New York concluded its betting activities last year on a high note, achieving a remarkable $188 million in online sports betting revenue in December.
This value surpassed the previous maximum recorded in October 2023, which was US$166 million.
Therefore, this online betting revenue represents the second highest nationally, behind the $209 million recorded in Ohio during its launch in January 2023.
Growth of sports betting is constant in New York
The US state also maintained its impressive performance by generating more than $2.04 billion across its nine bookmakers for the third month in a row.
Although it was just 3.2% below the record set in November, this remains the highest monthly sports betting number ever reported.
In other words, no other state achieved monthly revenues exceeding US$2 billion. The cumulative betting total for the year 2023 in New York has reached a staggering $19.1 billion, underscoring its unprecedented success in the betting industry.
Therefore, comparing December’s results year-on-year reveals substantial growth.
In December 2022, the value of bets for mobile operators reached US$1.62 billion. Thus, the increase was almost 26% when compared to the previous month’s value of US$2.04 billion.
Mobile sports betting gross gaming revenue (GGR) also experienced a year-over-year increase, demonstrating nearly 33% growth compared to December 2022.
FanDuel takes the lead in revenue
Of all the sportsbooks in the Empire State, FanDuel once again stood out by emerging as a frontrunner, recording the highest revenue.
Following closely, DraftKings secured the second position, surpassing other competitors in the area.
FanDuel generated $93.6 million in revenue from $834.5 million in bets during the reporting period. DraftKings reported revenue of $65.2 million and managed betting revenue of $773.4 million.
While Caesars trailed behind with revenue of US$15.9 million, derived from a total of US$202 million in bets throughout December.
WynnBET and Bally Bet experience back-to-back declines in New York despite the state reporting record revenue.
In December alone, WynnBET disbursed more than US$323,000 in payments, surpassing US$9.2 million in accepted bets.
This year-end drop resulted in WynnBET‘s win rate in 2023 decreasing to 3.5%. In other words, this mark represented a decline of more than three percentage points compared to the previous year.
On the other hand, Bally Bet experienced a negative revenue swing of more than $486,000 compared to November. Despite setting a monthly record of $6.6 million, Bally Bet paid out around $252,000 more than it took in.
