- Fanatics Sportsbook launched in New York in late February
- The sportsbook made more than $10.1 million during its first half-week of operation
- The sportsbook plateaued in its second week
The Fanatics Sportsbook had an up and down debut in the Empire State after transitioning from PointsBet in late February.
The operator officially launched in New York on Thursday, Feb. 29, and reported $10.1 million in gross gaming revenue during its first half-week of operation, its highest ever total since PointsBet launched in the state in January 2022.
However, for its first full week of operation ending March 10, Fanatics Sportsbook only reported a little more than $812,000 in revenue.
Fanatics Debuts, ESPN BET on its Way
The New York State Gaming Commission reported $437,140,657 million in online sports betting handle for the week ending March 10 and more than $36.9 million in gross gaming revenue.
For its first full week of operation, Fanatics Sportsbook reported $11,963,873 in online sports betting handle and just $812,439 in gross gaming revenue. Both its handle and gross gaming revenue totals decreased from the prior week totals of $27.3 million and $10.1 million, respectively.
FanDuel again took the top spot in the state, reporting $184.78 million in online sports betting handle and more than $16.4 million in gross gaming revenue for the week. DraftKings totaled $146.5 million in handle and $13 million in gross gaming revenue.
The New York State Gaming Commission releases handle and revenue reports for its nine NY sports betting apps, Caesars Sportsbook, DraftKings Sportsbook, FanDuel, BetMGM, WynnBET, Fanatics Sportsbook, Bally Bet, Resorts World Bet, and BetRivers, at the conclusion of each week.
Here are the handle breakdowns for the nine sportsbooks for the week ending March 10:
- FanDuel NY: $184,786,638
- DraftKings NY: $146,538,194
- Caesars Sportsbook NY: $44,053,739
- BetMGM NY: $31,744,125
- BetRivers: $12,731,321
- Fanatics Sportsbook: $11,963,873
- WynnBET: $2,100,329
- Resorts World: $2,240,502
- Bally Bet: $1,764,992
ESPN BET is slated to come to New York after securing market access through a $25 million deal for WSI US, LLC, from Wynn Interactive Holdings. WynnBET is still operating in the state and ESPN BET has yet to announce a transition date.
Here are the total handles for the nine sportsbooks since New York’s Jan. 8, 2022 launch. FanDuel is the only operator in the state to eclipse $16 billion in total handle so far.
- FanDuel: $16,176,257,595
- DraftKings: $12,832,634,574
- Caesars: $5,355,144,652
- BetMGM: $2,875,567,118
- BetRivers: $1,144,637,142
- Fanatics Sportsbook: $874,451,053
- WynnBET: $225,702,090
- Resorts World: $148,135,341
- Bally Bet: $49,247,015
NY Sports Betting Revenues
For the week of March 10, the nine sportsbooks reported a total of $36,966,584 in gross gaming revenue. At New York’s 51% online sports betting tax rate, this resulted in $18,852,957 million in tax revenue.
Here are the total gross gaming revenues for the week:
- FanDuel: $16,459,029
- DraftKings: $13,050,790
- Caesars: $3,335,701
- BetMGM: $2,310,712
- BetRivers: $841,929
- Fanatics Sportsbook: $812,439
- Resorts World: $148,006
- WynnBET: $18,698
- Bally Bet: ($10,720)
Here are the total gross gaming revenues since the Jan. 8, 2022 launch:
- FanDuel: $1,664,542,840
- DraftKings: $1,068,292,379
- Caesars: $384,162,619
- BetMGM: $186,778,245
- BetRivers: $66,609,953
- Fanatics Sportsbook: $53,264,277
- WynnBET: $10,855,687
- Resorts World: $9,054,307
- Bally Bet: $2,067,911
Fanatics Sportsbook, the popular online sports betting platform, has been making waves in the New York market since its launch two weeks ago. With a strong focus on user experience and a wide range of betting options, Fanatics Sportsbook has quickly become a favorite among sports fans in the state.
One of the key factors contributing to Fanatics Sportsbook’s success in New York is its user-friendly interface. The platform is easy to navigate, making it simple for users to place bets on their favorite teams and events. Additionally, Fanatics Sportsbook offers a wide range of betting options, including traditional moneyline bets, point spreads, and over/under bets, as well as more unique options like player props and live betting.
Another factor that has contributed to Fanatics Sportsbook’s success in New York is its competitive odds. The platform consistently offers some of the best odds in the industry, giving users the opportunity to maximize their winnings on every bet. This has helped Fanatics Sportsbook attract a large number of users in a short amount of time.
In addition to its user-friendly interface and competitive odds, Fanatics Sportsbook has also been praised for its customer service. The platform offers 24/7 customer support via live chat, email, and phone, ensuring that users can get help with any issues or questions they may have. This level of customer service has helped Fanatics Sportsbook build a loyal user base in New York.
Overall, Fanatics Sportsbook’s performance in New York during its first two weeks has been impressive. The platform’s user-friendly interface, competitive odds, and top-notch customer service have helped it quickly establish itself as a leader in the state’s sports betting market. As Fanatics Sportsbook continues to grow and expand its offerings, it is likely to become an even more popular choice among sports fans in New York.
