**New York’s Online Sports Betting Revenue Breaks Records**
Revenue from online sports betting in New York saw a remarkable increase of 53.5% compared to November of the previous year, when it reached $150.9 million. This impressive growth also exceeded October’s figures of $176.3 million by 31.4% and broke the state’s previous high mark of $211.5 million set in January, surpassing it by 9.5%.
Regarding spending, information from the New York State Gaming Commission shows that the monthly handle for November reached $2.27 billion. This amount ranks as the second-largest monthly total since online sports betting was legalized in the state in January 2022.
The handle in November was 7.6% more than it was last year, although it fell short by 2.2% when compared to October’s record $2.32 billion. The hold for November was 10.22%, which represents a significant rise from October’s 7.60%.
**FanDuel Comes Out on Top in New York**
In terms of operators, FanDuel continues to dominate the New York market. The brand, owned by Flutter, widened its lead over long-standing competitor DraftKings in November, reporting over $100 million in revenue. Specifically, FanDuel achieved $102.6 million from a $921.2 million handle, resulting in an 11.14% hold.
DraftKings was approximately $25 million behind FanDuel, with monthly revenue of $77.1 million. It registered a $745.4 million handle, which translated to a 10.34% hold.
Rising to third place in revenue rankings was BetMGM, moving up from fifth. BetMGM reported $14.4 million in revenue from a $167.7 million handle, attaining an 8.59% hold. Caesars followed closely behind, with $14.2 million from a $158.1 million handle, which equated to a monthly hold of 8.99%.
Fanatics, another operator to achieve double-digit revenue in November, slipped from third to fifth. It reported $13.8 million from a $170.2 million handle, outperforming both BetMGM and Caesars. Fanatics’ monthly hold was 8.11%.
**ESPN Bet Sees Record Success**
Rush Street Interactive led the remaining pack, ranking sixth with $4.3 million in revenue from a $47.6 million handle, yielding a 9.03% hold.
ESPN Bet followed, achieving a revenue of $3.5 million, marking its best month since launching in New York in September. With $39 million in sports wagers processed, the monthly hold stood at 8.97%.
Bally Bet took eighth place with $1.2 million in revenue from a $10.6 million handle, boasting a hold of 11.32%, which was the highest among all operators in the state. Finally, Resorts World Bet closed out the month, recording $567,119 in revenue from a $5.4 million handle, and achieving a hold of 10.58%.
