As a licensed operator in New York State, Flutter Entertainment's FanDuel remains the most powerful operator in New York. In July, FanDuel reported a total betting amount of $482.5 million, with revenues of $59.3 million, holding a share of 12.3%, which is above the market average. DraftKings remains in second place, with a betting amount of $456.7 million, a share of 10.5%, and revenues of $48 million.
The competition is getting more intense. Caesars Entertainment's customers bet $108.6 million in July, generating revenues of $10.8 million. Fanatics held a share of 11.7%, meaning its revenues surpassed BetMGM, which earned $8.9 million in revenue from $76.1 million in bets. The Entain-MGM Resorts joint venture reported a betting amount of $89.2 million, but with a share of only 9.7%, meaning revenues of $8.8 million.
The only other operator with revenues exceeding $1 million is Rush Street Interactive, with a betting amount of $35.4 million and revenues of $3.54 million.
The total tax on gambling revenues for New York sports betting is 51%, meaning operators could only retain $68.8 million out of the $140.3 million in revenues for July. The remaining $71.6 million was allocated to the state's education funds.
