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September saw a remarkable $1.80 billion (£1.38 billion/€1.65 billion) in total handling for New York’s sports betting industry, which is still thriving. This amount is an impressive 25% rise from August and 2.3% higher than the same month last year.
According to the New York State Gaming Commission, $159.4 million was the gross gaming revenue (GGR) for the month of September. This sum is a significant 27.5% increase from August even if it represents a 3.7% decline year over year. With a statewide hold of 8.86% for the month as a result of this growth, the market performed well in spite of the minor annual decline.
In the competitive operator landscape, DraftKings remains the dominant force. The company generated $69.7 million in revenue from a handle of $788.3 million, achieving a hold of 8.84%. FanDuel, owned by Flutter, secured second place with $52.6 million in revenue from $511.6 million in total bets, maintaining a hold of 10.28%.
Caesars followed closely, reporting $13 million in revenue from a handle of $147.2 million, resulting in an 8.83% hold. BetMGM also performed well, bringing in $10.3 million from $143.9 million in bets, which equated to a 7.16% hold.
Other notable operators include Fanatics, which earned $8.4 million from $143.2 million in bets, achieving a hold of 5.87%. Rush Street Interactive reported $3.5 million in revenue from a handle of $43.4 million, resulting in an 8.06% hold. Additionally, Bally Bet recorded $1.1 million from $10.7 million in bets, with a hold of 10.28%. Resorts World reported GGR of $606,436 off a $6.6 million handle, equating to a 9.19% hold.
The introduction of ESPN Bet on September 27 marked an exciting development in the New York market. Within its first four days, ESPN Bet generated $103,273 in revenue from $4 million in total bets, achieving a hold of 2.57%. Penn Interactive, which took over the Wynn Interactive license last month, launched ESPN Bet after Wynn exited the market in July.
During its inaugural week, ESPN Bet’s daily handle per user in New York was 296% higher than in any other state where it operates. Currently, the ESPN Bet platform is available across 19 U.S. jurisdictions, further solidifying its presence in the competitive sports betting arena.