New York sportsbooks rebound in November with record $231m in GGR
Revenue up more than 30% from October thanks to strong 10.2% statewide hold
New York sportsbooks bounced back from a rough October with a banner November headlined by a record $231.6m in gross gaming revenue (GGR), according to new data from the New York State Gaming Commission (NYSGC).
The revenue figure represents a 31.3% increase from $176.3m in October – when bettors cashed in across the board throughout the regulated US – and a 53.5% year-over-year (YOY) uptick from $150.9m during the same period of 2023.
Handle for the month amounted to $2.27bn, giving way to a strong statewide hold of 10.2% that was more than 2.5 points higher than the 7.6% win rate from October, when handle was slightly higher at $2.3bn.
As a result, operators sent $118.1m in tax payments back to the state to benefit education – the most ever for a single month, eclipsing the previous record of $107.9m generated in January.
Turning to operators, FanDuel dominated the landscape with $921.2m in handle and $102.6m in revenue – good for an 11.1% hold – with the GGR figure equating to just over 44% of the market.
DraftKings continued to hold the second spot in the market after generating just over $77m in GGR on $745.4m in handle, equating to a 10.3% hold.
Fanatics and BetMGM, meanwhile, shared the final podium position, with Fanatics driving more overall wagering volume ($170.2m compared to BetMGM’s $167.7m) but BetMGM taking the honors in the more important revenue battle ($14.4m) compared with Fanatics’ $13.8m.
Caesars was neck and neck with $158.1m in handle and $14.2m in revenue.
With November’s record haul of nearly $2.3bn in handle, New York sportsbooks have now generated at least $2bn in cumulative handle in three straight months and six overall.