Online sports betting in New York was worth almost $5bn from January through March, and generated over $300 million in revenue during that period.
This tally comes after another positive month in the region’s history, March Madness which inevitably attracted sports betting enthusiasts to their websites and apps during the third month of 2022.
The New York State Gaming Commission reported that New York’s online gambling sites had $1.64bn worth of handle (total wagers), for March.
This figure has increased 7% month over month, but is still below the January total of $1.67bn.
New York’s mobile gambling outlets have generated significantly more revenue in terms of revenues than previous months.
However, February’s sport betting activity resulted in operators winning $82.4m. Players bet slightly less but win more. March, however, generated gross revenues of $114.3m.
If you look at the year-to date figures which are basically a Q1 report at present, New York has produced $4.8bn of wagers with $320.8m worth gross revenue.
Flutter Entertainment and FanDuel, owned by FanDuel, have been clear market leaders during early New York City’s legal online gambling market.
Caesars still packs a punch despite its decline in opening-week sales, and DraftKings has a substantial share of this market, although it is actually lower than Caesars.
FanDuel has a strong lead in New York but its share of the market is comparable to DraftKings and Caesars.
BetMGMGM, PointsBet and Rush Street Interactive make up the rest of this market. Wynn Resorts competes for a tiny segment.
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