New York’s sports betting operators break monthly GGR record in November

New York’s nine licensed sports betting operators have generated a monthly GGR record of $148.2m for November 2022.

The total was nearly $3m higher than the previous record set last month (October) as Empire State sports bettors spent a combined $1.55bn in November sports betting handle.

This was a fiscal year record for mobile sports wagering handle. However, November’s total still trailed January 2022 and March 2022, which both generated handle in excess of $1.6bn.

New York’s regulated mobile sports betting market opened for business on 8 January 2022.

Since then, America’s fourth most populous state has provided nearly $15bn in overall betting handle and $1.2bn in combined operator GGR.

Over the same period, New York’s regulated sports betting industry has contributed more than $620m in tax revenue to the state, including a monthly record of $75.6m in November.

The tax rate is set at 51% of GGR – the highest of any US state to have legalised online sports betting, while active operators also paid a one-off licence fee of $25m.

US market leader FanDuel generated the most GGR of any operator for November with $78.3m, which again was a record month for the Flutter Entertainment-owned brand.

DraftKings was the closest competitor with monthly GGR of $42.3m, while no other licensed operator generated GGR of more than $15m for the month.