A month after becoming the first U.S. market to record a $2 billion legal sports betting handle, New York did it again.
The Empire State’s nine online sportsbooks combined to take in $2.1 billion in wagers in November, according to the New York Gaming Commission report, up 5% from October and the highest handle ever recorded.
With the NFL, college football, NHL, and NBA providing plenty of betting options, big numbers were expected in November. Still, the staggering handle is 31% higher than the same month in 2022, showing the growing popularity of sports wagering in the Empire State.
November gross revenue of $150.9 million took a 9% month-over-month dip, though, and rose just 1.8% year-over-year as operators saw their hold drop from 8.3% in October to 7.2% the following month.
The Empire State filled its coffers with $77 million in tax revenue.
New York sports betting crossed several milestones for the fiscal year that runs from April through March. Operators went over $1 billion in gross revenue on a handle of more than $12 billion while the Empire State topped $550 million in tax revenue.
FanDuel hits big
FanDuel was a huge reason the monthly handle topped $2 billion again. The online sports betting giant accounted for 44%, or $925.4 million, of New York’s overall handle. DraftKings made up 35% of the total handle with $732.1 million in November.
Caesars was the only other operator with a handle of more than $200 million, while BetMGM went over $120 million and saw a 12% month-over-month rise in handle.
This was the first month since June that Bally Bet was active again. The sportsbook accounted for $4.3 million in handle.
WynnBet was the only online operator to take a loss for the month.
Weekly revenue jumps 50%
The latest weekly handle for the period ending Dec. 3 dropped nearly 6% to $486.7 million, halting a streak of consecutive weeks of more than $500 million. However, gross revenue jumped 50% to $32.4 million for operators, who enjoyed a 6.7% hold for the week.
FanDuel’s $194.7 million edged DraftKings by a little more than a million dollars for the top weekly handle in New York.
