Football gaming giant Fanduel surpasses the milestone of $1 billion in mobile sports wagering proceeds in New York state.
FanDuel Dominates New York Sports Betting Market
In the bustling world of sports betting, FanDuel has established itself as a leading player in New York, a state that has seen a significant surge in mobile sports wagering.
FanDuel currently holds a remarkable 10.4% market share in New York, which is nearly 50% above the industry standard of 7%. This dominance is reflected in the company's financial performance, with FanDuel consistently posting impressive gross gaming revenue (GGR) figures.
For instance, FanDuel recorded a GGR of $21,188,729 for the week ending April 24, 2022, a figure that rose to $22,291,942 for the week ending May 7, 2023. The company also set a new all-time operator weekly high of $26.6 million in GGR for the week ending January 22, 2023.
FanDuel's success in New York is not a recent development. The company has maintained a 67-week streak in which it has finished each week with positive GGR. In fact, FanDuel is the first mobile sports wagering operator in New York to surpass $1 billion in revenue.
When May's numbers are released, FanDuel's overall tax bill in New York will surpass $500 million. For the four full weeks of May, the company's tax bill is estimated to be more than $36.1 million.
FanDuel's rivals, DraftKings and Caesars Sportsbook, have also made their mark in New York. DraftKings has finished with GGR of $20,241,157 for the week ending January 22, 2023, while Caesars Sportsbook and BetMGM have tied with FanDuel for the second-fewest losing weeks among operators in New York. DraftKings has finished in the black all 73 weeks of wagering in New York.
New York and Florida currently top the list for mobile sports wagering operator revenue. New York recorded a mobile sports betting handle of $23.94 billion and generated GGR of $2.14 billion between April 2024 and March 2025, marking a 21.6% rise year-over-year. Florida launched mobile sports betting in December 2023 and achieved a $12 billion handle in its first full year (2024), with a gross revenue of approximately $1.175 billion and an average hold rate of 9.2%.
FanDuel's exact revenue from New York since launch is not publicly specified in these sources, but the company has been a major player in that market.
In the post-PASPA era, FanDuel's revenue in New York accounts for approximately 5.5% of the $18.3 billion in gross revenue generated by all operators. The $477.6 million in levies paid in the first 16 months account for more than 15% of the nearly $3.16 billion in state taxes raised nationwide during the post-PASPA era.
With its consistent performance and significant contributions to New York's state revenue, FanDuel continues to cement its position as a dominant force in the sports betting industry.
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In the thriving sports betting industry, FanDuel's parlay of impressive performances in New York has led to a significant 10.4% market share, surpassing the industry standard. This sports wagering dominance is evident in the company's sports line, with FanDuel posting remarkable gross gaming revenue (GGR) figures that often surpass competitor DraftKings.
