The Top Online US Sportsbook in New York Remains FanDuel
After securing about half the online sports betting business in New York since early January, FanDuel has staked its claim as the top sportsbook in the state. A high hold rate, a huge share of the $12.97 billion state handle and a $1.06 billion in gross gaming revenue (GGR) has lifted the New York City company from the competition.
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To this date, FanDuel operations has generated $501 million in GGR since early January. The company also generated $5.2 billion in total sports betting volume at the same time. DraftKings is second in total handle with $3.9 billion and Caesars is third with $2.3 billion. They also trail in GGR with $265 million and $1.06 billion respectively.
FanDuel has earned 47.2% of the New York legal sports betting market in gaming revenue. That is nearly double the second-place sportsbook. DraftKings has 25% of the state’s market share and Caesars has 17.3%. The other six legal online sportsbooks in the state have just 10.5% share to divide up. They are BetMGM, BetRivers, PointsBet, WynnBET, Resorts World and Bally Bet.
FanDuel’s Market Share is Also High Across the Legal US
New York legal online sports betting business is the largest operation in US and FanDuel leads the way in both handle and GGR. The parent company Flutter Entertainment recently announced its market share has approximately 51% of the legal US sports betting industry as a whole. That is quite an accomplishment from the 40% market share near the end of 2021.
FanDuel’s high hold rate in New York is 9.6% since launching its online operations Jan. 8 of 2022. DraftKings has a hold rate of 7.6% and Caesars is 8%. The other sportsbook operations in New York have averaged an 8.6% hold rate. The average hold rate in the US amongst legal sportsbooks is around 7.2%.
College football and the NFL have returned this fall to provide a major lift to legal US sportsbooks across the country. New York is leading the way with the state’s sports bettors risking between $300 million and $350 million in volume each of weeks of the fall season.
FanDuel’s high return in GGR makes the company the leader in the New York market as far as the nine legal online sportsbooks in business for the state. FanDuel simply repeats this process all over the legal US sports betting industry every single week.
The Top Four Legal US Sportsbooks Lead the Way
FanDuel and DraftKings have made their way to the top of the legal US sportsbook operators via their daily fantasy sports (DFS) leagues. BetMGM and Caesars are top US sportsbooks with ties to the major giants (MGM Resorts International and Caesars Entertainment) of the casino gaming industry.
The four US sportsbooks lead the way in legal sports betting across the country positioned by FanDuel and it’s economy of scales.
Most Recent Sports Handicapping
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- The Top Online US Sportsbook in New York Remains FanDuel
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