Market Monitor: New York Sports Betting August 2023 Market Monitor: New York Sports Betting August 2023
Key Takeaways
  • New York’s total sports betting handle was $1.1 billion in August, a 28% year-over-year increase.
  • DraftKings regained the top spot with a 40% market share, beating out FanDuel’s 37%..
  • Caesars and BetMGM hold 11% and 6% of the market, respectively, making the top four operators account for 94% of the market.
  • Market revenue in August dipped to $98.5 million, the lowest in 13 months, possibly due to bettor-favorable results.

Total sports betting handle in New York was $1.1 billion in August, up on the prior month and representing 28% growth on the same month a year ago.

DraftKings returned to the top spot in the market, jumping over FanDuel with $447 million in handle to take a 40% market share, one of its best to date. Its rival had to accept a rare second place in the market and a market share of 37%.

This pair still represents over three quarters of all bets placed in the NY mobile sports market. The next two, Caesars and BetMGM, claim 11% and 6%, respectively, and these four heavyweights represent 94% of the market.

The remaining six percent is split up between four active operators, with Rush Street top of this group ($36 million and a 3.3% market share). PointsBet claims 1.5%; Wynn and Resorts World take less than a percentage point. BallyBet reported zero handle as has closed for a digital refurbishing.

Market revenue in August was $98.5 million, the lowest in 13 months and actually down a percentage point year-over-year — the first time in market history this has occurred. It may have been a month of bettor-favorable results, or possibly operators spending more to acquire customers ahead of the busy NFL season.

FanDuel led by this metric in August, with $42 million in revenue and a 43% market share; DraftKings reported $35 million for 36%.