April 11, 2024
The numbers are in for New York sports betting in 2023, and they do not disappoint. Players in the state wagered more than $19.6 billion on sporting events last year, which translated to almost $1.8 billion in revenue. During the 12-month period ending on March 31st, total wagers in the Empire State surged by almost 20%, reaching $16.4 billion, and surpassing the figures from the previous fiscal year.
This milestone also marks the highest annual expenditure for online sports betting recorded in any state regulating the activity in America. Additionally, the gross gaming revenue experienced a remarkable year-on-year increase of 20.6%, setting yet another record in the US market. FanDuel maintained its dominant position with New York sports betting, replicating its success from the inaugural year. Throughout the fiscal year, FanDuel processed an impressive $8.10 billion in online wagers, generating revenue amounting to $845.8 million.
DraftKings retained its second-place position, reporting revenue of $619.6 million from $7.02 billion in bets. Meanwhile, Caesars secured the third spot, with revenue totaling $140.4 million and handling bets worth $2.03 billion. BetMGM emerged as the only other operator to surpass the $1.00 billion mark in New York sports betting wagers processed during the year, boasting a handle of $1.26 billion. The brand posted a total gaming revenue of $86.1 million.
As the rest of the rest of the pack? Well, Resorts World brought in nearly $715,000 from $8.4 million in bets, while Wynn was only able to generate less than $300,000 from $4.2 million in wagers. BallyBet was dead last, but not far behind Wynn, pulling in a meager $267,000 from just over $8.3 million in action.
