New York Shatters Online Sports Betting Revenue Record in December
LISTEN TO THIS ARTICLE:In December, New York set a new online sports betting revenue, reaching $188.3 million. This new record surpasses the previous high of $166.3 million, set in October 2023, by 13.2%. The revenue for December was notably higher than November’s $150.9 million and showed a substantial increase of 32.8% from December 2022’s $141.8 million.
Despite this revenue high, the total betting handle for December was $2.04 billion, marginally lower than November’s record-setting $2.11 billion. However, it still marked a 25.7% increase from December of the previous year. December was the third month in a row that saw New York’s online sports wagering exceeded $2 billion, a run that began in October when the state became the first to surpass the $2 billion mark in monthly online betting.
Market Leaders in New York’s Online Betting Scene
Flutter Entertainment’s FanDuel continued its dominance in the New York market, further widening its lead over its closest competitor, DraftKings. In December, FanDuel generated $93.6 million in revenue from $834.5 million in bets. DraftKings, meanwhile, secured second place with a revenue of $65.2 million and a handle of $773.4 million.
Caesars was another notable player, earning $15.9 million from bets totaling $202 million. BetMGM also reported strong performance, with $8.1 million in revenue and a $126.5 million handle. Others in the market included Rush Interactive, with $3.1 million in revenue, PointsBet with $2.6 million, and Resorts World Interactive, which generated $401,566.
Wynn Interactive and BallyBet Suffer Losses
Despite these impressive revenue figures, not all operators experienced success. Wynn Interactive and Bally Bet reported losses in December. Wynn Interactive faced a more significant loss of $323,464 from $9.2 million in bets, marking its second consecutive month of losses. Bally Bet also recorded a loss, amounting to $252,433 from a $6.6 million handle.
More Finance News
RELATED TOPICS: Finance
Latest News
Most Read
Must Read
Interviews
When Helping Others Is a Life-Long Mission - An Interview with Gordon Moody CEO, Monica Shafaq
Dec 17, 2024
Interviews
Review this New Post
Leave a Comment
User Comments
Comments for New York Shatters Online Sports Betting Revenue Record in December