The most recent report from the New York State Gaming Commission confirmed what is no surprise: FanDuel and DraftKings rank one and two in the lucrative sports betting market as the first year of mobile wagering completes 10 months, according to Sports Handle.
Guided by a very high hold rate, FanDuel owns almost half the $12.8 billion handle generated by New York bettors since the January 8 launch. State gamblers also contributed $1.06 billion in gross gaming revenue (GGR).
FanDuel bettors produced $5.2 billion in handle and $501 million in GGR. DraftKings racked up $3.49 billion in handle and $265 million in GGR while Caesars Sportsbook brought in a handle of $2.3 billion and $183 million in GGR.
By market share percentage, FanDuel comes in with 47.2 percent, then comes DraftKings at a distant 25 percent with Caesars finishing third at 17.3 percent. The other six licensees divided up just 10.5 percent: BetMGM, WynnBET, Bally Bet, PointsBet, BetRivers, and Resorts World.
In part, credit a 9.6 percent hold rate—also known as the loss rate for bettors—for FanDuel’s results. By comparison DraftKings showed a 7.6 percent hold rate, with Caesars at 8.6 percent. The nationwide average comes in at about 7.2 percent.
With fall, football buoyed New York results. Gamblers wagered $345 million on sports over the week ending Oct. 30, just $20 million less than the prior week.
