In October, New York made history by becoming the first state in the US to process over $2.00bn in online sports bets in a single month. This marks a significant milestone for the state’s sports betting industry, as it continues to thrive and set new records.
During the month of October, players in New York wagered a total of $2.01bn online and through mobile platforms. This figure represents the highest amount ever reported for a state in the US that offers legal sports betting to consumers. Additionally, this total is a 30.5% increase from the $1.54bn reported in the same month of last year, and a 14.2% increase from the $1.76bn reported in September of this year.
Furthermore, monthly revenue in New York reached a new high of $166.3m in October. This figure is slightly up from the previous record of $165.5m set in September and 14.1% higher than the $145.7m reported last year. The availability of mobile betting since January 2022 has contributed to the growth of the market.
FanDuel, owned by Flutter Entertainment, maintained its status as the market leader in New York. In October, the company reported $83.1m in revenue from $891.9m in internet-based wagers. DraftKings and Caesars followed, posting $59.3m from $652.3m and $10.9m from $193.2m in sports bets, respectively.
Additionally, the record monthly online figures come on the heels of an announcement from New York Mets owner Steve Cohen and Hard Rock International. They revealed plans for a casino at Citi Field, as part of the $8bn Metropolitan Park complex in Queens, New York City. These plans include a Hard Rock hotel, a casino, a sportsbook site, a live music venue, a food hall, and new park space.
The proposed complex has been in development for three years and has received overwhelming support from the community. Over 89% of those engaged have signed a petition in support of the project, marking a significant step toward the realization of this ambitious venture.