Record-breaking $231.6M Online Sports Betting Revenue in New York for November

New York State has set a new record for online sports betting revenue in November, generating $231.6 million, marking a significant 53.5% increase compared to the same month last year. The monthly revenue surpassed the state’s previous record of $211.5 million, set in January, by 9.5%.

Increased Revenue Amid Slight Dip in Handle

The New York State Gaming Commission reported a total handle of $2.27 billion for November, the second-highest monthly amount since legal online betting launched in January 2022. While this represented a 7.6% year-on-year increase, it was 2.2% lower than October’s record handle of $2.32 billion. The November hold rate improved to 10.22%, compared to 7.60% in October.

FanDuel Continues to Dominate

FanDuel further solidified its position as New York’s leading operator in November, reporting $102.6 million in revenue from a $921.2 million handle, resulting in an 11.14% hold. This placed the operator well ahead of its closest competitor, DraftKings, which posted $77.1 million in revenue from a $745.4 million handle and a 10.34% hold.

BetMGM climbed to third place with $14.4 million in revenue off a $167.7 million handle (8.59% hold), surpassing Caesars, which ranked fourth with $14.2 million in revenue (8.99% hold). Fanatics rounded out the top five, reporting $13.8 million in revenue from a $170.2 million handle and an 8.11% hold.

Growth Among Smaller Operators

ESPN Bet experienced its best month to date since entering the market in September, generating $3.5 million in revenue from $39.0 million in wagers (8.97% hold). Bally Bet led the state in hold percentage at 11.32%, producing $1.2 million in revenue from a $10.6 million handle. Resorts World Bet rounded out the rankings with $567,119 in revenue and a hold rate of 10.58%.

New York’s record-breaking revenue highlights the continued growth and competitiveness of the state’s online sports betting market. While FanDuel maintains a strong lead, shifts among smaller operators signal an evolving landscape as the market matures.