In January, the sports-betting market in New York continued to see impressive growth. The total revenue for the month reached $200.8 million, surpassing the previous record of $188.3 million set in December 2023 by 12.3%. It was also a significant increase of 41.6% compared to January of the previous year, which reported $149.4 million.
When it comes to the total amount wagered, players bet a total of $1.96 billion during January. This marks a 9.5% increase from January 2023, but a slight decrease of 3.9% compared to December 2023. The figure was also 6.7% lower than the record $2.10 billion reported in November of the same year. It is important to note that between October 2023 and December 2023, players had spent more than $2.0 billion on sports betting, but January ended this three-month streak.
FanDuel, owned by Flutter Entertainment, maintained its position as the leading operator in New York. January was especially remarkable for FanDuel, as it achieved its highest monthly revenue of $109.2 million from online betting, setting a new record for a single operator. The company processed a total of $867.1 million in wagers during the month. DraftKings secured the second position with $71.0 million in revenue, also its highest monthly total to date, and $663.8 million in online bets.
After FanDuel and DraftKings, the other licensees in New York fell behind. Caesars ranked third in terms of revenue, generating $13.6 million from $198.0 million in bets. BetMGM followed with $10.0 million in revenue and a handle of $118.8 million. Rush Street Interactive reported $3.5 million in revenue from $50.1 million in bets. PointsBet earned $2.6 million in revenue and had a handle of $31.7 million. Resorts World Bet made $752,478 from $6.9 million, while Bally Bet generated $425,689 from $9.9 million. Wynn Interactive concluded the market with $358,497 in revenue from an $8.8 million total spend.
Unfortunately, while the sports betting market in New York continues to thrive, the much-anticipated arrival of online gaming faced a setback last month. Governor Kathy Hochul did not include online gaming in the 2025 executive budget, despite high hopes. State Senator Joseph Addabbo had filed a revised bill to introduce online gaming (Senate Bill S8185), which included ilottery. However, Hochul did include provisions to extend several pari-mutuel, racing, wagering, and breeding laws, ensuring their continuation for another year.
Senate Bill S8185 is currently at the committee stage in the New York Senate, awaiting further progress.
