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New York Mobile Sports Betting Revenue Hits Record in November Despite Lower Handle

Ziv Chen

Last Updated: December 6, 2024 2:28 PM EST • 1 min 60 sec read.

New York Rangers goaltender Igor Shesterkin makes a save as we look at New York sports betting financials for November 2024.
New York Rangers goaltender Igor Shesterkin makes a save against the New Jersey Devils during the third period at Madison Square Garden. Photo by Dennis Schneidler / Imagn Images.

November was a great month for our best sports betting sites in New York.

The New York State Gaming Commission has its sports betting figures for November. The sports betting handle was $2.2 billion, down from the $2.3 billion collected in October. However, gross gaming revenue (GGR) increased month over month and year over year to $231.5 million. 

While the New York sports betting handle fell in November, it was still the second-highest handle in mobile sports history since NY online sports betting went live in January 2022. Additionally, the revenue total was a record for the state, beating the previous high by over $20 million. 

Revenues Bounce Back From October Slump

In October, states across the US collected high sports betting handles but experienced revenue struggles. For example, New York sports betting apps attracted a record-high sports betting handle of $2.3 billion but only generated $176.3 million in revenues. That’s less than the state generated in May 2024, when its sports betting handle was over $300 million lower.

New York wasn’t the only US state to experience this trend. In jurisdictions like Iowa sports betting and New Jersey sports betting, sports betting revenues also fell even with increased sports betting handles. The trend was seen across the whole US, with DraftKings CEO Jason Robins referring to player-friendly results when discussing the slump.

However, the record-breaking revenue and sustained betting handle in New York indicate that sportsbooks have overcome this trend and may indicate more positive results across the country.

New York Consolidating as Center of US Sports Betting

While New York’s high sports betting handle and revenues have marked it as one of the most crucial betting states since mobile sports betting launched in 2022, several moves in 2024 have consolidated the state as the center of sports betting in the US. And not just all the excellent New York sportsbook promos.

ESPN BET took WynnBET’s license and launched in NY, welcoming another major sportsbook operator to the roster of platforms licensed by the New York State Gaming Commission. In addition, Fanatics announced it would return to New York with Fanatics Fest 2025 after the success of its inaugural event in the Empire State in 2024.

Fanatics Fest sees hundreds of celebrities and athletes gather together with sports fans for a series of events, including autograph and photo opportunities, brand activation events, live podcast broadcasts, and collectible trading spaces.

At Fanatics Fest 2024, celebrities like Peyton and Eli Manning, Tom Brady, Jerry Rice, Mike Tyson, Rhea Ripley, and Kevin Durant.

Lance Fensterman, CEO of Fanatics Events, commented, “The inaugural Fanatics Fest NYC delivered on our vision to create a unique, first-of-its-kind space that brought together fans from all backgrounds to celebrate their passions across sports, culture and collecting. The ‘FoMO’ was real, and we’re committed to taking everything fans loved about year one and making it bigger and better, while also taking the great feedback we received to heart and improving select areas.”  

With New York producing the highest revenues of any state in the US and continuing to break revenue records, more and more betting events will likely be hosted in NY.

Written By:
Ziv Chen
Ziv has over two decades of experience in the igaming and sports betting industry, having served in senior marketing and business development positions with both B2C and B2B companies, including Playtech and Microgaming. In 2019, Ziv decided to pursue his passion for writing and became a fulltime industry journalist, covering casino, sports, and gambling business news. He’s specialties include casino games and technology, US state gambling regulation, company performance, as well as gambling affiliates and marketing. As a Pitt graduate, Ziv is a diehard fan of all Pittsburgh sports teams, with the Steelers at the top of the list. In his free time, he enjoys reading crime fiction, biographies (mainly of sports personalities, but not only) and American history. Ziv’s Favorite quote: “We're going to pursue perfection, knowing full well we won't catch it, but we're going to relentlessly chase it," Mike Tomlin, Pittsburgh Steelers Head Coach.