NY State Players Spend $1.77bn on Online Sports Bets in February

Last month, New York announced record-breaking online sports betting revenue for January 2024, continuing its uninterrupted online sports betting revenue records one month after the next. 

Licensed sportsbooks reached a total sports betting gross gaming revenue of $211.5 million, as officially reported.

The February 2024 numbers are in and this is what they look like. 

NY State Players Spent $1.77bn on Sports Online 

Last month, NY’s players spent no less than $1.77 billion on online sports wagers. At the same time, the revenue amounted to $131.4 million.

The Empire State’s February total went up 20.4% compared to the month of February 2023 when the state recorded $1.47 billion. 

At the same time, last month’s figure was 9.7% lower compared to January 2024’s $1.96 billion and also marked the lowest monthly amount reached by the state since September 2023 at $1.76 billion.

NY’s gross gaming revenue went up by 21.3% in February 2024 to $131.4 million compared to last year’s figure ($108.3 million). 

At the same time, the February total marked a drop of almost 38% compared to January 2024’s $211.5 million and the lowest since August 2023’s $98.5 million.

FanDuel, Still in the Lead

As for operators, Flutter Entertainment’s FanDuel stayed in the lead with $63.4 million in revenue from $720.1 million in handle. Both numbers were higher compared to the rest of the operators. 

The first runner-up was DraftKings with a revenue of $53.4 million and $607.9 million in placed bets. 

Caesars Sportsbook announced a handle of $161 million and $6.7 million in revenue followed by Rush Street Interactive with $3 million in revenue from $46.9 million in total bets.

Fanatics, the freshest brand to launch in the state at the start of March, generated $2.9 million in revenue and gathered $82.9 million in bets.

BallyBet published revenue of $724,041 and a $9.7 million in handle. BetMGM came in next with a revenue of $580,224 off a handle of $129.7 million followed by Resorts World with $544,361 in revenue of $8.3 million.

The February figures mean total spending for the financial year to date amounted to $17.8 billion, marking an 8.6% rise from $16.40 billion at the same time in the previous year.

The state’s revenue for the 11 months that ended on February 29 totaled 1.61 billion, signaling a 10.5% growth.