The latest revenue report from the New York Gaming Commission for November has revealed that online sports betting operators generated record revenues for the third month in a row.
The Individual reports for each mobile sports betting operator show that the industry generated combined gross gaming revenue (GGR) of $148.2 million, an increase of 1.7% on the $145.7 million monthly record set in October.
Sportsbooks reported accepting $1.56 billion throughout the month of November, a slight increase of 0.7% on the $1.54 billion reported in the previous month. This is the highest amount wagered in a single month since March 2022 when sports fans wagered $1.64 billion.
FanDuel remains the New York sports betting market leader with revenues of $78.3 million from $646.2 million in wagers. This was followed by DraftKings which accepted $498.7 million in wagers generating $42.3 million in revenue and Caesars which accepted $200.3 million in wagers to post GGR of $14.9 million. Meanwhile, BetMGM was the fourth most successful mobile sportsbook in NY as the company reported GGR of $8 million from $111.4 million in bets.
Resorts World reported $100,021 in GGR from just $5.4 million in wagers, while Wynn Interactive followed with $90,899 from $11.5 million in wagers. BallyBet came in last with just $39,718 GGR from $677,545 in wagers.
The latest reports of a record month follow a recently introduced bill — SB 9605 — which is set to restrict “predatory sportsbook bonuses”.
The bill states that the New York State Gaming Commission must
“promulgate rules and regulations regarding predatory sportsbook bonuses in mobile sports betting, including but not limited to, deposit, matching, risk-free betting, free money, free bets, site credits and profit boosts”.
The introduction of the bill followed several articles published in the New York Times which discussed industry lobbying and marketing tactics.
The bill has now been referred to the Senate Rules Committee.
Ciaran has been working within the Gambling Industry as a deep analyst since 2019. His deep knowledge and understanding of all the gambling regulations, and processes makes him a true asset, and an always valuable point of view for Gambling Industry News, allowing us to cover every topics from a brand new perspective.