Empire State online sports betting operators recuperated from a less-than-stellar October with a record-setting November.
The New York Gaming Commission reported that the nine mobile sportsbooks integrated to produce $231.7 million in income, a new national regular monthly high, on the second-best manage ever of $2.3 billion.
November profits surged a massive 53.5% from November 2023, and the brand-new record trounced the previous one, embeded in January, by 9.5%. The strong month came despite bettors keeping the hold to 7% during Thanksgiving week when a record $592.9 million was bet.
Sportsbooks enjoyed increased margins, thanks to less customer-friendly NFL outcomes than the previous month when October income of $176.3 million fell 14% month-over-month.
November marks the 4th month year-to-date with revenue of more than $200 million as New york city operators produced a 10.2% hold, 3 points higher than in November 2023 and 2.6 points better than in October.
The quantity bet was up 7.4% year-over-year and reached $2 billion for the third consecutive month, tying a New York high. Betting dollars decreased 2.4%, regardless of a busy, popular sports month that included NFL, college football, NBA, college basketball, and NHL.
New annual tax record
Behind the 51% tax rate, sports wagering operators put $118.1 million in Empire State's coffers, the most ever.
The year-to-date tax income overall has actually exceeded $965 million from online sports wagering. That's already the most New york city, that made more than $860 million in 2015, has gotten given that wagering went reside in Jan. 2022.
The Empire State will easily eclipse $1 billion in tax revenue in a single year for the first time following December's haul.
FanDuel reaches $900 million once again
FanDuel accounted for more than 43% of New york city's entire November profits. The online sportsbook produced $102.6 million on a state-best $921.2 million manage behind an 11.4% hold.
FanDuel is likewise the only New York sports betting operator to cross $900 million bet in a single month, which it has now done 3 times consisting of consecutive months. The sportsbook fell just shy of its record $925 million manage set last November.
DraftKings ended up second with a manage of $745.4 million and signed up with FanDuel as the only New York operators to take in more than $7 billion in wagers year-to-date. DraftKings likewise used a double-digit hold to take $77.1 million in profits, its second-highest regular monthly total in 2024.
Fanatics shines
Fanatics Sportsbook passed BetMGM and Caesars for the third-best deal with in New York in October and reproduced that position again in November behind a $170.2-million month. BetMGM wasn't far behind with a handle of $167.7 million, while Caesars finished fifth with $158.1 million wagered.
BetMGM's $14.4 million in revenue is a brand-new record for the online operator in New york city. Caesars produced $14.2 million in income, its best month since last December.
BetRivers took seventh place in New York with a manage of $47.6 million, ahead of ESPN BET's $39 million. Bally Bet had its best revenue month ever in New york city, creating $1.2 million from an 11% hold on a $10.6 million deal with.
