New York sportsbooks generate over $22bn in 2024 handle
Empire State operators cap year with $2.3bn in December wagering volume
New York sportsbooks capped 2024 by generating $2.3bn in December handle, according to new data from the New York State Gaming Commission (NYSGC).
December marked the fourth consecutive month of at least $2bn in wagering volume and the seventh overall for the biggest sports betting market in the US, which ended the year at $22.7bn in cumulative handle and just over $2bn in gross revenue. That equated to an annual market-wide hold of 8.9%.
The final month of the year wasn’t kind to Empire State operators, however, as they took in just $150.4m in gross revenue, lending to a 6.6% hold that ranked as the lowest of 2024.
The revenue figure, which represented a 20.1% year-over-year (YOY) drop from the same period of 2023, was the lowest all time for a $2bn-handle month.
As a result, only $76.9m was sent back to the state in tax payments – in contrast to $118.1m in November – to benefit New York educational initiatives.
Looking at the December operator landscape, FanDuel led the way with $925.6m in handle and $70.6m in revenue for a 7.6% hold that was higher than the statewide average but well below the double-digit win rates to which it’s become accustomed.
FanDuel’s parent company Flutter had already foreshadowed these results in a December 30 update in which it detailed “significant adverse results” in recent NFL wagering across the US.
DraftKings fared even worse than its primary US competitor, generating just $46.5m in revenue on $731.9m in handle, which equated to a 6.4% hold.
Fanatics and BetMGM once again jostled for the third spot on the podium, with Fanatics ($171.6m handle, $9.8m revenue) outearning BetMGM ($178.1m handle, $9.6m revenue) despite accepting fewer wagers.
Although it was a rough way to end the year for operators, New York still managed to push past $1bn in total 2024 tax revenue, making it the first state to achieve that distinction in a calendar year.