Two Billion Dollar Baby, New York, New York, So Good You Gotta Say It Twice

Powered by “The City That Never Sleeps”, New York State has smashed the US$2 billion sports betting handle for the second month in a row.

Online punters wagered US$2.11 billion (£1.67bn) on sports in November, up five percent on the previous month, October, and marking an all-time monthly record of any state in the union.

Digital sports betting revenue for the month was US$150.9 million (£119.97m), 9.3 percent lower than October but 1.8 percent up, year-on-year.

FanDuel, owned by Irish-origin Flutter Entertainment, which is now set to dual-list on the New York Stock Exchange this coming January, was way out in the lead, with revenue of US$69.2 million (£55.01m) on a handle of US$923.4 million (£734.15m); ahead of DraftKings, who earned US$54.3 million (£43.17m) on bets totalling US$723.1 million (£574.9m) and Caesars Sportsbook running a distant third, harvesting US$11.6 million (£9.22m) in revenue from placements of US$205 million (£162.98).

The Empire State has certainly lived up to its billing as mobile sports betting’s last great frontier since Albany voted to legalise the activity in January 2022.

Bridging Bans

It seems almost incredible that until then one ruse–among many semi-clandestine, off-state moves–to beat the New York betting ban was for bookies to cycle over to the New Jersey side of the George Washington Bridge across the Hudson River to lay wagers within inches of tarmac where online sports betting was legal.

Elsewhere in New York, population 19 million and the third richest state in America, behind California and Texas, in-the-spotlight BetMGM came fourth in the online sports betting stakes with a take of US$120.6 million and revenue of US$7.9 million.

The MGM Resorts International-Entain joint-venture was trailed by Rush Street Interactive’s US$5 million November walk-away; PointsBet’s US$2.4 million; the US$483,433 revenue of Resorts World Bet and the US$234,163 of BallyBet, venturing back into the market for the first time since July.

Woeful Wynn Interactive, who are working towards abandoning the hyper-competitive digital sportsbook market–and seek solace in desert adventures–posted a loss of US$312,427.

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