Between September 4th and the 11th, New York’s online sports betting handle sky-rocketed after Week 1 of the NFL season had commenced.
However, despite reaching significantly high numbers, the figures were still lower than what expectations had reached.
GeoComply and their advanced tracking data had announced 15 million geolocation pings from the Empire State since the NFL’s opening Week 1 odds became available. These numbers returned $330 million in online sports betting handle for New York-based operators.
The Big Apple Sports Betting Handle Should Grow
NFL Week 1 was the largest weekly online sports betting handle for New York since the week commencing May 2nd. It undoubtedly puts the Empire State in a position to reach its goal of $1 billion sports betting handle monthly.
Although the expectations weren’t met, New York’s weekly online sports betting handle will likely increase with a packed NFL schedule ahead and the arrival of the NBA in the winter months.
Huge Numbers From the Onset
It should be noted that promotional offers and market expenditures have dramatically lowered since New York’s January 8 launch. A prime example is Caesars Sportsbook promos, which no longer offers the $3,000 match bonus that it once did.
In 2021, the sports betting handle in NY received huge numbers from the onset during their first five weeks of business as the NFL season concluded.
- • January 10-16 ($432 million)
- • January 17-23 ($573 million)
- • January 24-30 ($449 million)
- • January 31-February ($360 million)
- • February 7-13 ($472 million)
FanDuel and DraftKings Continue Their Heated War
Since online sports betting became legal in New York, DraftKings’ sportsbook has failed to surpass their rival FanDuel in claiming the top position of the market share.
Since January 8, FanDuel has averaged 40.2% of the New York market share, versus DraftKings’ 25.4%.
Between September 4 and 11, DraftKings came close to exceeding their foe with a 35.5% market share in NY, but even their most significant market share in New York to date couldn’t outperform FanDuel, whose weekly share during this period was 39%.
When converting these percentages into dollars, FanDuel took $128.7 million compared to DraftKings’ $117 million in September.
When combining the two operators, they take a total of 74.5% of New York’s market share in the online sports betting space.