Rival operators FanDuel and DraftKings posted almost identical online sports betting revenue in New York during July, while the state reported its lowest monthly handle in 11 months.
Players spent $962.1m (£758.6m/€875.7m) betting on sports online in July. This was the first time New York’s monthly handle has fallen below $1.00bn since August last year.
Gross gaming revenue (GGR) from online betting during the month reached $105.1m. This was up 43.4% from $73.3m last year and 1.3% ahead of $103.8m in June.
FanDuel versus DraftKings – the battle for New York crown
In revenue terms, there was very little between FanDuel and DraftKings. FanDuel has been the frontrunner in New York for some time but DraftKings has steadily closed the gap over recent months.
Flutter Entertainment-owned FanDuel remained marginally ahead with $40.9m in revenue for July. The operator also took $384.6m in online sports bets.
In comparison, DraftKings’ revenue amounted to $41.08m, just a mere $8,655 behind long-time rival FanDuel. In terms of handle, DraftKings processed $340.4m in wagers, still some way short of FanDuel’s total.
Best of the rest
Caesars headed the chasing pack with $10.6m in revenue from a $111.1m handle. BetMGM was next with revenue of $6.8m off $65.1m in total wagers.
Rush Street Interactive posted $3.2m in revenue from a $35.7m handle, while PointsBet hit $1.3m in revenue off $14.4m in bets. PointsBet is due to rebrand under the Fanatics brand after the latter agreed to purchase its US business for $225.0m. However, any such move will be subject to regulatory approval in New York and other states where PointsBet is currently active.
As for other operators in New York, Wynn Interactive posted $517,872 in total revenue from $6.7m in online wagers. This was narrowly ahead of Resorts World, which reported revenue of $496,793 and a $4.2m handle.
BallyBet pauses in New York amid sports betting upgrade
The state’s other licensed online sports betting operator, BallyBet, paused activities in New York prior to July.
In May, Bally’s Corporation announced that it was to outsource its tech stack, in reference to online and land-based sports betting.
Sports betting supplier Kambi and PAM platform solution provider White Hat Gaming have picked up the responsibility. The pair will supply technological capabilities for wagering and support the relaunch of the Bally Bet online betting platform.
As such, Bally halted all online betting activity in New York on 30 June, meaning it was not able to process wagers in July. The operator has not yet said when it expects to relaunch in the state.