FanDuel’s New York State Of Mind

Flutter has won the FanDuel as the sports betting handle in the so-called Empire State of New York broke the US$2 billion (£1.6bn) barrier for the very first time.

The sports betting take hit US$2.01 billion in October, the highest handle since the online New York State market launched in January, 2022.

FanDuel was the runaway leader among the eight operators, taking US$891.9 million (£715.19m) in bets; some 44.4 percent of the statewide handle.

DraftKings, with a 32.5 percent market share, came second with a handle of US$652.3 million (£523.06m), followed by Caesars Sportsbook, BetMGM and Rush Street Interactive.

Overall the eight online operators generated some US$166.3 million (£133.35m) in GGR from the October take.

FanDuel–owned by Irish-origin Flutter, which plans to dual list on the New York Stock Exchange in the first quarter of next year–earned US$83.1 million in GGR (£66.63m) last month.

The October online sports betting GGR winners list was completed by PointsBet (US$1.3 million/£1.04m); Resorts World Bet (US$894,039/£716,909) and Wynn Interactive (US$313,362/£251,277).

Since legal online sports betting launched in the Empire State, New York punters have placed US$31.14 billion (£24.97bn) in bets, generating around US$2.7 billion (£2.16bn) in GGR and contributed more than US$1.38 billion (£1.10bn) to the state’s tax pool.

October’s take was over 30 percent higher than that reported in the same month last year and 14.2 percent up on September’s handle.

Great Casino Way

Meantime, the push to make The Big Apple a major casino resorts attraction continues to develop.

New York Mets baseball team owner Steve Cohen has now unveiled plans to build an US$8 billion (£6.41bn) mega casino on 50 acres at Citi Field in the Borough of Queens in partnership with Hard Rock International.

This follows the Caesars Entertainment joint-project with the SL Green Realty Corp., launched last October, to build a Caesars Palace Times Square resort at storied 1515 Broadway.

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