The New York State Gaming Commission has released its report for October 2024, highlighting a new record total sports betting handle of $2.3 billion for the month.
This latest data surpasses the previous record of $2.11 billion set in November 2023. Additionally, in October last year, New York became the first state in the US to report a monthly betting handle exceeding $2 billion, marking a $300 million increase from the same period the previous year. In September 2024, the reported betting handle was $2.07 billion.
Despite impressive betting figures in October, the total gaming revenue (GGR) decreased by 14.9% to $176.3 million. However, this decline is likely due to increased player bonuses at the start of the NFL season, as mentioned by DraftKings, which also released its Q3 2024 results today. Nonetheless, New York's total gaming revenue for October 2024 still saw a year-over-year increase of 5.8%.
New York's fiscal year runs from April to March, and there are five more monthly gaming reports to be released for the 2024/25 fiscal year. So far this year, the total gaming handle has reached $125 billion, with New York on track to surpass the $196 billion from the 2023/24 fiscal year. Moreover, October's total gaming revenue has pushed the state's total revenue for the 2024/25 fiscal year well past the $1 billion mark—totaling $1.17 billion.
It's worth noting that the highest record of total gaming revenue reported by the New York State Gaming Commission was in January 2024, reaching $211.5 million.
In October, FanDuel led the pack with sports betting revenue of $907.6 million in the Empire State, up from $784.2 million in September. This operator also set the highest monthly GGR at $77.3 million, although this was lower than September's $97.9 million. Following closely was DraftKings Sportsbook, with October betting revenue of $813.7 million and a GGR of $58.9 million.
Since the overturning of the Professional and Amateur Sports Protection Act in 2018, Delaware became the first state besides Nevada to regulate sports betting, and New Jersey, also one of the first states to legalize sports betting that same year, has become a leading region.
But New York has now taken the lead, consistently exceeding a monthly betting handle of $2 billion.
