In December, New York’s sports betting industry shattered previous records, marking a significant milestone in its ever-expanding market.
The total revenue for the month surged to an impressive $188.6 million, surpassing the previous record set in October 2023 by a remarkable 13.2%.
This surge was even more notable when compared to November’s figure of $150.9 million, representing a substantial 24.8% increase. In contrast to December 2022, revenue soared by a staggering 32.8%.
The total betting handle for December also saw substantial growth, reaching $2.04 billion, just 3.2% shy of November’s all-time high of $2.11 billion.
Comparing it to the previous year, December’s handle was a striking 25.7% higher than the $1.62 billion recorded in December 2022.
December marked the third consecutive month that New York residents spent more than $2.00 billion on online sports wagering, solidifying the state’s position as a major player in the industry.
In October, New York became the first state to report a monthly online betting handle exceeding $2.00 billion.
FanDuel, owned by Flutter Entertainment, continued to lead the New York market in December, posting $93.6 million in revenue from $834.5 million in bets.
DraftKings secured the second position with $65.2 million in revenue and a $773.4 million handle.
Caesars followed with $15.9 million in revenue, generated from $202.0 million in total bets during December.
Other operators also reported positive results for the month, with BetMGM reporting $8.1 million in revenue and a $126.5 million online handle.
Rush Interactive followed closely with $3.1 million in revenue from $50.7 million in online wagers.
PointsBet reported revenue of $2.6 million from $28.6 million in bets, while Resorts World Interactive generated $401,566 in revenue from the same amount in bets.
Despite these impressive figures, New York’s success was not without its challenges.
Two of the nine licensed operators in the state, BallyBet and Wynn Interactive, reported losses in December.
Wynn Interactive recorded the largest loss of $323,464 from $9.2 million in bets, marking the second consecutive month of online sports betting losses for the operator.
BallyBet reported a loss of $252,433 from a $6.6 million handle, having resumed its online sports betting operations in New York in November.
Additionally, in December, it came to light that FanDuel had lobbied against rules prohibiting sports betting advertising near colleges and universities in the state.
While updated rules were introduced in October, the New York State Gaming Commission firmly upheld the ban on such advertisements, emphasizing its commitment to preventing “predatory” marketing to underage individuals.