The National Football League is back for its 2022/2023 season, and mobile sports betting volume in the Empire State has rocketed once more. As predicted, the start of the football season, provided a much-needed boost for the online sports betting market in New York. And for the week, of September 11, 2022, the state reports over US$330 million in online volume.
In January this year, the New York State legislature introduced its first online sports betting market which allows locals to place online wagers on their preferred sporting events from their mobile devices. And despite its limited operator model of just nine sportsbooks, the market is thriving more than well, as it has already surpassed US$10 billion in accepted wagers online since launch.
Football is Back and so is Betting Volume
On Friday, the New York State Gaming Commission released its latest weekly numbers on the market, which demonstrated that volume has picked up big time since the start of the NFL. According to the report, for the week of September 4 through September 11, 2022, the nine sportsbooks have accumulated over US$330 million in online sports wagers.
This is the state’s largest weekly volume recorded since the week of May 2 through May 8, 2022, and the latest results put the state back on track of getting more than US$1 billion in monthly handle since June 2022. Numbers are still not the expects, however, the volume could also increase with a full schedule that features Monday Night Football.
After taking the lead early on, FanDuel is now facing larger and larger opposition in terms of handle volume from DraftKings which has started to catch up. For the week, that ended on September 11, 2022, DraftKings generated its highest weekly market share in the Empire State, which translated to 35.5% of the total accepted bets. Meanwhile, FanDuel handled 39% of all digital wagers.
In terms of US$, FanDuel handles over US$128.7 million out of the total US$330 million handled, while DraftKings got US$117 million in online bets. The two sportsbooks have been the benchmark for the market, as since its launch FanDuel has averaged a 40.2% in market share in comparison to DraftKings’ 25.4%.
Heavily Reliant on the NFL
New Yorkers are big fans of the NFL and they just love to wager on it. This was confirmed by GeoComply, which reported more than 103 million geolocation checks were conducted in the country for the first set of NFL games. Out of those, 103 million checks, 15.2% came from the Empire State and its relatively new mobile sports betting market.
The state is also quite confident that with the first full NFL season of its new online market, it will be able to easily clear more sports betting milestones in the next 12 months. Executive Director of the New York State Gaming Commission, Rob Williams believes that the local market could generate up to US$500 million in revenue thanks to the NFL interest among local bettors.
Source: Mazzeo, Mike “NY Hits $330 Million In Online Sports Betting Handle For NFL Week 1” Legal Sports Report, September 16, 2022