ESPN Bet hits $3 million since its New York debut

In only three days since its launch in New York, ESPN Bet generated $3 million, marking a significant entrance in the state.
PENN Entertainment’s latest addition, ESPN Bet, has been facing delays in getting a license to operate in New York since its launch through a partnership between Penn and ESPN in 2023.
However, after a long run, on September 23, the New York State Gaming Commission voted to transfer Wynn Resorts’ digital sports betting license to Penn Entertainment, making the company’s debut close to Week 4 of the NFL season. Later, on September 27, ESPN Bet made its debut in New York.
With its strong potential to compete, especially among younger bettors, excluding the group under the age of 21, ESPN can become a serious player in the state.
Betting sector in New York
New York has consistently seen more than $500 million in weekly bets during football season, celebrating its fifth straight week of surpassing $400 million.
Overall, New York’s operators generated $52.7 million in revenue this week, showcasing a robust 21.1% growth from the previous week. This success also translates to about $26.9 million in state taxes, benefiting the local economy.
FanDuel keeps dominating with a $198.2 million handle, pulling in $24.2 million in revenue. DraftKings comes next with a $196.3 million handle and $17.4 million in earnings. Resorts World and Bally Bet also had impressive hold rates of 15.2% and 13.7%, respectively.