Consumers in New York spent $16.40bn betting on sports online during the first full financial year of regulation in the US state, while revenue for the period reached $1.46bn.
New York opened its legal online sports betting market in January last year and the state’s 2022 financial year ran from April 2022 through to the end of March this year.
During the opening year, Flutter Entertainment-owned FanDuel Group led the market with $756.0m in gross gaming revenue from $6.82bn in total wagers.
DraftKings placed second with revenue of $397.5m and a $5.02bn handle, ahead of Caesars on $152.9m from $2.23bn and BetMGM with $92.9m off $1.28bn in bets.
Next, Rush Street Interactive (RSI) reported $26.1m in revenue from an annual handle of $434.8m, while PointsBet drew revenue of $23.7m from $417.0m in wagers.
Wynn Interactive posted $5.6m in revenue off a $109.2m handle, ahead of Resorts World on $3.5m from $68.5m. Completing the market was BallyBet, which having only launched in New York in July 2022, posted revenue of $646,939 from a $11.0m handle.
Looking to the final month of the financial year and handle stood at $1.79bn, which was up 9.1% from $1.64bn in March of last year and also 21.8% ahead of $1.45bn in February this year.
Gross gaming revenue was up 42.4% year-on-year to $162.8m, with this figure 50.3% higher than in February 2022.
In terms of individual operators, FanDuel led the way with $79.6m in revenue from $740.1m in bets, ahead of long-time rival DraftKings with $52.0m off $589.8m.
Caesars was third with $15.2m in revenue and a $237.5m handle, ahead of BetMGM with $9.6m off $121.2m and RSI with $3.6m from $49.9m in bets.
PointsBet posted revenue of $1.6m from $28.9m in total wagers, while Wynn Interactive’s revenue reached $640,340 from $10.4m in bets and Resorts World $340,239 off $5.1m.
BallyBet rounded off the market with $207,727 in revenue and a $3.0m handle.