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New York mobile sports betting explodes in November

New York is currently witnessing a concerning increase in mobile sports betting. The state experienced a record-breaking increase of $2.1 billion in revenue during November, surpassing the previous milestone of $2.0 billion reached in the previous October. By merging the two handles, the fiscal year will exceed the extraordinary sum of $12 billion.

New York is the jurisdiction with the most rapid expansion of the best sportsbooks. It has amassed a handle of $25 billion, significantly more than any other state in the United States. This increased development is attributable to FanDuel and DraftKings, which account for nearly 80% of all mobile betting in the state.

Regarding FanDuel, its mobile betting handle experienced a significant surge, from $891.9 million in October to $925.4 million in November. Concurrently, DraftKings recorded a revenue of $732.1 million in November, up from $652.3 million in October.

BetMGM, on the other hand, remained steady, with more than $100 million in mobile sports betting over three months. November brought in $120.6 million. Where Caesars Sportsbook is concerned, the figure was $200 million via mobile sports betting. The revenue related to education was $77 million in the state. Platform providers, on their part, collected nearly $74 million in revenue.

Despite a slight downward trend in gross gaming collections related to mobile sports wagering in November, the figure was $150.9 million. In contrast, the total fiscal year’s collection has exceeded the mark of $1 billion.

According to the New York State Gaming Commission, the mobile sports wagering collection stood at $55.9 million, ending on December 10, 2023. This is the 3rd biggest collection, over 101 weeks, of mobile betting applications that have been introduced in the state of New York.

Michael Grant

Michael writes news articles covering covering whole casino industry. He is passionate about online poker games. He regularly contributes in-depth news stories regarding casino industry and legislations.

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