NY reports worrying September figures but ESPN Bet makes a splash

New York has released its September mobile sports betting revenue results, but broadly speaking, it was a mixed picture.

Although overall spending hit $1.8 billion in the Empire State last month, representing a 2.3% increase compared to the same period the previous year, as well as denoting a whopping 25% rise compared to August this year, revenue slowed.

The New York State Gaming Commission revealed that the GGR (gross gaming revenue) for September eclipsed last month’s total by 27.5%. However, in returning GGR of $159.4 million, this depicted a 3.7% year-on-year fall.

ESPN Bet’s early performance

• Generated over $100 million in revenue from $4 million in total bets placed, with a 2.57% hold.

• Daily handle per user in its first week was 29.6% higher than in any other state it operates in.

• Platform currently active in 19 states.

DraftKings remains dominant

• Reported $69.7 million in revenue from a $788.3 million handle.

• Achieved a hold of 8.84%.

• Continues to lead by a wide margin over other operators.

FanDuel in second place

• Recorded $52.6 million in revenue.

• Total bets reached $511.6 million.

• Delivered a 10.28% hold, slightly ahead of DraftKings on margin.

At first glance, the figures that have come out aren’t the most flattering for the New York mobile sports betting industry. However, with ESPN Bet now in the picture, perhaps this will help raise the game of the other operators around them in the last few months of 2024.