DraftKings Reclaims Top Spot in New York Sports Betting Market
Category
🥇
SportsTranscript
00:00 got some new numbers in in terms of sports betting. And I guess to nobody's surprise,
00:05 sports betting continues to be wildly popular in New York. What are the numbers say from
00:09 August? Yeah, so like you said, it's one of, if not the biggest sports betting market in
00:18 the country. And what we saw in August was DraftKings reclaimed that top handle spot
00:29 in New York. DraftKings and FanDuel, obviously numbers one and two there like they are in
00:37 most every other market across the country. DraftKings, like I said, reclaimed that top
00:44 handle spot in August. They had the top handle spot in June, which was the first time ever
00:50 that DraftKings was able to accomplish that. FanDuel reclaimed that in July, DraftKings
00:56 back in August. So what's the what's the overall theme here? These two keep kind of going back
01:03 and forth for accepting the most amount of betting dollars in New York, at least throughout
01:09 the summer. What's interesting, though, is in terms of revenue last month in July, both
01:18 of them were kind of running neck and neck, almost identical revenue figures for the month
01:23 of July. But we did see in August that FanDuel did widen that gap a little bit in August
01:33 over DraftKings in terms of revenue. So FanDuel had 42, roughly 42 million dollars in revenue
01:43 compared to DraftKings, 35 million. Caesars, I just mentioned them. They were the only
01:51 other sports betting app in New York to handle over 100 million dollars in August. They came
01:59 in around 120 million dollar mark. I know we talked about Craig in July. Overall monthly
02:08 handle in New York dropped below that that billion dollar mark for the first time in
02:13 the last 12 months. August, we saw that handle mark go back up over a billion dollars. So
02:21 a little bit of growth there month over month. Back to the revenue side overall, cumulatively,
02:29 all the sports betting operators in New York, their overall revenue was just shy of 100
02:37 million for the month in August, which was the first time in 12 months of going all the
02:42 way back to August of 2022 that operators failed to combine for 100 million dollars
02:50 or more in revenue. So overall, I'd say a pretty positive month for New York. DraftKings
02:56 certainly reclaiming that top spot in handle. But again, we'll see how everything kind of
03:03 shakes out here over the next couple of weeks and months as we get into the bulk of football
03:08 betting. And obviously, as we know, that is the the main driver of betting dollars across
03:14 all legal markets across the United States.