Editor’s note: This story is breaking and will be updated
It didn’t take long for New York to reach the $1 billion mark.
Through Jan. 23, Caesars, FanDuel, DraftKings, BetMGM and BetRivers combined for $1.18 billion in online sports betting handle, according to updated data released by the New York State Gaming Commission Friday.
New Jersey’s monthly record of $1.3 billion in sports betting handle from Oct. 2021 is about to be shattered by NY.
From Jan. 16-23, the four online sportsbooks combined for $532.1 million in sports betting handle.
Handle totals so far for NY online sports betting include:
- Caesars: $487.4 million
- FanDuel: $360 million
- DraftKings: $265.5 million
- BetMGM: $40.6 million (since Jan. 17)
- BetRivers: $22.2 million
- Total: $1.18 billion
After delivering a significant bonus promotion, Caesars remains at the top in terms of market share. And there has been no drop-off from Weeks 1-2 ($257.7 million) to Week 3 ($229.7 million). But the operator was criticized heavily by NY State Senator Joe Addabbo for a number of issues with its app. And now that its massive promo is no longer available, there are obvious concerns about Caesars keeping its No. 1 spot.
FanDuel, DraftKings also remained in the Nos. 2-3 spots, for the time being. DraftKings’ No. 3 position has to be a disappointment for the company, though Caesars’ early debacle could have DraftKings trending upward.
BetMGM generated $40.6 million from its Jan. 17 launch to Jan. 23. CEO Adam Greenblatt said the operator recorded Day 1 records in NY across the board. But that number has to also be a bit disappointing. And you can’t help but wonder if it was at least partly due to BetMGM not launching with the other major players in the market (Caesars, FanDuel, DraftKings) on Jan. 8. BetMGM has merited praise for its prompt customer service, though, so that could have it trending upward.
Meanwhile, it appears that it’s going to be very difficult for smaller operators to find any sort of a market share going forward.
PointsBet Sportsbook in New York went live Tuesday, so it’ll be interesting to see how it fares in the weeks ahead. Meanwhile, despite reports saying it was looking to sell off its online sports betting arm, WynnBet has said it plans to launch in NY in Q1 2022. Bally Bet chairman Soo Kim said the operator will launch some time in April. A Resorts World spokesman told PlayNY: “Working to launch as soon as possible.”
Total GGR so far for NY online sports betting:
- Caesars $41.8 million
- FanDuel $24.2 million
- DraftKings $21.8 million
- BetMGM: $2.5 million
- Rush Street $1.2 million
- Total: $91.5 million
- Taxes to NY (51%): $46.7 million