• About Us / Contact
  • Responsible Gambling
This site contains commercial content
SportsHandle
  • US Sports Betting
    • Arizona
    • Colorado
    • Illinois
    • Indiana
    • Kentucky
    • Louisiana
    • Maryland
    • Massachusetts
    • Michigan
    • New Jersey
    • New York
    • North Carolina
    • Ohio
    • Pennsylvania
    • Tennessee
    • Virginia
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel Sportsbook Promo Code
    • BetMGM Bonus Code
    • Bet365 Bonus Code
    • Caesars Sportsbook Promo Code
    • ESPN BET Promo Code
    • Fanatics Sportsbook Promo Code
    • BetRivers Promo Code
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News
No Result
View All Result
SportsHandle
  • US Sports Betting
    • Arizona
    • Colorado
    • Illinois
    • Indiana
    • Kentucky
    • Louisiana
    • Maryland
    • Massachusetts
    • Michigan
    • New Jersey
    • New York
    • North Carolina
    • Ohio
    • Pennsylvania
    • Tennessee
    • Virginia
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel Sportsbook Promo Code
    • BetMGM Bonus Code
    • Bet365 Bonus Code
    • Caesars Sportsbook Promo Code
    • ESPN BET Promo Code
    • Fanatics Sportsbook Promo Code
    • BetRivers Promo Code
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News
No Result
View All Result
SportsHandle
No Result
View All Result

FanDuel In Dominant Position In NY Market

The operator has grabbed nearly half the massive state's betting share since the Jan. 8 launch

Mark Saxon by Mark Saxon
November 4, 2022
in Industry
Fanduel logo

Shutterstock

Share on FacebookShare on Twitter

As the end of New York’s first year of legal sports betting approaches, a clear market leader has emerged.

FanDuel, buoyed by a stubbornly high hold rate, has become the dominant player in New York sports betting. The company has grabbed nearly half of the market share in a state that has generated $12.97 billion in handle and $1.06 billion in gross gaming revenue (GGR) since launch, according to the latest report from the state gaming commission.

FanDuel has generated $5.2 billion in handle and $501 million in GGR since opening operations in New York.Β DraftKings has done $3.49 billion in handle and $265 million in GGR.Β Caesars Sportsbook has tallied $2.3 billion in handle and $183 million in GGR. All three companies began taking mobile sports bets on the same day, Jan. 8.

By gaming revenue, FanDuel has claimed 47.2% of the New York legal sports betting market, followed by DraftKings at 25% of market share and Caesars at 17.3%. That leaves just 10.5% of the market to be divided among New York’s six other licensed operators: BetMGM, WynnBET, Bally Bet, PointsBet, BetRivers, and Resorts World.

FanDuel’s dominance in New York is not unique to the state. In June, the majority owner of FanDuel, Flutter Entertainment PLC, announced it had grabbed roughly 51% of the U.S. sports betting market, up from 40% near the end of 2021.

High hold rates becoming endemic

FanDuel’s edge in New York has been partially due to a remarkably high hold rate, or loss rate for gamblers, of 9.6% since launch. DraftKings’ hold rate has been 7.6%, while Caesars’ has been 8% and the other operators have averaged an 8.6% hold rate. The average nationwide hold rate for sportsbooks typically is around 7.2%.

Fall and the return of NFL action have led to a strong overall recovery after a summer lull for sports betting in New York. Gamblers in the Empire State legally bet $345 million on sports over the week ending Oct. 30, just under the previous week’s output of $365 million β€” the highpoint for New York sports betting since March.

Sign Up For The Sports Handle Newsletter!
I also want to receive information and offers about online sportsbooks (eg. odds boost, welcome offers)

In the first five weeks of regulated sports betting in New York, the state’s bettors exceeded $400 million in handle each week. They haven’t yet returned to that frenetic level of betting activity, but the state’s bettors have risked between $300 million and $350 in handle in seven of the past eight weeks.

