New York sees fourth consecutive week with $500M wagers
After the wagering debut in 2022, November 2024 is positioned to take the crown in New York with its fourth consecutive week of $500M wagers.Despite the previous week's...
Sports betting revenues in New York make history with $2.32B
According to the data provided by the New York State Gaming Commission, the mobile sports betting market hit a record-breaking $2.3 billion in October bets.
In October, operators earned $176.3 million in revenues. This reflects an increase in player spending by 14.9% when compared to the same period of 2023. However, when compared to September, the numbers dropped by 13.9%. Moreover, the revenues are also down by 16.7%, which is significantly less than the record set in January 2024.
The operator win percentage, or “hold rate,” dropped from 9.9% in September to 7.6% in October. This was largely because of fewer problems in NFL games, allowing bettors to collect more winnings. During one week in mid-October, sportsbook win rates even dipped below 2%.
FanDuel and DraftKings lead New York’s sports betting market
In October, FanDuel led the sports betting market in New York, generating $77.3 million in revenue from $907.6 million in wagers. DraftKings comes next with $58.9 million in revenues. The third place was secured by Fanatics with $12.4 million. It is also important to mention that the newcomer ESPN Bet, which launched only in September, saw the strongest start with $40.8 million in handle and $3.2 million in revenue. What refers to the taxes from sports betting revenues, New York collected $89.9 million, which is a decrease from September’s $104.4 million.
Supporters to rally in favor of Wynn’s NY casino project
Following the Protect High Line group's announcement, the head of New York’s building and construction trades union announced a rally in favor of Wynn Resorts and other...
