New York online sports betting handle from Week 1 of the NFL season did well, but perhaps did not live up to sky-high expectations.
Expectations were massive for the Empire State after GeoComply’s tracking data reported 15.7 million geolocation pings in NY during the opening weekend for NFL betting.
But that translated into $330 million in online sports betting handle for NY operators from Sept. 4-11.
NY online sports betting handle could increase
It is the state’s highest weekly online sports betting handle since May 2-8. And it does put NY back on track for its first $1 billion-plus monthly online sports betting handle total since June.
But expectations were definitely higher going into the first full NFL season featuring legal online sports betting in NY.
Weekly online sports betting handle could still increase with a full schedule that includes Monday Night Football, as well.
Massive numbers out of the gate
Granted, marketing and promotional spend among NY operators is significantly down from where it was during Jan. 8 launch. There aren’t, for example, any $3,000 deposit match bonuses at Caesars Sportsbook anymore.
Last year, NY jumped out of the gate with massive numbers in its first five full weeks of online sports betting handle as NFL season reached its conclusion.
- Jan. 10-16: $432 million
- Jan. 17-23: $573 million
- Jan. 24-30: $449 million
- Jan. 31-Feb. 6: $360 million
- Feb. 7-Feb. 13: $472 million
DraftKings-FanDuel battle wages on
DraftKings Sportsbook has consistently finished second in market share to dominant rival FanDuel Sportsbook in NY.
Since Jan. 8 launch, FanDuel has averaged a 40.2% NY market share to DraftKings’ 25.4%.
But DraftKings is edging closer. At least it did during Week 1.
From Sept. 4-11, DraftKings recorded its highest NY weekly market share (35.5%). FanDuel’s weekly market share during that span was 39%. As far as dollars, it was $128.7 million in handle for FanDuel compared to $117 million for DraftKings.
Combined, they made up 74.5% of the total NY online sports betting operator market share.