FanDuel Continue to Dominate New York Betting Market

SBNY » FanDuel Continue to Dominate New York Betting Market

FanDuel is one of the founding fathers of sports betting in New York: the brand was licensed amongst a number of other operators back in January when sports betting became legal and begin operations shortly thereafter.

Ever since, they have risen to prominence in the Empire State, proving month on month to be the best operator in terms of revenue generated compared to the other sportsbooks. Despite all-time weekly lows recorded for bets handled, FanDuel continues to dominate the market.

In fact, they dominated nearly half of the market in the week leading up to June 26th, in which bets handled hit an all-time low of $218.9 million. With $101.5 million, that’s a rather large 46.37% of the market, even though their bets handled were down 18.7% from the week previous. They’ve now been at the top for 22 weeks straight, only dropping below in the week ending January 23rd, when Caesars Sportsbook overtook by a small margin.

Whilst they may have handled a rather large amount, though, FanDuel only managed to generate $7.8 million in gross gaming revenue as they feel the general effect of the seasonal slowdown.

Fanduel all sports, with athletes

How Other Sportsbooks Compare

The second most popular sportsbook in New York is FanDuel’s rival in the fantasy sports market: DraftKings. They handled $52.9 million in mobile bets, which generated just $3.7 million in gross gaming revenue. That is almost half of what FanDuel managed in the same period.

Third place saw a return for Caesars after having been briefly overtaken by BetMGM, who presently rank in fourth. Caesar managed to end the week with $33.1 million in bets handled, leading to $2.2 million in gross gaming revenue, which will be a welcome sight after losing just short of $1 million dollars the week before.

As mentioned, in fourth place was BetMGM Sportsbook, which has managed to handle $19.5 million in bets, generating $1.2 million in revenue. It’s almost surprising how well BetMGM is still doing considering their recent announcement that they were cutting back on marketing in protest to the industry-high tax rate that BetMGM CFO Gary Deutsch has been campaigning against for the last few months. This is now their lowest ever handle for any seven-day period since launching.

The remaining New York sportsbooks bets handled are as follows:

  • BetRivers – $5,285,712
  • PointsBet – $3,415,137
  • WynnBET – $1,589,467
  • Resorts World – $1,526,765

And their gross gaming revenue was:

  • PointsBet – $414,115
  • BetRivers – $323,274
  • WynnBET – $44,548
  • Resorts World – $10,817

The surprising factor about the two lots of figures above is that despite handling nearly $2 million less in bets, PointsBet made $90,841 more.

Blond women in white present tables of statistic

What Are FanDuel Doing Differently?

There are a whole host of reasons as to why FanDuel could be doing as well as it is, one of them being its PR team in charge of marketing. Successful advertising can only carry you so far, so what else is it offering that seems to be attracting the majority of New York? Well, they offer one of the largest selections of sports to bet on in New York, more than most of the other sportsbooks operating in the state. The brand also has a variety of ongoing

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