Wagering exceeds £1.5 bn for March in New York
Mobile sports wagering for the state of New York hit a total of $1.52 billion for March – slightly down on its first month ($1.54 billion) since going live in February.
However, with the NFL season ending in February – culminating in a thrilling Super Bowl, the slight decrease perhaps helps to explain this.
March saw Genting Group-owned Resorts World, with its Resorts WorldBET app launch in the state, providing even more choice to customers.
FanDuel retains number one spot in NY
Boasting a sports betting handle of $619.7m as well as $59.8 million in revenue for the month, Flutter Entertainment-owned FanDuel comfortably secured the top spot for sportsbooks, while rival DraftKings came in at a distant second, taking a handle of $388.9m in addition to $20.2m in revenue.
Caesars Entertainment also continued its strong track record in the US market, with a $256.4m handle and $19.7m in revenue, while BetMGM sported a handle of $158.7m, recording $4.4m in revenue.
It is clear though that FanDuel has cornered the market in the state over the last two months – a combination of strong marketing and great acquisition offers being responsible for helping the company to consolidate its position.
A total of $4.68 billion has been wagered in the state since it launched mobile sports betting, indicating that this could become one of the most successful states in the union in terms of figures.
Great start for the NY market – can this continue?
What appears to be the case is that residents in the state eagerly anticipated the launch of mobile sports betting – this is certainly reflected in the figures and, despite the ending of the NFL season, which across the US, is a hugely popular market, this has not really affected the wider market.
There is definitely a demand for sports betting in New York and it will be interesting to see whether the state attracts even more brands over the coming months, especially from the UK.
With a significant number of major sports franchises in the state, across all of the main sports, this no doubt acts as a draw for bettors, with many of them likely being fans of most of them.
Prior to launch, the market was predicted by analysts to be one of the largest in the US, though, should California become approved, with a November vote pending, it could well have a say in this, being the most populous state in the country.