New York Sports Betting Revenue in January Surpasses Previous Record
LISTEN TO THIS ARTICLE:For the second consecutive month, the state of New York set a new online sports betting record with a total of $211.5 million generated by operators.
January’s total was 12.3% bigger than the previous record of $188.3 million that was set the month before. It was also an impressive 41.6% bigger than the $140.4 million of January 2023. Players bet a total of $1.96 billion during January 2024, up 9.5% from 1.79 billion in January 2023 but down 3.9% from December 2023 when $2.04 billion was bet. It was also 6.7% below the record $2.1 billion bet in November 2023.
Related: New York Introduces Program to Aid Self-Exclusion from Gambling
FanDuel Leads New York Operators
FanDuel enjoyed a state record of its own with revenue of $109.2 million in online betting revenue, the most ever reported by an individual operator. Furthermore, it was the first time that a licensed operator in the state posted more than $100 million in one month. During January, FanDuel processed $867.1 million in bets.
DraftKings was some way behind with $71 million in revenue, although this was also its largest monthly total so far. It took $663.9 million in bets online. In third place was Caesars with $13.6 million in revenue from $198 million in bets, while BetMGM came fourth with $10 million in revenue and $118.8 million in bets.
Next was Rush Street Interactive, with revenue of $3.5 million and bets of $50.1 million, followed by PointsBet, with revenue of $2.6 million and a handle of $31.7 million. Following was Resorts World Bet with $752,478 from $6.9 million, Bally Bet with $425689 from $9.9 million and finally, Wynn Interactive with $358,497 from $8.8 million.
Slow Progress on iGaming
In a setback for the expansion of New York's online gambling laws last month, Governor Kathy Hochul omitted iGaming from the state's 2025 executive budget.
This was despite efforts by State Senator Joseph Addabbo, who introduced a revised iGaming bill, Senate Bill S8185. The bill, which aimed to bring online gaming to the Empire State, was distinguished from Addabbo's prior initiatives by the inclusion of an ilottery component.
Despite the absence of iGaming in the budget, Hochul did make provisions to extend certain expiring laws related to pari-mutuel, racing, wagering, and breeding for an additional year. Currently, Senate Bill S8185 is under review by the New York Senate committee.
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