A mobile phone displaying a soccer ball topped with a gold crown and dollar signs. Sports Betting

NY Hits $231.6 Million Record in November Sports Betting Revenue

By Blake Roberts Founder & Editor in Chief Updated: 30 December 2024

Blake Roberts Founder & Editor in Chief

Blake Roberts is the founder of Betting.US and is currently heading the creative team as Editor in Chief. Born and raised in Morgantown, West Virginia, Blake is a great sports fan, with football and basketball being his favorite. He’s our trusted voice for all betting-related matters.

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New York’s mobile sports betting revenue soared to an unprecedented $231.6 million in November. This marked the highest monthly total since the state legalized online sports betting in January 2022. The milestone reflects a substantial 53.5% increase since November last year when revenues reached $150.9 million. The November figure also represents a 31.4% rise from October’s $176.3 million and eclipses the previous record of $211.5 million set in January by 9.5%.

Despite the record-breaking revenue, the total amount wagered, or handled, in November was $2.27 billion, slightly below October’s all-time high of $2.32 billion. Yet, this figure is the second-highest monthly handle until now. The hold, or the percentage of wagers retained by operators as revenue, improved to 10.22% from 7.60% in October.

FanDuel Continues to Lead the Pack

FanDuel further solidified its dominance over rival DraftKings in November. The Flutter-owned brand reported an impressive $102.6 million in revenue from a $921.2 million handle, achieving an 11.14% hold. While trailing FanDuel, DraftKings generated $77.1 million in revenue from $745.4 million in wagers, resulting in a 10.34% hold.

BetMGM climbed the rankings to secure the third spot, with $14.4 million in revenue from a $167.7 million handle, translating to an 8.59% hold. Caesars followed closely with $14.2 million in revenue from a $158.1 million handle, achieving an 8.99% hold.

In his analysis of the New York sports betting market, Robert Fletcher from iGaming Business notes:

Fanatics, the only other operator to see revenue reach double digits in November, slipped from third to fifth. It reported $13.8 million in revenue from a $170.2 million handle, which was higher than both BetMGM and Caesars. Fanatics’ hold for the month was 8.11%.

ESPN Bet and Other Operators

Following what operators described as “customer-friendly outcomes” in the NFL and other sports that significantly impacted sportsbooks’ earnings in October, there was an easy recovery in November. ESPN Bet earned $3.5 million from $39 million in wagers in New York, while Rush Street Interactive led with $4.3 million from a $47.6 million handle, both showing strong performance.

Bally Bet posted $1.2 million in revenue, while Resorts World Bet concluded the list with $567,119. Given the diversity of operators in the market, it won’t be surprising if the Empire State continues to set new highs in 2025.