New York sportsbooks enjoyed a strong end to 2024. The nine online operators in the Empire State reached $2 billion in wagers for the fourth consecutive month. This was also the first time since January 2022 that they could hit at least $2 billion. December was filled with NFL, college football, NBA, college basketball, and the NHL. Altogether, they helped NY sportsbooks produce a handle of $2.28 billion.
The New York Gaming Commission reported that December 2024 was the second-highest month ever. They were only $40 million away from their record handle set in October. In December 2024, wagers increased 11.8% year over year and less than 1% month over month. New York operators had a 6.6% hold to end the year, lower than their hold in October. Revenue hit $150.4 million in December, the state’s lowest ever recorded with a handle of at least $2 billion. New York operators hauled in $76.9 million from a 51% tax rate.
What NY operators had the most success in 2024?
In the United States, the New York sports betting market continues to be one of the most lucrative. Last year, online sports betting in New York generated $22.7 billion in wagers. Nine sportsbooks hauled in just over $2 billion in revenue. Their handle and revenue are the most produced in any year for NY operators. To finish the year, NY ended with an 8.9% hold, their highest win rate in state history. Over the last three years, online sports betting in New York has generated $2.6 billion in tax revenue.
The NY sports betting market continues to look like a duopoly with FanDuel and DraftKings dominating market share.
With $925.6 million wagered in December, FanDuel set a new record for a monthly handle. That beat out the previous high of $925.4 million in November 2023. Additionally, the handle rose nearly $90 million year-over-year. FanDuel had a 7.6% hold in December and collected $70.6 million in revenue. That was the highest of all NY operators in December. However, it was $30 million less than their haul in November.
DraftKings’ $731.9 million handle was the second largest among all NY operators in December. Along with FanDuel, DraftKings was the only other operator to have at least $10 million in revenue. That was enough for $46.5 million in December. Fanatics sportsbooks’ $9.8 million in revenue was $200,000 more than BetMGM last month. Caesars rounded out the top five in New York with $8.7 million in revenue from a handle of $158.3 million. ESPN BET generated $48.7 million in wagers and BetRivers was not far behind at $46.4 million. All operators across the state made more than $61 million during the week of Christmas.