In December, New York set a new online sports betting revenue record of $188.3m, surpassing the previous record of $166.3m set in October 2023. This is a 13.2% increase from the previous record. It is also 24.8% higher than November’s revenue of $150.9m and 32.8% higher than December 2022’s revenue of $141.8m.
The total handle for December was $2.04bn, falling just short of November’s record of $2.11bn. However, it was a 25.7% increase from the $1.62bn bet in December of the previous year. This marked the third consecutive month that New York players spent more than $2.00bn on online sports wagering.
FanDuel, owned by Flutter Entertainment, continued to lead in New York, with $93.6m in revenue off $834.5m in bets. DraftKings followed with $65.2m in revenue and a $773.4m handle, and Caesars reported revenue of $15.9m off $202.0m in total bets during December. Other operators, such as BetMGM, Rush Interactive, PointsBet, and Resorts World Interactive, also reported their revenues and handles for the month.
In December, two out of the nine licensed operators in the state reported a loss. Wynn Interactive reported a loss of $323,464 from $9.2m in bets, while Bally Bet posted a loss of $252,433 from a $6.6m handle. However, Bally Bet had only resumed its online sports betting operations in New York in November after pausing activities back in July.
Additionally, it was revealed in December that FanDuel lobbied against rules that prohibit advertising sports betting near colleges and universities in the state. Although updated rules were introduced in October after considering opinions from various licensees, FanDuel opposed a ban on adverts in the “area of a college or university campus.” The New York State Gaming Commission disagreed, stating that such ads near educational establishments could be seen as “objectionable marketing efforts” and could lead to “predatory” marketing to underage persons.
Overall, despite some operators reporting losses and lobbying against advertising rules near colleges, New York saw a record-breaking month in online sports betting revenue, signaling continued growth in the industry.