King of New York: FanDuel Takes Record Bite of Big Apple Betting Revenue
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Out of eight active New York sports betting apps, FanDuel stands alone.
Last week, it owned 89.1% of all revenue on the market, according to the New York State Gaming Commission. The $12 million in gross gaming revenue it made from June 13 to June 19 was 12 times what the next closest operator — DraftKings — recorded.
FanDuel Owns Nearly Half the State
FanDuel now boasts roughly 45% of revenue in New York since it launched online betting Jan. 8 and became the largest legal state.
Its June revenue surge comes at a time in the year when betting is generally down across the country. With the Colorado Avalanche closing out Game 6 of the Stanley Cup Final, Major League Baseball is the only major American sport until the NFL’s preseason starts August 8.
New York’s overall betting handle for the week — $265,639,740 — was a slight rebound from the previous week when it hit its lowest level ever.
Taxes and operator revenue were down overall, as most sportsbooks struggled to win bets.
PointsBet led the way with 13.5% of hold, followed by FanDuel at 9.9% and BetRivers at 5.4%. DraftKings and BetMGM were the only other sportsbooks that didn’t go negative for the week.
Historically, New York sportsbooks have held 7.3% of handle. BallyBet, the 9th and final operator licensed, has yet to announce a formal launch date.
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