The New York State Gaming Commission reported $149.2 million in overall sports wagering revenue for November, the third consecutive month the Empire State has set an all-time record in monthly operator revenue.
The mobile revenue of $148.2 million among the state’s nine operators was enough to top October’s short-lived standard of $146.8 million, but the state’s four retail books kicked in another $1 million to put more distance between the two totals. New York has the top five monthly revenue totals in the post-PASPA era and eight of the top 10 since launching mobile betting in January.
Handle was 0.6% higher compared to October at $1.56 billion, the third-highest single-month total all-time nationally. New York also became the fifth state to surpass $15 billion in all-time handle, joining New Jersey, Nevada, Pennsylvania, and Illinois in that select group. The hold for both mobile and overall wagering was 9.5%, while retail was 9.9%.
State taxes for the month totaled $75.7 million, also an all-time monthly national record, thanks to the bulk of the revenue being taxed at 51% from mobile operators. New York’s coffers have received $619.2 million in the calendar year, easily surpassing the once-derided estimate of $500 million annually promised by then-Gov. Andrew Cuomo as he made the push to launch mobile betting.
FanDuel still primary handle and revenue driver
FanDuel again made easy separation from its fellow mobile sportsbooks as the top generator of handle and revenue in November. The $78.3 million was an all-time monthly high in New York for mobile operators and accounted for nearly 53% of all mobile revenue. It was the seventh time FanDuel has accounted for more than half of New York’s mobile revenue, and the $39.9 million tax bill for the month left it just $3.2 million shy of paying $300 million in taxes this year.
The $646.2 million handle was FanDuel’s highest since its record $673.1 million in March and was also the first time it claimed more than 40% of handle market share since August. DraftKings, meanwhile, saw its market share for handle slip from an all-time high of 34.6% to 32% in November, but did cross $4 billion in total handle with $498.7 million worth of accepted wagers last month.
DraftKings did report a slight improvement in revenue to $42 million, its third straight month over $40 million after failing to clear $30 million in any of the first eight months of action. Caesars Sportsbook had its fifth consecutive month with a 10% or better win rate, though it fell $142 short of matching its revenue total of more than $14.9 million from October. Caesars did top $200 million in monthly handle for the first time since April.
BetMGM, the last of the “Big 4” among New York operators, narrowly extended its streak of months with $8 million to four, shaking off its lowest hold — 5% — since April on $111.4 million in wagers. BetMGM has not had a 6% or better hold since August but did top $70 million in all-time revenue.
Among the other five mobile books, PointsBet cleared $25 million in all-time revenue with a slight month-over-month falloff in November to $2.1 million. BetRivers outpaced the Aussie-based book in revenue at $2.2 million for November to get over $20 million all-time. WynnBET had its best month in terms of handle at $11.5 million, but it barely came out ahead for the month with just $90,899 in winnings from a 0.8% hold.
Another good month for B&M books
The November numbers on the retail side marked the fourth straight month of $1 million revenue after eight consecutive months of failing to hit that benchmark. Rivers Casino provided the bulk of the winnings and handle, claiming $560,000 in revenue from $5.9 million handle for a 9.5% hold.
Del Lago Resort had a fifth consecutive month with a double-digit hold, landing at 13.7% to collect $322,000 in revenue from $2.3 million in wagers. The overall retail hold of 9.9% marked the first time since June it failed to reach double figures.
