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Sports Betting revenue rise in New York
Despite the lowest bet amount for the year, New York’s mobile sports betting saw a revenue rise due to better hold.
According to the New York State Gaming Commission, New York sports betting spending in July was $1.26bn (£988.8m/€1.16bn) 31.2% more than August 2023 but 14.3% less than $1.47bn bet in June.
July is considered to be the quietest month for US sports. However, the final week of July saw a boost from the start of the Olympic Games and the hosted Copa América in the first half of the month, helping drive a year-on-year increase.
Flutter Entertainment’s FanDuel hits 12% of the total bets of $482.5m, which is equal to $59.3m.
DraftKings secured second place by having a handle of $456.7m and a 10.5% hold of $48m revenue earned.
The only other operator to generate more than $1m in revenue was Rush Street Interactive, with $35.4m wagered and revenue of $35.4m. Mobile sports betting has surged to $6.67 billion, a 32.6% increase from last year. FanDuel and DraftKings dominate, making up 76.5% of the total handle with $5.10 billion.
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