FanDuel Hits Record Mobile NY Sports Betting Share In June

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NY sports betting

FanDuel Sportsbook took its leadership of mobile NY sports betting to new heights, according to Friday‘s report.

The eight mobile New York sportsbooks reported $265.6 million in wagers and $13.9 million in sports betting revenue in the week ending June 19.

FanDuel has led handle share since February and took 47% of all money bet during the most recent week. That translated to a staggering revenue share of 89.1% for the period.

Where did other mobile NY sportsbooks land?

DraftKings was the only other operator to post more than $1 million in revenue for the week. Three operators turned in negative revenue for the period:

Resorts World Bet$1,852,165($45,052)-2.4%($22,977)

The NBA Finals ended June 16. That means all NBA future bets were paid out during the period.

Next few weeks telling for NY sports betting

New York will report 11 more weeks of results between now and the start of NFL betting in earnest when the league opens Sept. 8.

That leaves a lot of time for those results to be analyzed and critiqued during the slow period that includes just MLB betting from the four major sports.

Still, this period could influence tax expectations for years to come should the market significantly slow down. PlayNY reported the fiscal 2023 NY budget forecasts $615 million in tax revenue from online NY sports betting but notes that figure drops to $454 million in fiscal 2024.

Bally Bet could miss another launch target

Back in February, Bally’s CEO Lee Fenton said there was no reason to rush into markets using an “inferior product.” He anticipated Bally Bet 2.0 launching in New York during the first half of this year after Bally’s Chairman Soo Kim said he expected an April launch.

The deadline to hit that second target arrives in just four days. The Bally Bet website notes a launch is coming but offers no specifics:

“We’ll be in the Empire State in a New York minute. Register now and we’ll let you know when we’re live.”

A spokesperson for Bally’s did not answer questions about the launch date. The brand remains the only licensed mobile NY sportsbook yet to go live.