{"id":50750,"date":"2022-09-13T08:07:36","date_gmt":"2022-09-13T08:07:36","guid":{"rendered":"https:\/\/gaming-awards.com\/NEWS\/?p=50750"},"modified":"2022-09-13T08:07:36","modified_gmt":"2022-09-13T08:07:36","slug":"new-yorks-sports-betting-performance-below-par","status":"publish","type":"post","link":"https:\/\/gaming-awards.com\/NEWS\/new-yorks-sports-betting-performance-below-par\/","title":{"rendered":"New York\u2019s Sports Betting Performance Below Par"},"content":{"rendered":"
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New York<\/p><\/div>\n

Operators in New York have presided over unprecedented handle figures since the inception of the state\u2019s sports betting market in early January. A launch month wagering return of $1.67bn emphatically announced the Empire State\u2019s arrival into the sportsbook sector, and immediately served to solidify its position as the industry\u2019s most lucrative U.S jurisdiction.<\/p>\n

However, in terms of its financial performance, New York\u2019s inaugural month remains its strongest to press. Clearly, that astronomical figure would have always been challenging to eclipse, but a concerning pattern began to emerge towards the Spring. Between April and July, New York\u2019s handle numbers steadily declined, resulting in the state dipping below the $1bn threshold for the first time in July. True, the traditional lull in the U.S sporting calendar can partially explain such dwindling returns, but a second consecutive month to register a total south of $1bn has raised one or two early Autumnal alarm bells.<\/p>\n

Indeed, in August, New York residents placed $872.2m worth of bets, a 9% uplift on the previous month, but still some way short of previous monthly tallies. Encouragingly however, gross gaming revenue climbed to $99.6m, a significant, 35% improvement on July\u2019s $73.6m. Local sports betting stakeholders will be hoping the onset of the NFL season, which commenced last weekend, will propel more players to wager in September.<\/p>\n

New York\u2019s sports wagering theatre is dominated by betting giant FanDuel, who are headquartered in New York City. The operator was accountable for delivering 43% of the state\u2019s total handle volume, generating a staggering $46.6m in gross gaming revenue in the process. BallyBet undertook its first full trading month, after becoming the latest enterprise to gain a New York license in July. The Rhode Island-based outfit took $1m in bets throughout the duration of August, earning just short of 100k in revenue.<\/p>\n","protected":false},"excerpt":{"rendered":"

Operators in New York have presided over unprecedented handle figures since the inception of the state\u2019s sports betting market in early January. A launch month wagering return of $1.67bn emphatically announced the Empire State\u2019s arrival into the sportsbook sector, and immediately served to solidify its position as the industry\u2019s most lucrative U.S jurisdiction. However, in […]<\/p>\n","protected":false},"author":4,"featured_media":36481,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,3,8,18],"tags":[],"class_list":["post-50750","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-headlines","category-igaming","category-latest","category-n-america"],"yoast_head":"\nNew York\u2019s Sports Betting Performance Below Par - iGaming Post<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gaming-awards.com\/NEWS\/new-yorks-sports-betting-performance-below-par\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New York\u2019s Sports Betting Performance Below Par - iGaming Post\" \/>\n<meta property=\"og:description\" content=\"Operators in New York have presided over unprecedented handle figures since the inception of the state\u2019s sports betting market in early January. A launch month wagering return of $1.67bn emphatically announced the Empire State\u2019s arrival into the sportsbook sector, and immediately served to solidify its position as the industry\u2019s most lucrative U.S jurisdiction. 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