New York sets online sports betting revenue record in December

January 5, 2024 4:23 PM
Photo: Shutterstock
  • Conor Murphy, Special to CDC Gaming Reports
January 5, 2024 4:23 PM
  • Conor Murphy, Special to CDC Gaming Reports

New York generated $188.3 million in revenue from online sports betting in December, surpassing the previous record of $166.3 million set in October, according to figures from the New York State Gaming Commission. It is an increase of 13.2 percent and 24.8 percent from revenue generated in October and November, respectively.

With a handle of $2.04 billion, December was the third consecutive month with New York betting generating a handle of more than $2 billion, a threshold the state first crossed in October. The next month, the state registered a $2.11 billion betting handle, breaking its own record, meaning the betting handle declined slightly in December. However, this total marked a 25.7 percent increase from December 2022.

The figures also show that New York’s online sports betting market continued to flourish during the holiday week between Christmas and New Year’s, with the state’s nine online sportsbooks generating a handle of $465.7 million during that period . High-profile football and basketball clashes, including the college football’s bowl season and the NBA’s Christmas Day schedule, presented many opportunities for New Yorkers to wager.

The record revenue for December comes despite two of the nine licensed operators in the state reporting losses. Wynn Interactive experienced a loss of $323,464 from $9.2 million in bets, marking its second straight month of losses in New York. BallyBet recorded a loss of $252,433 from a $6.6 million handle. BallyBet had only recently restarted its online sports betting operations in New York in November after a pause in July.

FanDuel, owned by Flutter Entertainment, continued to lead the market in New York, generating $93.6 million in revenue from $834.5 million in bets during December. DraftKings followed with $65.2 million in revenue and a $773.4 million handle.

Caesars secured the third spot with $15.9 million in revenue from $202 million in bets, while other operators, such as BetMGM and Rush Interactive, also reported solid performances for the month, with revenues of $8.1 million and $3.1 million, respectively.

 

 

 

 

Conor Murphy is a US staff writer for Major League Content covering gambling news and sports. With a degree in journalism and a background in pro-sports news and media, Conor provides coverage on a range of gambling industry topics. He’s a fan of the Las Vegas Raiders and North Carolina Tar Heels.