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FanDuel, DraftKings lead New York sports wagering market (again) for April

FanDuel ranks as New York’s biggest online sportsbook, with DraftKings coming in second. Mobile sports betting figures for April were recently posted for all of the state’s operators: FanDuel, DraftKings, Caesars, BetMGM, Bally Bet, Wynn Interactive, PointsBet, Resorts World Bet and Rush Street Interactive.

The Empire State reached total mobile sports betting handle of $1.5bn and gross gaming revenue of $138.8m. Year-over-year, New York’s figures have risen from a monthly handle of $1.39bn in April 2022 and gross gaming revenue of $104.1m.

The top four operators in New York,Table games Flutter Entertainment (FanDuel’s parent company), DraftKings, Caesars Entertainment and MGM Resorts have all recently also released their Q1 financial results.

FanDuel’s online sportsbook revenue accounted for 51.13% of the state’s market, and 40.55% of the state’s handle. FanDuel’s mobile sports wagering handle showed a yearly increase of 4.5% to $626.3m, and gross gaming revenue rose 11.62% to $71m.

DraftKings was second to FanDuel with $44.9m in gross gaming revenue or 32.36% of the revenue share. The company also accounted for 33.44% percent of the state’s handle, at $516.4m.

The sportsbook with the largest growth, 57.9% in wagering handle and 128.7% in gross gaming revenue, was DraftKings. Perhaps the operator’s use of bonuses has attracted more players and could potentially see the company achieve even more direct competition with FanDuel.

Caesars Sportsbook came in third with $12.8m in revenue and $185.3m in handle; BetMGM ranked fourth with $7.1m in revenue and $126.7m in handle. Both brands experienced revenue decreases year-on-year.

With competition in the US market at a premium in all states, PointsBet has also recently announced a partnership with Moelis & Company to sell its North American operations.