New updates on the New York state betting market show that Flutter-owned company FanDuel continues to lead the market. The recent report shows that the company holds a 43% share of the New York betting market.
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Furthermore, it has been clarified that the company, which is owned by Flutter Entertainment, has a 48% revenue share on the New York betting market. In view of this, it is worth mentioning that the second position is in the hands of DrafKings, which operates with a 25% market share, and still has a 23% share of revenue.
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To close the podium of companies, Caesars appears in third place. According to the report, Caesars has a 16% share of the New York betting market. In addition, we must mention the participation of BetMGM, which has been outstanding in its participation in recent weeks.
Meanwhile, companies like PointsBet, WynnBet and BetRivers, own just 1% of the revenue of the New York betting market. Additionally, Resorts World Bet appeared with a 0.4% share.
All the companies together have already contributed with a movement of US$ 37 million in the last week, with the total revenue. Thus, there is information that the betting market in New York grew 12% over the course of the days.
Finally, it was clarified that so far the state of New York has a total revenue of US$ 406 million from gambling games, and should reach a total of US$ 3.9 billion.
New York hits $1.5 billion with bets in February
It is worth mentioning that the state of New York hit US$ 1.5 billion with the betting market in February 2022. The informative report was revealed by PlayNY, which pointed out the amount generated by the betting market.
Commenting on this, PlayNY Chief Analyst Mike Mazzeo noted that, despite a 12% drop compared to January, February was still quite positive. However, the chief analyst still pointed out, “As big as the Super Bowl is, it is still just one game. And a slowdown in the immediate aftermath of the game is to be expected everywhere. The mild pullback won’t last long, though. The NCAA Tournament is the nation’s largest sports betting holiday, and that presents a huge customer acquisition opportunity for sportsbooks.”
Meanwhile, PlayUSA and PlayNY analyst Eric Ramsey said: “A modest pullback was expected in February, and it shouldn’t diminish what we have seen so far in New York. In less than two months, New York sportsbooks have generated more than $3 billion in wagers. That is a result that would have been difficult to fathom before January.”
Flutter Entertainment
Sports betting company, Flutter Entertainment, is based in Dublin, Ireland, and operates in a variety of financial markets. The company was created through a merger between Paddy Power and Betfair, where it was later bought by The Stars Group.
The company is currently listed on the London Stock Exchange with the FTSE 100 index. Among its brands, the company has kept the Betfair brand alive, which is considered the biggest sportsbook on the Exchange market.
Among other brands, the Flutter company also owns the PokerStars brand, the largest virtual poker house in the world. As such, the complete list of their brands is extensive, including ownership of the company FanDuel. Among other well-known names in the sports betting field, you can find the following brands that are subsidized by Flutter: Adjarabet, BetEasy, Betfair, FanDuel, Fox Bet, Full Tilt Poker, Paddy Power, PokerStars, Sky Bet, Sportsbet.com.au, Timeform and TVG Network.
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