FanDuel breaks $1bn handle barrier in New York as statewide GGR surpasses $200m
Flutter Entertainment-owned FanDuel has become the first operator to handle more than $1bn in wagers in New York’s newly regulated mobile sports betting market.
As of the week ending 27 February, FanDuel topped the market share rankings for handle having taken a total of $1.07bn in wagers and generated $50.3m in GGR in the Empire State.
These figures put FanDuel in pole position, overtaking Caesars Sportsbook, which got off to an early lead in the market thanks to the availability of extravagant new customer bonus offers.
Last month, Caesars Entertainment CEO Tom Reeg announced the operator would “dramatically curtail” its US marketing efforts, having already exceeded its market share targets.
Despite FanDuel taking the number one spot for betting handle, the brand lags behind both Caesars ($78.7m) and DraftKings ($58.9m) in terms of GGR since all three firms went live on 8 January 2022.
As of the end of February, total wagers across New York since that date reached $3.16bn, with operators generating combined GGR of $204.7m.
Smaller operators in the state continue to be dwarfed by the three market leaders, with BetMGM generating $7.3m in GGR since market launch. PointsBet is next on $5.7m, ahead of Rush Street Interactive’s BetRivers ($3.0m) and Wynn Interactive, which has generated just $731,043 since going live on 4 February.
No figures have been made available for Resorts WorldBET, which became the eighth operator to go live last week from the nine firms to have been awarded a licence by the New York State Gaming Commission.
Bally Bet is now the only remaining licensee still to launch in New York, and is expected to do so in April this year.
Last month, Bally’s CEO Lee Fenton reassured shareholders that the operator was committed to launching in New York within the first half of this year after completing a complex technical integration behind the scenes.
The operator is still in the process of building its sportsbook on the Bet.Works platform it acquired in June of last year, in what Fenton described as a “Herculean effort” by the technology department.