New York Shatters Records with $2.11 Billion Bet in November
LISTEN TO THIS ARTICLE:Online sports betting in New York reached new heights in November, with punters betting an impressive $2.11 billion.
This figure not only set a new record for the New York mobile betting market but also marked the highest amount ever bet in any US state in a single month. The previous record in New York was $2.01 billion in October, meaning the November bets represented a 5.0% increase. Compared to the $1.55 billion bet in the same month last year, this was a significant 36.1% rise.
The state’s online revenue in November was $150.9 million. This was a fall of 9.3% compared to the record $166.3 million in October, but it was still 1.8% higher than November 2022.
FanDuel Leads the Way
FanDuel, owned by Flutter Entertainment, emerged as the frontrunner in New York's online betting arena. In November, bets totalling $923.4 million were placed with FanDuel, generating a revenue of $69.2 million.
DraftKings followed, with a $723.1 million handle and $54.3 million in revenue. Caesars was next with $205 million in bets are revenue of $11.6 million. BetMGM was some way behind at $120.6 million in bets and $7.9 million in revenue. It was followed by RSI with $76.6 million in bets and $5 million in revenue.
PointsBet saw bets of $27.2 million while Resorts World enjoyed a handle of $6.8 million and revenue of $483,433. BallyBet was also back in action last month and saw $4.3 million in bets and revenue of $234,163.
Wynn Interactive, however, reported a loss, being the only operator to do so in November. It took $11.3 million in bets but saw losses of $312,427 for the month.
Self-Exclusion Scheme Launches in New York
In the same month, the New York State Responsible Play Partnership introduced a new Voluntary Self-Exclusion (VSE) support program. This initiative aims to assist individuals struggling with gambling addiction. The program allows individuals to voluntarily exclude themselves from all legal gambling activities in New York, including online gambling and entering licensed gambling establishments.
The New York Council on Problem Gambling (NYCPG) plays a crucial role in this program, offering guidance on the self-exclusion process and connecting individuals with treatment providers for problem gambling.
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