FanDuel Breaks Online Sports Betting Revenue Record in New York

FanDuel US licensed sportsbook
The website FanDuel is shown on a computer monitor. Scott Olson/Getty Images/AFP

FanDuel Sportsbook continued its proven dominance in New York’s mobile betting space, as last Friday’s report of June revealed some staggering numbers.

In total, the eight online sportsbooks operating in the Empire State disclosed $256.6 million in wagers and $13.0 million in sports betting for the week ending June 19, 2022.

FanDuel has topped the operator’s handle list since February and received 47% of all the money wagered this past week. When converted into revenue share, FD took an overwhelming 89.1% during this time.

How Did Other Online Operators in New York Fare?

Outside of FanDuel’s figures, DraftKings was the only other sportsbook that achieved a revenue higher than $1 million for the week.

Revenue figures for all eight NY sportsbooks:

Resorts World Bet$1,852,165

The NBA Finals concluded on June 16, meaning that NBA future bets were also paid out during FanDuel’s impressive week of returns.

The Slow Season Will Be Telling

Sportsbooks begin to prepare for a quiet summer as the MLB is the only major sport running between now and the NFL season beginning on September 8. New York will have an additional 11 weeks of sports betting results, and these figures will allow analysts to critique the market within this slow period.

This time frame could be telling on the tax expectations for the future if the market slows down exponentially. PlayNY recently reported the fiscal 2023 NY budget is projected at $615 million in tax revenue from online New York sports wagering but also highlights this figure dropping to $454 million in fiscal 2024.

Will Bally Bet Ever Launch?

Initially expected to launch in April 2022 when Chairman Soo Kim shared his expectations, Bally Bet is yet to launch its product despite the anticipation of Bally Bet 2.0 launching in New York during the year’s first half.

Bally Bet’s CEO Lee Fenton did highlight there was no reason to force themselves into a market with an “inferior product”, but with their second deadline due to arrive in four days, the Bally Bet website remains blank with an official launch, but it does state:

“We’ll be in the Empire States in a New York minute. Register now, and we’ll let you know when we’re live.”

Bally Bet is the only licensed New York sportsbooks operator that has yet to go live.