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SportsTranscript
00:00Let's move on now to this New York sports betting handle news. I know all over the United States, Jim, we're starting to get some earnings reports and I guess it should be no surprise this time of the year. A lot of earnings reports are showing hold and money being down. Is that the case in New York with some of the sports books there?
00:24No, quite the opposite, actually, Craig. New York has continued its run of year over year handle gains. In June, 1.47 billion dollars was bet in June.
00:38That's up 26 percent from June of last year when we saw 1.17 billion bet. And the interesting thing that stuck out to me is that since the New York online sports betting market opened in January of 2022, there's only been one month where the market did not produce a monthly year over year gain in handle.
01:03And that was February 2023. Every other month we've seen a rather sizable increase in betting from the same month during the year prior, which, you know, obviously the largest sports betting market in the country continues to get bigger.
01:25A lot of sort of contributing factors, I think, to that. Certainly the population is one. A lot of wealthy bettors living in New York state, probably another contributing factor to that as well.
01:42In June, we did see a little bit of a trading places at the top between FanDuel and DraftKings in May. If you recall, DraftKings took in the most handle in New York. It was FanDuel's turn to reclaim that top spot in June.
01:59They had 39 percent of the market to DraftKings' 35 percent. What does that mean in terms of dollars? $571.3 million in bets for FanDuel. They produced $67 million in revenue from that. DraftKings, $521.6 million in handle, about $41 million in revenue.
02:24The other interesting thing coming out of New York in June was BetRivers, one of the smaller players in that market, obviously because the market is dominated by the two sportsbooks that I just mentioned, FanDuel and DraftKings.
02:41A positive month for BetRivers in June, approaching $70 million in handle for the month. They were able to tick up their share of market handle by a few points in June in New York.