ShareTweetShare
Mark Saxon

Mark Saxon

Mark has been covering sports for more than 30 years at stops that include The Athletic, ESPN.com, the Orange County Register, and Oakland Tribune. A Major League Baseball beat reporter from 1998 to 2021, Mark also has covered college football and basketball extensively and dabbled in nearly every other major sports league. He has been a lifelong sports gambler. He pays special attention to developments in the sports betting world in New York. Contact Mark on Twitter (@markasaxon) or via email at [email protected].

This site contains commercial content. We may be compensated for the links provided on this page. The content on this page is for informational purposes only.

Related Posts

George Rose/Getty Images
Industry

Sportsbooks Ratchet Up Targeted Advertising At Start Of NFL Season

September 22, 2023
fanduel promo code design with malachi corley of western kentucky
Promotions

FanDuel Kentucky Early Sign-Up Promo Earns $100; Bet $5, Get $200 in Mass., Ohio, New York, All Other States

September 21, 2023
Load More

Top Stories

hard rock guitars hotel lobby

Mobile Sports Betting In Florida At Least A Few Weeks Away, And Probably Much More

September 19, 2023
Getty Images

Will Prohibet Provide One-Stop Shopping For Detection Of Sports Betting Infractions?

September 14, 2023
have-a-game-plan-bet-responsibly-screenshot

Bettors Know All About Responsible Gambling, But Most Don’t Use Tools

September 12, 2023
nfl logo football

Schuetz: Football Is Back β€” Forget Everything You ThinkΒ You Know About Betting

September 6, 2023

State Sports Betting Guides

Sports Betting in Kentucky

Kentucky Sports Betting – Pre-Launch Offers & Best Legal Sportsbook Apps for 2023

by Dukes Wooters
September 22, 2023

Ohio (U.S. state) flag waving against clear blue sky, close up, isolated with clipping path mask alpha channel transparency, perfect for film, news, composition

Ohio Sports Betting – All Online Sportsbooks, Bonus Offers, and News 2023

by Brian Pempus
September 22, 2023

Downtown Detroit at twilight (Shutterstock)

Michigan Sports Betting – Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
September 6, 2023

VA captial

Virginia Sports Betting – Where To Play, Online Sportsbooks And Bonus Offers

by Brett Smiley
September 1, 2023

nj flag

New Jersey Sports Betting — Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
September 6, 2023

Canada Sports Betting Guides

Canada Sports Betting – Best Sportsbook Apps 2023

British Columbia Sports Betting – Legal Update, Available Sportsbooks, and FAQ

Ontario Sports Betting – Legal Status And Where To Play

SportsHandle

  • Analysis
  • Casino
  • Features
  • Horse Racing
  • Industry
  • Legal
  • Legislation
  • Lottery
  • Opinion
  • Podcasts
  • Poker
  • Politics
  • Promotions
  • Regulation
  • Sports
  • Uncategorized

Better Collective

This website is owned and operated by Better Collective USA. Trademarks and copyrights referenced on this website are and shall remain the exclusive property of their respective owners and/or licensors. Please be sure to visit the operator’s website(s) to review their terms & conditions. We advise you to read these carefully as they contain important information. Copyright Β© 2023 USBets.com | Better Collective USA
21 Play Responsibly
Gamble Aware West Virginia
Gambling Problem? Call 1-800-Gambler.
GameSense

Search Sports Handle

No Result
View All Result
  • About Us / Contact
  • Responsible Gambling

No Result
View All Result
  • US Sports Betting
    • Arizona
    • Colorado
    • Illinois
    • Indiana
    • Kentucky
    • Louisiana
    • Maryland
    • Massachusetts
    • Michigan
    • New Jersey
    • New York
    • North Carolina
    • Ohio
    • Pennsylvania
    • Tennessee
    • Virginia
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel Sportsbook Promo Code
    • BetMGM Bonus Code
    • Bet365 Bonus Code
    • Caesars Sportsbook Promo Code
    • ESPN BET Promo Code
    • Fanatics Sportsbook Promo Code
    • BetRivers Promo Code
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News