New York’s Sports Betting Market Continues to Shatter Records in November

Bettors in the Empire State have been busy over the last month.

A report by the New York State Gaming Commission showed a handle of $491 million for the week ending November 17. While that broke a streak of weeks that saw over $500 million in wagers, it marked the fourth straight week with gross revenue over $52 million. That sets a new record for the New York market, which is the most profitable in the US.

End of MLB Season Doesn’t Cool Market

New York’s record-setting October numbers were due in part to the MLB playoffs. The New York Mets and Yankees both made the postseason, with the latter advancing to the World Series. The Yankee fanbase is among the largest in sports, leading to a record-high $2.3 billion handle for the month.

Many experts believed the market would cool off once the World Series ended, but that hasn’t been the case. While the NFL and college football seasons are driving success, the start of the NBA and NHL seasons have helped make up for the end of the MLB season. That has the state on pace for another record-setting month in November.

FanDuel Continues to Lead Market

FanDuel accounted for $202 in wagers for the week ending November 17. That beat out DraftKings, who finished with $162 million. Fanatics came in at a distant third with $37 million in bets, beating out BetMGM and Caesars.

While DraftKings has produced some strong months, FanDuel has led the New York sports betting market since it launched in January 2022. They have $22 billion in wagers since then, with DraftKings seeing $18 billion. 

Poor Seasons From Jets and Giants Haven’t Slowed Betting

Unlike most markets, New York continues to rake in NFL bets despite both teams' poor performances this season. They have a combined six wins, meaning neither will make it to the postseason.

One reason NFL betting numbers remain strong is that New York fans are used to disappointment. While the Jets came in with expectations, neither team has done much over the last decade. If and when they can turn things around, it will be interesting to see if it further boosts the state’s impressive sports betting market.