New York Sets Record with Massive $2.3 Billion October Handle

The Empire State just finished its busiest sports betting month in history.

This week, the New York State Gaming Commission reported a record-high $2.3 billion sports betting handle for October. That breaks the previous record of $2.1 million set in November 2023. No other US sports betting market has broken the $2 billion mark, showing how large New York’s has become.

While the handle was historic, customers won at a higher percentage than the previous month. That led to sportsbooks making over 14% less than in September. 

MLB Playoffs Boosted Numbers

While the NFL is king when it comes to sports betting in the fall, baseball played a significant role in New York’s record-setting October. The New York Mets and Yankees both made the postseason, leading to an influx in bets from their legions of fans.

Both of the Empire State’s teams made deep runs into the postseason, adding almost a full month of postseason bets. The Mets were eliminated in Game 6 of the NLCS, while the Yankees advanced all the way to the World Series. 

The extra month of New York baseball, combined with the start of the NFL season, gave bettors plenty of reason to place wagers.

FanDuel Leads Market

FanDuel Sportsbook once again led the market in October with a handle of $907.6 million, followed by DraftKings at $813.7 million. The two industry giants have been battling in the country’s largest market, but FanDuel continued its run at the top.

The biggest surprise came behind the two giants, with Fanatics finishing in third place. While $178.4 million is far behind the two leaders, finishing ahead of BetMGM and Caesars represents a massive victory. The operator has struggled to capture market share in the US but appears to be making major headway with New York bettors. 

ESPN Bet Stumbles Out of the Gate

October marked the first full month that Penn Entertainment’s ESPN Bet was available in New York. The operator had a quiet month with a handle of just $40 million. That puts them towards the bottom of the pecking order, beating out small platforms like Resorts World Bet and Bally Bet.

While Penn hoped for a better start, it is taking a long-term approach to the massive sports betting market. The company also shared that it saw twice as many early deposits as in other states, a promising sign for the future.