New York Sets Sports Betting Revenue Record In November

Empire State online sports wagering operators bounced back from a less-than-stellar October with a record-setting November.


The New York City Gaming Commission reported that the 9 mobile sportsbooks integrated to produce $231.7 million in revenue, a new nationwide monthly high, on the second-best manage ever of $2.3 billion.


November profits spiked a massive 53.5% from November 2023, and the new record trounced the previous one, set in January, by 9.5%. The strong month came despite gamblers keeping the hold to 7% throughout Thanksgiving week when a record $592.9 million was bet.


Sportsbooks enjoyed increased margins, thanks to less customer-friendly NFL results than the previous month when October revenue of $176.3 million fell 14% month-over-month.


November marks the 4th month year-to-date with income of more than $200 million as New york city operators produced a 10.2% hold, 3 points higher than in November 2023 and 2.6 points much better than in October.


The amount wagered was up 7.4% year-over-year and reached $2 billion for the 3rd consecutive month, connecting a New york city high. Betting dollars reduced 2.4%, regardless of a hectic, popular sports month that included NFL, college football, NBA, college basketball, and NHL.


New annual tax record


Behind the 51% tax rate, sports betting operators put $118.1 million in Empire State's coffers, the most ever.


The year-to-date tax income total has exceeded $965 million from online sports wagering. That's already the most New York, which made more than $860 million last year, has received because betting went reside in Jan. 2022.


The Empire State will quickly eclipse $1 billion in tax earnings in a single year for the first time following December's haul.


FanDuel reaches $900 million once again


FanDuel represented more than 43% of New York's whole November income.