Revenue from online sports betting in New York fell 5.3% year-on-year in September despite the Empire State reporting an increase in player spending.
Gross gaming revenue from betting reached $193.8 million in September, according to the New York State Gaming Commission. This was short of the $204.7 million in the same month last year but 8.8% more than August this year.
The decline came despite consumer spending on sports betting increasing during the month. A total of $2.29 billion was wagered in September, up 10.6% from last year and 12.3% ahead of August.
This resulted in a statewide hold of 8.47% for the month.
FanDuel draws 40% of New York revenue
Turning to operators, Flutter’s FanDuel remained the market leader in September. It took $77.6 million from a $790.4 million handle, leaving a total hold of 9.82%. FanDuel alone accounted for 40% of all betting revenue during the month.
DraftKings was again the next closest challenger, posting $66.7 million in revenue, with a higher handle of $870.6 million. This, however, meant a lower hold than longtime rival FanDuel at 7.66%
Fanatics retained third spot with $20.5 million off $219 million for a 9.36% hold.
BetMGM and Caesars neck-and-neck on revenue
BetMGM and Caesars tied for fourth place in revenue terms, but the former sneaked ahead when it came to hold thanks to a marginally higher handle.
Revenue at BetMGM hit $10.9 million from $149.8 million in wagers, meaning a hold of 7.28%. Just behind was Caesars with $10.9 million off $152 million for a 7.17% hold.
Elsewhere, Rush Street Interactive took $3.6 million from $45.9 million in bets for a hold of 7.84%. ESPN Bet followed with $2.8 million from $47.1 million for a 5.94% monthly hold.
Bally Bet came next with $788,535 off a $13 million handle, meaning a 6.07% hold. Resorts World Bet rounded off the New York market with $229,357 from $2.8 million, resulting in a hold of 8.33%.
Players spent a total of $2.29 billion betting on sports in New York in September.