New York Posts Record-Breaking Online Sports Betting Revenues in January

New York continues to break its online sports betting revenue records month after month, once again publishing unprecedented results in January. According to official data, licensed sportsbooks recorded a total sports betting GGR of $211.5 million.

This figure smashes December’s previous record, attesting to the fact that the New York betting sector is yet to unfold its full potential. For reference, sportsbooks posted revenue of $188.3 million in December 2023.

Sports betting handle, on the other hand, failed to surpass the $2 billion mark just barely as the state’s sportsbooks reported handling a total of $1.96 billion in bets. Despite the slight decrease on December, this figure still represents a significant 11.5% year-on-year increase from January 2023.

While this figure interrupts New York’s $2 billion monthly handle streak, the overall results are still very positive.

FanDuel’s Market Share Exceeded 50%

Taking a look at how The Empire State’s licensed sportsbooks performed, data shows that FanDuel maintained its lead with a handle of $867.1 million. Thanks to that, the betting giant singlehandedly scooped up $109.2 million of the total GGR. This is notably the highest figure ever reported by a single operator in the state.

American betting powerhouse DraftKings came in second, recording a total of $664.8 million bets, which translated into GGR of $71 million. Caesars Sportsbook rounded up the top three with a handle of $198 million and revenue of $13.6 million.

Caesars was followed by BetMGM, which handled $118.8 million, resulting in $10 million in revenue. Rush Street Interactive, meanwhile, recorded a sports betting handle of $50.1 million and a GGR of $3.5 million. PointsBet players, on the other hand, wagered $31.7 million, resulting in revenue of $2.6 million.

Resorts World Bet trailed PointsBet with $6.9 million in bets and $752,478 in revenue. The last two spots were occupied by Bally Bet and Wynn Interactive, which posted $425,689 and $358,497 in revenue, respectively. Bally recorded a handle of $9.4 million while Wynn Interactive handled $8.8 million.

New York Sets Sights on Expanded Gambling Industry

In the meantime, New York continues to fight for the legalization of online casino gaming as Senator Joseph Addabbo introduced a new iGaming bill in the state. Unlike previous proposals, this one would allow the state to also launch online lotteries.

The bill in question just received an amendment and was recommitted to the New York Senate Racing, Gaming and Wagering Committee.

In other New York-related news, it seems that the Downstate casino licensing will be delayed further.