on Addabbo’s previous attempt to introduce online gaming in the Empire state. But this comes with one key difference – the inclusion of ilottery.
However, despite the exclusion of igaming, Hochul did insert a provision to extend a number of pari-mutuel, racing, wagering and breeding law provisions that were about to expire. The extension accounts for a period of one year.
Senate Bill S8185 remains at the committee stage in the New York Senate.