The Empire State’s sports betting operators have reached a milestone in November, with the total handle hitting $527.2 million in the week ending Nov. 10. This marks the fourth consecutive week with wagers exceeding $500 million, a first in the history of sports betting in New York.
One notable achievement during this period is the fact that mobile sportsbooks in the state have generated over $50 million in revenue for three weeks in a row. This demonstrates the increasing popularity and profitability of online sports betting platforms in New York.
Compared to the same period last year, there has been a significant increase in both the amount of money wagered and the revenue generated. This growth trend indicates a positive trajectory for the sports betting industry in the state.
FanDuel emerged as the top performer among New York sports betting operators, with a $215 million handle and an 11.3% hold resulting in $24.4 million in revenue. DraftKings, on the other hand, saw a slight decrease in both handle and revenue but still managed to maintain profits above $15 million for the third consecutive week.
BetMGM had a particularly successful week, recording its second-highest revenue ever at $4.9 million. With a handle of $43.5 million, BetMGM ranked third among New York operators, showcasing its growing presence in the market.
Other operators like Fanatics, Caesars, and ESPN BET also had strong performances, contributing to the overall success of the sports betting industry in New York. Despite facing stiff competition, each operator managed to attract a significant amount of wagers and generate substantial revenue.
Overall, the recent success of New York sports betting operators highlights the growing demand for online wagering options in the state. As more players participate in sports betting activities, the industry is expected to continue its upward trajectory, benefiting both operators and consumers alike.