1 New York Sets Sports Betting Revenue Record In November

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

The New York Gaming Commission reported that the nine mobile sportsbooks combined to produce $231.7 million in profits, a new national regular monthly high, on the second-best deal with ever of $2.3 billion.

November profits spiked a tremendous 53.5% from November 2023, and the new record trounced the previous one, embeded in January, by 9.5%. The strong month came in spite of wagerers keeping the hold to 7% throughout Thanksgiving week when a record $592.9 million was wagered.

Sportsbooks enjoyed increased margins, thanks to less customer-friendly NFL outcomes 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 revenue of more than $200 million as New York operators produced a 10.2% hold, three points higher than in November 2023 and 2.6 points much better than in October.

The quantity wagered was up 7.4% year-over-year and reached $2 billion for the 3rd consecutive month, connecting a New York high. Betting dollars decreased 2.4%, regardless of a busy, popular sports month that included NFL, college football, NBA, college basketball, and NHL.

New yearly 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 profits overall has actually gone beyond $965 million from online sports wagering. That's currently the most New york city, that made more than $860 million last year, has received because wagering went reside in Jan. 2022.

The Empire State will quickly eclipse $1 billion in tax revenue 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's whole November profits. The online sportsbook produced $102.6 million on a state-best $921.2 million manage behind an 11.4% hold.

FanDuel is also the only New York sports to cross $900 million wagered in a single month, which it has actually now done 3 times including successive months. The sportsbook fell simply shy of its record $925 million handle set last November.

DraftKings ended up second with a deal with of $745.4 million and signed up with FanDuel as the only New york city operators to take in more than $7 billion in wagers year-to-date. DraftKings also utilized a double-digit hold to carry in $77.1 million in profits, its second-highest regular monthly total in 2024.

Fanatics shines

Fanatics Sportsbook passed BetMGM and Caesars for the third-best deal with in New York in October and reproduced that position once again in November behind a $170.2-million month. BetMGM wasn't far behind with a manage of $167.7 million, while Caesars completed fifth with $158.1 million wagered.

BetMGM's $14.4 million in earnings is a new record for the online operator in New york city. Caesars produced $14.2 million in revenue, its finest month since last December.

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