Recently, a new sports wagering report was published by the New York Gaming Commission, revealing that the state just hit a monumental milestone. In a single month, New York handled over $2 billion in mobile sports bets, setting a new record for the entire country – and much of the world. This marked a massive 14.2% increase month-on-month and a 30.5% growth year-over-year. It was in January 2022 that the state launched mobile sports betting markets, and that launch is paying off in dividends.
It was noted that much of this growth comes from FanDuel’s success in the region. Out of the $2 billion secured, FanDuel was responsible for almost half, contributing a whopping $891 million. That’s a mark-up year-on-year of more than 46.4%. We recently spoke about FanDuel’s mission the become the ultimate operator in the United States, and with numbers like this, it’s easy to see how the brand can maintain that goal.
Behind FanDuel, the likes of DraftKings and Caesars also pulled in huge numbers. For DraftKings, a handle of $652 million was secured (a 22% year-on-year increase) and Caesars saw $193.2 million in wagers pass through its books. BetMGM landed in fourth place in the charts, netting $114.2 million in total bets. It was noted in the reports that BallyBet – a licensed sportsbook in the state – was the only operator to not contribute, owing to a shutdown of wagers amid adjustments and restructuring.
This is the first time in US history that this record has been touched. It’s a monumental milestone as the US sports betting market continues to expand over time, and now, only a handful of states have their doors firmly closed to sports betting practices and operators.
Recently, the owner of the New York Mets, in collaboration with Hard Rock International, unveiled plans for a casino that would be sited at Citi Field. It’s an $8 billion venture that would include a Hard Rock Hotel, a brick-and-mortar casino, and an online sportsbook. It would also include a live music venue, a food hall, and more than twenty acres of recreational space. Big things are happening in New York in the betting space, and everyone wants a piece of that pie.