New York Sets Online Sports Betting Revenue Record in January
Date: 2024-02-13 Author: Dima Zakharov Categories: SPORTS BETTING
Record-Breaking Revenue
In January, New York's online sports betting scene witnessed an extraordinary surge in revenue, marking a consecutive record-breaking month. Operators raked in an impressive $211.5 million, surpassing December's record by 12.3%. This figure also represents a substantial 41.6% increase compared to January 2023's revenue of $149.4 million.
Steady Wagering Activity
Despite a slight dip from December, the betting activity remained robust. Players wagered a total of $1.96 billion during January, showcasing a resilient 9.5% increase from the previous year. However, this amount fell short of the record-breaking $2.10 billion reported in November.
FanDuel Dominance
FanDuel, a leading operator in the New York market, solidified its position by clinching a state record. With a remarkable $109.2 million in online betting revenue, FanDuel set a new benchmark for individual operators. This accomplishment also marked the first instance of any licensee surpassing the $100 million mark in monthly revenue.
Competitive Landscape
While FanDuel maintains a significant lead, other operators like DraftKings also saw notable growth. DraftKings secured its highest monthly revenue at $71.0 million, indicating a competitive landscape in New York's online sports betting market.
Governor's Decision on iGaming
Despite the thriving sports betting sector, the outlook for online gaming in New York remains uncertain. Governor Kathy Hochul's exclusion of iGaming from the 2025 executive budget dealt a setback to the hopes of its proponents. Senate Bill S8185, aimed at introducing online gaming, remains under review in the New York Senate, with its fate hanging in the balance.
