New York Sets New Sports Betting Record with $2.3bn Handle in October
October marks one year since New York became the first US state to exceed a $2 billion monthly wagering handle, with this year’s figure showing a $300 million increase.
The New York State Gaming Commission’s October 2024 report reveals a record-breaking sports wagering handle of $2.3 billion for the month, setting a new state milestone. This surpasses the previous high of $2.11 billion recorded in November 2023. Notably, October marks one year since New York became the first US state to exceed a $2 billion monthly wagering handle, with this year’s figure showing a $300 million increase.
September 2024’s handle reached $2.07 billion, showing consistent growth leading into October’s record. Despite this, gross gaming revenue (GGR) in October dipped 14.9% to $176.3 million, likely due to high player winnings coinciding with the start of the NFL season. DraftKings, which reported its Q3 2024 results on the same day, pointed to increased payouts impacting revenue. Still, October’s GGR remains 5.8% higher than the same period last year.
Currently, the state’s fiscal year, running April through March, has five months left, with total wagering handle reaching $12.5 billion so far. With October’s contribution, New York State’s total revenue for 2024/25 has crossed the billion-dollar threshold, now totaling $1.17 billion. Based on these numbers, the state appears on track to surpass last year’s handle of $19.6 billion.
FanDuel led in October, generating a $907.6 million handle in New York, up from $784.2 million in September, and posting the highest GGR of $77.3 million. DraftKings followed, with a handle of $813.7 million and a GGR of $58.9 million.
Reflecting on the journey since Delaware’s 2018 move to regulate sports betting post-PASPA, New Jersey quickly became a frontrunner. Now, New York’s continued record-breaking performance highlights its prominence in the national sports betting landscape.
