New York's Betting Sector Sets a New Financial Record in November

Key Figures from the Report

The vertical's total handle reached $2.27 billion, narrowly missing a record of $2.32 billion set in October. Industry experts anticipate even stronger results in December.

Local sportsbooks' income in November rose 31.4% month-on-month from $176.3 million and 9.5% compared to January 2024's $211.5 million. Annually, the sector’s revenues surged 53.3% from $150.9 million.

Operators' Performance

Local bookmakers reported the following GGR, handle, and hold figures:

• FanDuel — $102.6 million, $921.2 million, and 11.14%;
• DraftKings — $77.1 million, $745.4 million, and 10.34%;
• BetMGM — $14.4 million, $167.7 million, and 8.59%;
• Caesars — $14.2 million, $158.1 million, and 8.99%;
• Fanatics Sportsbook — $13.8 million and $170.2 million.

Smaller operators also showcased strong performance in November:

1. ESPN Bet. Achieved a record $3.5 million income from $39 million in stakes.
2. Bally Bet. Generated $1.2 million in revenues from $10.6 million in wagers, boasting the highest hold rate in the state at 11.32%.
3. RSI’s BetRivers. Earned $4.3 million in GGR with a handle of $47.6 million.
4. Resorts World Bet. Declared $567,119 in GGR and $5.4 million in handle.

Projections and Treasury Income

During the reporting period, robust financial performance led to record tax contributions of $118.1 million to New York’s treasury. Local authorities mandate a fixed 51% rate for sportsbooks. Year-to-date, wagering operators have collectively contributed over $965 million.

Industry specialists anticipate tax revenues will surpass $1 billion by the end of the current year. This promising outlook is tied to the sports season's peak, with nationwide broadcasts of NHL, NBA, and NFL matches, followed by the college football playoffs.