March 2024 Mobile Betting in NY: FanDuel Leads Amidst Revenue Fluctuations

With a gross gaming revenue (GGR) of $151.7 million from mobile sports betting, the total monthly handle reached an impressive $1.85 billion. This represents a modest 3.4% increase in handle compared to March 2023, although the GGR saw a slight dip of 6.8% from the previous year. Furthermore, the net revenue allocated for educational purposes experienced an 8.1% year-over-year decrease, moving from $83 million to $76.3 million.

Fluctuating Fortunes

The journey since October’s record-breaking $2 billion monthly handle has been marked by varying performance levels in GGR. However, March 2024 stood out with a 15.4% rise in GGR from February’s $131.4 million.

FanDuel emerged as the top contributor to the state’s GGR, bringing in $73.1 million, which accounts for 48.2% of the total GGR. DraftKings followed closely, contributing $48.8 million or 32.2% of the total GGR.

Notably, Fanatics Sportsbook, a newer player in the New York market, outperformed established operators like Wynn, Bally’s, and Rush Street Interactive in GGR, showcasing its rapid growth in various states including Arizona, Kansas, and Connecticut.

Reflecting on the Market Dynamics

FanDuel’s dominance was further highlighted by its staggering $781.2 million handle, constituting 42.2% of the state’s total handle. DraftKings secured the second position with a handle of $612.2 million, representing 33.1% of the total.

The competition among operators remained fierce, with Bally’s and Resorts World Bet recording handles of $8.3 million and $8.4 million, respectively, and Wynn posting the lowest state handle of $4.2 million.