Mobile sports betting in New York has reached impressive numbers, with a whopping volume of $19.6 billion. Therefore, the value was recorded during the 2023/24 fiscal year, as revealed by the US state.
Therefore, even before the March results were released, the state had already surpassed its revenue total for the previous fiscal year. Thus fueling a second consecutive fiscal year of booming legal mobile sports betting.
Total revenue for the 2023/24 fiscal year has almost reached the impressive $20 billion mark, reaching $19.6 billion. While the game’s gross revenue (GGR) was consolidated at US$1.76 billion.
In terms of March-specific numbers, there was a slight increase in mobile sports betting volume compared to the same period last year, rising from $1.79 billion to $1.85 billion.
Despite representing a monthly increase of just 4.3%, this was still the fifth highest volume recorded by the state in a single month. All this, since the start of legal sports betting operations in January 2022.
The start of “March Madness” (college basketball championship playoffs) in mid-March certainly boosted this increase compared to February.
Performance of sports betting operators
As for GGR, March recorded a value of 151.7 million dollars, marking growth compared to February, when it was 131.4 million dollars, although there was a drop compared to the previous year.
On an annual basis, GGR decreased by 6.8%, with the previous year’s March figure still the fifth highest ever achieved by New York.
Analyzing the performance of the main operators in New York during March, it is observed that FanDuel managed a slight recovery in relation to February’s numbers, increasing its GGR by almost US$10 million.
BetMGM, meanwhile, experienced an impressive 1,243.4% increase in its GGR compared to February. DraftKings, despite recording an increase in its ownership, saw its revenue fall from $53.4 million in February to $48.8 million in March.
Finally, PointsBet, which migrated to the Fanatics platform at the end of February, saw a 35.8% drop in March compared to February. Even though GGR increased to $3.8 million in its debut month.
