DraftKings has outperformed FanDuel on sports betting volume in New York for the first time, handling $488.5m in June wagers.
DraftKings has outperformed FanDuel on sports betting volume in New York for the first time, handling $488.5m in June wagers while accounting for 42% of all mobile bets in the state.
Compared to June 2022, DraftKings experienced a remarkable 81% increase in handle, according to recent data published by the New York State Gaming Commission.
Analysts have pointed to DraftKings’ robust performance in New York as one of the key factors contributing to the company’s recent gains on the stock market.
FanDuel, on the other hand, experienced a decline in handle compared to the previous year.
In June, the company recorded total handle of $418.1m in New York, representing a 13% drop on June 2022 and a 34% decline on the previous month.
FanDuel now holds a 36% handle share of the market, trailing behind DraftKings. Caesars was the only other online sports betting operator to achieve a double-digit market share.
In June, Caesars carved out an 11% share based on handle of $124.8m.
FanDuel maintains GGR lead
FanDuel continued to hold the top spot for market share based on revenue, reporting GGR of $47.2m last month. This did represent a decline of 38% from May, however.
DraftKings meanwhile recorded $37.1m in GGR, a decrease of almost 22% compared to May.
Total handle drops
In total, New York sportsbooks generated $103.8m of GGR in June.
Additionally, the state’s total online betting handle reached $1.16bn, representing an 11% increase year-on-year.
However, the June figures reflect a month-on-month decrease of nearly 17%.
June is generally considered a slower month in the US sports betting calendar, with fewer events taking place.
However, popular options such as professional baseball, tennis and golf betting tend to attract significant attention during the summer months, particularly in the absence of NFL betting.