FanDuel Dominates NY Sports Betting with $1 Billion in July
Transcript
00:00Let's get started here and the numbers are in from July for FanDuel and boy, what a huge
00:09number here.
00:10A lot of parlays, I'm guessing, Jim, being played here.
00:13Am I seeing $1 billion with a B for July?
00:16Is that accurate?
00:17Yeah, $1 billion with a B for July in New York and it's the first July that New York
00:24sports betting handle has eclipsed that $1 billion threshold.
00:30If you look back in July 2022, almost $801 million, $23 million, $962 million and then
00:40last month $1.26 billion bet in New York.
00:46It's the 12th consecutive month now that New York sports bettors have sent in over $1 billion.
00:54That market just seems to continue to be growing as large as it is with those massive
01:00dollar amounts.
01:01It does seem to be growing and it'll be interesting to see what happens here in the next couple
01:06of weeks and months as football season gets underway.
01:11FanDuel, the big winner, I guess you could say in July in New York, $482.5 million in
01:20handle, $59.3 million in revenue.
01:25They continue to set the pace in this market and like you said off the top, Craig, parlays,
01:30I'm sure, has a lot to do with that nearly $60 million in winnings from July.
01:36Unfortunately, in New York, we don't get a per bet or bet style, per sport, whatever
01:44you want to call it, breakdown.
01:48We can't exactly say for sure if and how much of that was due to parlays, but as we've
01:56seen in other markets across the country, I'm sure it was a large percentage of their
02:01winnings.
02:02One other interesting note coming out of New York in July was Fanatics, nearly $9 million
02:08in winnings for Fanatics and that was the highest total, the highest monthly total for
02:14Fanatics.
02:16They've only been active in New York for a handful of months now as they took over for
02:21PointsBet, but even going back to the PointsBet's days, that $8.9 million in revenue from July
02:29is the best when you're looking at Fanatics or even PointsBet going back to when that
02:35market opened in January of 2022, Craig.