Posted on by

Sports betting revenue in New York falls in September

Sports betting revenue in New York falls in September

Gross gaming revenue (GGR) from mobile sports betting in New York fell year-over-year in September, even as the Empire State reported an increase in stakes.

Total sports betting turnover in New York was $1.80 billion (£1.38 billion/€1.65 billion) in September. That is 2.3% more than last year and 25.0% more than in August of this year.

Data released this week by the New York State Gaming Commission also shows that GGR was $159.4 million in September. The monthly total is down 3.7% from a year ago, but is 27.5% higher than August.

This resulted in a nationwide hold rate of 8.86% for the month.

DraftKings are still the one to beat

If you look at the individual operators, DraftKings remains by far ahead. In September, DraftKings had revenue of $69.7 million on revenue of $788.3 million, representing an 8.84% share.

FanDuel, owned by Flutter, once again took second place, reporting revenue of $52.6 million with a total bet of $511.6 million. The holding value was 10.28%.

Caesars was the next closest challenger at $147.2 million, an 8.83% lead. BetMGM was next with $10.3 million from $143.9 million, resulting in a 7.16% holding share.

Elsewhere in the market, Fanatics earned $8.4 million in revenue from $143.2 million in bets, a 5.87% share. Rush Street Interactive had revenue of $3.5 million on an acquisition of $43.4 million, representing an 8.06% share. Next, Bally Bet posted revenue of $1.1 million versus $10.7 million for a 10.28% share, then Resorts World reported a GGR of $606,436 for a 10.28% share $6.6 million for a 9.19% stake.

A busy start for ESPN Bet in New York

Rounding out the market is ESPN Bet, which launched in New York on September 27th.

In the first four days of operation, the company generated revenue of $103,273 with a total stake of $4.0 million, representing a 2.57% share. Penn Interactive entered the market with ESPN Bet after acquiring the Wynn Interactive license last month. Wynn left the market in July.

During its first full week of operations in New York, daily wagers per ESPN Bet user in the state were 296% higher than any other state where the company operates. The ESPN Bet platform is now available in 19 US jurisdictions.