The State of New York hit the nation-wide document as the whole sports activities wagers positioned via on-line operators totaled to greater than $2 billion in October 2023. Such a deal with additionally introduced $166.3 million in revenues to mark the best market stage because the launch of on-line sports activities betting within the state in January 2022.
$2.01 Billion in Player Bets
New York gamers reportedly wagered a complete of $2.01billion utilizing on-line platforms and cell betting apps to hit the deal with 30.5% greater than in the identical month of 2022. The determine additionally represents a 14.2% greater stage than $1.76 billion wagered within the state in September 2023.
Consequently, the market hit the document month-to-month income of $166.3million to exceed the September 2022 document of 165.5 million and stand for a 14.1% greater stage than October 2022.The exceptional on-line sports activities betting end result was extensively pushed by a number of main operators.
77% Market Share of FanDuel and DraftKings
FanDuel stored the New York market main place with a 50% share in whole revenues generated throughout October and the deal with of $891.9 million representing a 44.5% stakein total bets processed out there within the given interval. DraftKings adopted with a 35.6% income share and the $652.3 million deal with to pay money for a 32.5% share within the whole market deal with.
Individual Operator Contributions
The remaining round 15% of revenues and 23% of on-line bets positioned within the state in October 2023 have been cut up to 6 main operators with their particular person income and deal with contributions standing as follows:
- BetMGM: Revenue $7.2M; Handle $107.6M
- Rush Street Interactive: Revenue $3.3M; Handle $114.2M
- FactorsBet: Revenue $1.3M; Handle $27.6M
- Resorts World Bet: Revenue $894,039; Handle $7.7M
- Wynn Interactive: Revenue $313,363; Handle $12.3M
Mets Owner and Hard Rock Partners for a Casino License
The $2 billion document deal with testifies in regards to the season of the elevated gambling-related actions in New York. Another argument supporting the development comes from the not too long ago made announcement that Mets proprietor Steve Cohen would companion with on line casino large Hard Rock International to bid for the final of the three on line casino licenses obtainable for a on line casino improvement in downtown New York.
$8 Billion Metropolitan Park Casino Development
The billionaire and the top-tier on line casino operator revealed plans to construct an $8 billion Metropolitan Park on line casino and leisure advanced subsequent to the Citi Field Stadium in Queens, New York City.
The resort and on line casino mission consists of separate sports activities betting facility, in addition to a variety of facilities, similar to a music venue, meals corridor, an leisure park, and the related parking and retail services.
Obtaining Support to Bid For the License
Cohen has reportedly hosted a number of group workshops and carried out greater than 20,000 door-to-door conversations with area people members. The mission has thus secured the help of greater than 89% of the pooled group members who signed the petition to help the mission and assist Mets proprietor take a lead within the metropolitan on line casino license race.
Source: “New York sets US-first with $2bn online sports betting handle in October”. iGB. November 13, 2023.
