October's record-setting sports betting handle was largely driven by the ongoing NFL and college football seasons. Football remains the most popular sport for bettors, with games drawing massive engagement on various platforms.
The timing of the football season, combined with the MLB playoffs, created a perfect storm for sports betting, leading to a significant spike in wagers as the NYC sports betting market continues to dominate nationwide.
FanDuel continues to dominate, recording the highest handle of $907.6 million in October, followed by DraftKings with $813.7 million, showcasing fierce competition among New York's sports betting apps.
Despite the high betting volumes, New York's 51% tax rate on online sports betting impacts overall revenue, demonstrating the challenges sportsbooks face in maximizing profits.
Collection
[
|
...
]