The New York sports betting market hit an all-time high in September, with licensed sportsbooks combining to report $143 million in revenue The New York sports betting market hit an all-time high in September, with licensed sportsbooks combining to report $143 million in revenue
Key Takeaways
  • The New York sports betting market hit an all-time high in September, with licensed sportsbooks combining to report $143 million in revenue.
  • This sets a record in the nine-month-old market, in large part because of the beginning of a new NFL season drawing in bettors.
  • FanDuel remains atop the market, reporting $65.7 million in revenue for a market share of 46% — but that only just beats its previous market highs.
  • The real standout remains DraftKings, which generated $44.9 million in revenue, 50% higher than its previous market high.

The New York sports betting market hit an all-time high in September, with licensed sportsbooks combining to report $143 million in revenue, the NY State Gaming Commission reported. This sets a record in the nine-month-old market, mainly because of the beginning of a new NFL season drawing in bettors.

Operators took in $1.25 billion in bets — vigorous growth over August but down from the highs when the market first opened. Fewer bets are being placed than in Q1, but operators are generating much more revenue on each dollar.

FanDuel remains atop the market, reporting $65.7 million in revenue for a market share of 46% — but that only beats its previous market highs in April and May, when it generated $64 million each month. Back then, it enjoyed a market share of over 60%, so its NFL season start is notably quiet.

Like last month, the real standout remains DraftKings, which generated $44.9 million in revenue, 75% higher than its previous market high and three times higher than reported in July. Its market share of 31% is its best since February.

Caesars and BetMGM remain third and fourth in the market, respectively. Caesars remains much smaller than it was in the opening months but enjoyed 50% gains month-over-month in September. BetMGM was flat, suggesting it has failed to capture much NFL demand so far.

Rush Street Interactive stands out among the bottom five operators — it jumped ahead of Points Bet to lead this pack. At an all-time high of $2.7 million in revenue, it has carved out a 2% market share.