Players in New York spent $2.28 billion (£1.88 billion/€2.23 billion) betting on sports online in December, the second highest monthly amount since the state opened its legal market in January 2022.
The December total beat the previous year by 11.1% and is also 0.7% ahead of November’s figure. However, it fell 1.7% short of the record $2.32 billion wagered in New York in October 2024.
Gross gaming revenue reached $150.4 million in December. This is 20.1% less than the same month in 2023 and some 35.1% behind November’s record $150.4 million haul.
This resulted in a state-wide hold of 6.59% for the month, according to data from the New York State Gaming Commission.
The decline in revenue was to be expected, given the number of customer-friendly sports results in late 2024. Several operators have highlighted the impact that has had on their full-year results.
Last week, Flutter warned the “very unfavourable” sports results meant it would fall some $370 million below revenue expectations in the US for FY24.
No stopping the runaway FanDuel train in New York
On the subject of Flutter, its FanDuel brand remains the frontrunner in New York by some distance. For December, it took $70.6 million in revenue from $925.6 million in bets for a 7.63% hold.
DraftKings is still FanDuel’s closest challenger with $46.5 million in revenue off a $731.9 million handle. This resulted in a monthly hold of 6.35%.
Fanatics overcame a drop in the rankings in November to reclaim third place in December. It posted revenue of $9.8 million from $171.6 million in wagers, leaving a 5.71% hold.
BetMGM dropped to fourth spot after reporting $9.6 million off $178.1 million for a 5.39% hold. Caesars completes the top five with revenue of $8.9 million and a $158.3 million handle to post a 5.62% hold.
Mixed month for ESPN Bet
Looking elsewhere in New York, Rush Street Interactive was the “best of the rest” in terms of revenue. Its monthly total for December was $2.9 million from a $46.4 million handle, which resulted in a hold of 6.25%.
ESPN Bet saw revenue fall month-on-month but posted its highest handle since launching in the state in September. Revenue of $1.3 million off $48.7 million in bets left a 2.67% hold.
Bally Bet posted $550,029 in total revenue from a handle of $13.2 million for a 4.15% hold. Finally, Resorts World Bet reported $462,644 in revenue off $6.8 million, resulting in a 6.8% monthly hold.
