In October, the online sports betting stakes in New York State reached $2.64 billion, setting a new historical record, and state revenue also increased to $238.7 million, showing the active market situation. Compared to the same period last year and last month, the betting amount has significantly increased.
Overall Betting and Revenue Growth
In October, the total online sports betting stakes in New York increased by 15.3% month-on-month and 13.3% year-on-year, surpassing the old record of $2.49 billion in January. State revenue reached $238.7 million, an increase of 23.2% from September and 35.4% from the same period last year, with a hold rate of 9.03%.
Main Operators' Performance
FanDuel, as the market leader, broke through $1.01 billion in betting stakes, with revenue of $100.6 million and a market share of 10%, setting a new monthly betting record. DraftKings followed closely, with betting stakes of $938 million and revenue of $82.9 million, holding a market share of 8.84%. Fanatics ranked third, with betting stakes of $205.7 million and revenue of $18.7 million.
Profile of Other Competitors
BetMGM generated revenue of $14.4 million with betting stakes of $187.5 million; Caesars Entertainment had betting stakes of $175.8 million and revenue of $13.2 million. Additionally, operators such as Rush Street Interactive, ESPN Bet, Bally Bet, and Resorts World Bet also released corresponding data, showing a diversified market competition.
