Sports betting and online casino performance round-up (January 5)
All of the latest figures released by regulators recently, including from New York, Colorado, and Delaware
ESPN Bet shakes up Ohio sports betting
ESPN Bet made a dent in the established order of the Buckeye State by overtaking the likes of BetMGM, bet365, Caesars Sportsbook, and Fanatics to snatch the bronze medal position in November 2023, according to the latest monthly numbers released by the state regulator.
The PENN Entertainment-powered ESPN Bet generated $70.8m in handle in the penultimate month of the year despite only launching on November 14. This might be partly because it spent $29m on promotional credits, which was almost three times as much as the next highest, DraftKings with $10.5m.
EPSN Bet achieved revenue of almost $12m, which compared to FanDuel with $21m and DraftKings with $22.5m.
Online sports betting handle totaled $841.1m, with FanDuel and DraftKings remaining the clear leaders in the state. FanDuel slightly beat out DraftKings for the top spot as the Flutter Entertainment-owned operator took in $293.3m in handle, while its Boston-headquartered rival generated $275.8m in November.
Virginia posts consecutive monthly sports betting handle record in November
The Virginia Lottery reported a record $632.2m in online sports betting handle for November. This was the second consecutive month that the Old Dominion State achieved a record amount for bets staked. This figure was a 12% rise on the $571.4m handle for October and was a 23% year-on-year (YOY) increase. November’s figure meant it was the ninth state to post more than $600m in monthly handle since the repeal of PASPA in 2018.
In November, 10 operators posted net positive adjusted gross revenue, which meant the state received total taxes of $5.5m for the month, which was split between $5.3m being taken for the general fund allocation and $137,013.80 for problem gambling and support fund allocation.
Colorado becomes 10th state to eclipse $600m in handle for a single month
Colorado joined Virginia in generating more than $600m handle for a month (November) and, in doing so, became the 10th state to achieve this milestone.
In figures released by the Colorado Division of Gaming, the state’s online sportsbooks took in an all-time monthly high of $602.3m in sports betting handle. The previous record for the state was back in January 2022 with $537.7m.
Operators’ combined online net sports betting proceeds amounted to $13.6m, which equated to a hold of 4.7%.
Pro football was the most bet-on sport, with $149.3m online wagered in November. Basketball was a close second with $141.8m and NCAA football took the bronze medal position with $51.5m staked on mobile.
New York hits new monthly high for net revenue
The Empire State set a new record for net revenue in the final month of the year with $188.3m for mobile, while the state handle fell just shy of November’s all-time high at $2bn for December.
Although handle fell by 3.2% month-on-month in December, it was 25.7% higher than the $1.62bn wagered in December 2022.
December was the third month in a row that handle in New York state had surpassed the $2bn mark, becoming the first US state to reach this landmark figure in October.
FanDuel continued to lead the way after posting a handle of $834.5m and returning $93.6m in revenue.
DraftKings had to settle for second place with a handle of $773.4m and revenue of $65.2m. Caesars was third with $202m in bets accepted and revenue of $15.9m.
Delaware igaming revenue rises as state debuts online sports betting
Delaware igaming net revenue rose 13% year on year in November, reaching $1.1m, up from $982,919 posted in October 2023.
Breaking this figure down by vertical, $900,418 came from online video lottery games, $188,050 from online table games, and $27,170 from poker rake and fees.
The overall bet on igaming for November totaled $32.1m, which was just over a 5% rise on the $30.5m for October.
Delaware Park was the highest-grossing operator, taking $452,554 in net revenue from $11.9m in wagers. Bally’s Dover was in second spot with $384,111 from $9.3m staked, and Harrington Raceway was third with $278,973 of net revenue from $11m of bets.
These figures come as Delaware Lottery debuted its first online sportsbook this month, becoming the 29th US state with digital wagering, as well as relaunching its three online casinos powered by Rush Street Interactive.