November marks another strong month for regulated mobile betting operators in New York, data released by the gambling regulator in the state reveals. The New York State Gaming Commission, the body tasked with the regulation of sports betting in the state, released its latest report, outlining that both betting handle and mobile sports betting gross gaming revenue (GGR) increased last month.
Mobile Betting GGR Hits Record in November
The new report reveals that the betting handle in November hit a new record for the last six months. Overall, the mobile sports wagering handle in November was $1.55 billion, marking an increase from the $1.54 billion reported a month earlier, in October. Not unexpectedly, with the increase in the betting handle, the GGR for mobile sports betting soared as well.
In total, mobile sports betting GGR last month was $148,221,832, marking the highest result since the launch of the activity back in January. Moreover, the result from November marked the third consecutive month with an increase in sports wagering GGR after, in October, GGR was $145.7 million, while in September, it hit $143.3 million.
A breakdown provided by the gambling watchdog reveals that the net revenue for the operators in November was $72.6 million. When compared to the $71.4 million in revenue reported a month earlier, in October, this result marked another increase. Similarly, the net revenue for the state, based on the 51% tax rate for online sportsbooks, increased as well, hitting $75.6 million, up from $74.3 million reported in October.
FanDuel, DraftKings and Caesars Lead in Betting Handle and GGR
According to a further breakdown released by the New York State Gaming Commission, FanDuel was the leader in terms of betting handle and mobile betting GGR in November. The operator reported a total of $646.2 million in betting handle which resulted in int $78.3 million in betting GGR. This result translated to $38.4 million in net revenue FanDuel and $39.9 million for the state.
DraftKings was another operator at the helm of sports betting in New York last month. Overall, the operator reported a betting handle of $498.7 million in November, marking a decrease when compared to the $534.6 million reported in October. Despite the lower handle, mobile GGR in October was $41.1 million, while in November, it soared to $42.3 million, bringing $20.7 million in net revenue for DraftKings and $21.6 million in revenue for the state.
In November, Caesars Entertainment was the operator with the third-highest revenue and GGR in New York, judging by the gambling regulator’s latest report. The betting handle reported by Caesars hit $200.3 million, delivering $14,923,067 in mobile betting GGR. This result came significantly close to the $14,923,209 reported in GGR for October but fell short of the $18.6 million reported in September.