New York has posted a healthy year-on-year increase in its monthly sports wagering handle for September, reporting a 32.4% rise to $2.287 billion.
That was the second highest monthly mobile sports betting handle recorded by the New York State Gaming Commission, falling not far short of the $2.32 billion documented for October 2024.
There is a cautionary note though, depending on whether you are a glass half full or half empty kind of person.
In New York State there is presently more money being wagered online than last year but less revenue being generated.
Sports Handle Up But Revenue Down
The gross gaming revenue (GGR) generated from that $2.287 billion handle dropped by 4.9% compared to September 2024, falling from $204.7 million to $193.8 million.
However, that news was offset by the fact GGR had increased 8.8% when compared with August’s figure, so on a month-by-month basis things are moving in the right direction.
The big Kick-off of the NFL season during September certainly helped drive revenues forward.
New York online sports betting revenue jumped $28.5 million for the week ending September 14 as the season kicked into gear, compared with the first seven days of the month.
Battle Of The New York Betting Giants
The traditional duo dominating New York’s online sports betting market is FanDuel and DraftKings, with Fanatics the only other operator standing out from the rest of the crowd.
Flutter-owned FanDuel accounted for 40% of all betting revenue earned through September, reporting a handle of $790.4 million, from which it generated GGR of $77.6 million.
DraftKings was not far behind, reporting a higher handle of $870.6 million but a lower GGR of $66.7 million.
Fanatics pulled in $219 million in wagers, a 52.9% year-on-year increase which went on to produce $20.5 million GGR for the month.
DraftKings is presently available in 27 US States for online sports betting, casino games and Daily Fantasy Sports.
The Boston-based gambling behemoth reported record Q2 revenue of $1.5 billion this year, a new quarterly record, with its sportsbook contributing $997.9 million to that overall figure.
Among its many high-profile brand associations with sports organisations, DraftKings is the official sports betting partner and daily fantasy partner of the NFL.
Flutter views FanDuel as one of its star assets and secured 100% of the business in July by purchasing Boyd Gaming’s remaining 5% stake in the company for $1.76 billion.
Earlier this month it was announced that FanDuel betting tools would feature in live NBA coverage through an Amazon Prime partnership.
Fanatics began life as a sports apparel and trading card business and is a relative newcomer to the online sports betting arena but has made rapid progress over the past two years.
It’s gambling arm Fanatics Betting and Gaming opened its first retail sportsbook in January 2023 at the home of the Washington Commanders in Maryland.
It now boasts 21 retail locations across the US
In May 2023, Fanatics launched the first beta version of its sportsbook app and in August the same year acquired the operating businesses of PointsBet USA.
Its sportsbook is now available online in 22 states and the District of Columbia.
Decision On New Casinos For New York
The New York State Gaming Commission is presently considering four remaining bids that are vying for one of three licenses to develop new land-based casinos.
The four proposed projects are Bally’s New York Casino at the site of the old Donald Trump course at Ferry Point, Metropolitan Park near Citi Field in Queens, Resorts World New York City in Jamaica, Queens, and MGM Empire City in Yonkers, Westchester.
A decision is expected by December 1.
In the meantime, there was positive news from the existing retail casino industry in the state, with GGR for slot and electronic table games in September reaching $40.7 million, a 3.5% year-on-year improvement on the $39.3 million recorded in 2024.
Slot handle had come in at $507.9 million with $6.2 million of that being accounted for by promotional credits.
That was still a 2.9% improvement when compared with the same month last year.
Table game revenue reached $15.2 million, a 6.3 rise on last year’s $14.3 million, while poker’s $822,836 was a 5.9% increase.
