Insights into New York Sports Betting Market Growth

Revenue Records in New York Sports Betting Market

New York has set a new milestone in the sports betting industry by becoming the first state to surpass billion in revenue post - PASPA . The New York State Gaming Commission reported that operator winnings for June reached 34.2 million , with the state collecting 8.3 million in taxes from a 9.1 % hold . Despite trailing New Jersey in handle , New York sportsbooks achieved an all - time hold of 8.8 % , with Junes revenue rising by 29.1 % year - over - year.

Market Leader : FanDuel

Leading the market is FanDuel , with 7.1 million in revenue from 71.2 million in handle , holding 11.7 % . DraftKings followed closely with 0.9 million in revenue . Caesars , BetMGM , and Fanatics Sportsbook also secured significant revenues . However , BetRivers had the lowest hold , earning just over .5 million.

The sportsbooks in New York have had a strong first half of 2024 , surpassing 0 billion in handle , with high expectations for the upcoming football season . The revenue figures for June showed a 34 % drop from May , but the handle increased by 14.6 % year - over - year , indicating steady growth in the market.

Seasonal Trends in Sports Betting

As the summer months settle in , the sports world experiences a lull in major events , with the focus shifting to baseball and other smaller sports . This transition period is expected , with operators anticipating a resurgence once football season begins . The year - to - year trend is crucial for operators to gauge progress , with June 2024 showing promising numbers compared to the same period in 2023.

Several states have reported a decrease in betting volumes compared to May , but year - over - year numbers paint a more positive picture . States like Maryland , New York , Iowa , and Tennessee have demonstrated significant growth in their betting handles , indicating a positive trend in the industry . The ongoing soccer tournaments and increased interest in the WNBA have also contributed to the overall growth in sports betting.

In conclusion , while the summer months may be slower for sportsbooks , the year - over - year comparison shows steady progress and sets the stage for potential growth in the upcoming football season . With New York leading the way in revenue records , the sports betting market is poised for continued success in the future.