9-Day Mobile New York Sports Betting Handle Already Surpasses $600 Million

9-Day Mobile New York Sports Betting Handle Already Surpasses $600 Million

By Lou Monaco

After the first two weeks of mobile New York sports betting, the numbers are officially out of this world.

The New York State Gaming Commission (NYSGC) on Friday announced weekly totals on the launch of mobile sports betting in the state since it went live on Jan. 8 with an overall handle topping $603 million in just nine days.

This includes results from just four mobile operators: Caesars Sportsbook New York, DraftKings New York, FanDuel New York and BetRivers New York.

Caesars NY, with aggressive promotions for new bettors in the Empire State, had the best start of the operators with just under $258 million in handle over the first nine days. This was despite having some technical issues according to users who expressed their frustration on social media.

“We’re thrilled with the initial numbers reported by the New York State Gaming Commission [Friday] showing Caesars Sportsbook as No. 1 in market share among mobile sports betting operators in the Empire State,” Chris Holdren, co-president of Caesars Digital, said in a news release. “New Yorkers are one-of-a-kind in their passion for sports and their interest in mobile sports wagering has proven to be an unprecedented moment for this industry. As excited as we are, our work is just getting started to provide New York sports fans the best sports betting experience in the market and we’ve appreciated customer feedback as we’ve worked to improve their experience since launch.

"We know there is room to perfect our service offering in order to provide a product that exceeds expectations and we’re in New York for the long haul to do just that.”


Breaking the NY Sports Betting Numbers Down

From Jan. 8-16, those four sportsbook operators in the mobile New York sports betting market had a sports betting handle of, ready for this: $603,053,836.

The total Gross Gaming Revenue (GGR) from the four was $48,224,783.

Mobile sports wagering GGR is taxed at 51%, resulting in $24,594,639.33 in taxes for the state.

A fifth operator, BetMGM New York , launched on Jan. 17 and is not included.

Four more operators (PointsBet New York, WynnBET New York, BallyBet New York and Resorts World New York) have yet to receive the thumbs up to go live by the NYSGC. That approval could come as soon as early next week and certainly is expected before the Super Bowl, which will be played Feb. 13 at SoFi Stadium in Inglewood, Calif.

For the best and most updated New York sports betting promo codes, make sure you often check out EmpireStakes.com.

NEW YORK MOBILE SPORTS BETTING, JAN. 8-16

Mobile handle GGRTaxes
Caesars$257,651,199$22,714,739$11,584,516
FanDuel $200,351,886 $14,140,799$7,211,807
DraftKings $134,417,078 $10,922,549$5,570,499
BetRivers $10,633,673 $446,696$227,814
Totals $603,053,836 $48,224,783 $24,594,636


How Each of 4 Operators Fared

Here is a breakdown of the numbers:

Caesars had the largest mobile handle of the four at $257.65 million ($67,420,615 on opening weekend and $190,230,584 from Jan. 10-16). Its GGR was at $22.71 million, $8.58 million on opening weekend and $14.13 million from Jan. 10-16.

FanDuel New York was the only other operator to handle more than $200 million, coming in at $200.35 million ($63.23 million on opening weekend and skyrocketed to $137.1 million from Jan. 10-16). It’s GGR was $14.14 million (-$2.72 million opening weekend and then shot up to $16.86 million from Jan. 10-16).

DraftKings NY had a mobile handle of $134.417 million ($38.5 million on opening weekend and $95.9 million from Jan. 10-16). Its GGR came in just shy of $11 million at $10.92 million ($7 million on opening weekend and $3.89 million from Jan. 10-16).

BetRivers New York rounded out the four with a mobile handle of $10.63 million ($2.13 million opening weekend and jumped to $8.49 million from Jan. 10-16). It’s GGR was $446,696 ($517,129 on opening weekend and -$70,433 from Jan. 10-16).

Gross Gaming Revenue in the Empire State is taxed at 51%. That tax rate is the highest in the nation, along with New Hampshire.


Record Tax Revenue Is Coming

It's likely the tax revenue figure is already a record for a state and it's only nine days. Most states never see $24 million in taxes in a month. The 51% tax rate is a big factor there, for sure.

New York is the fourth-most populated state in the nation but it is the biggest to begin mobile sports betting. The top three states in population (California, Texas and Florida) do not currently have sports betting of any kind. Before mobile launch this month, New York did have sports betting at four upstate casinos.

Now, keep this in mind: The state handle reported here is above $600 million and two weekend of NFL playoff football remain this month, with the NFC and AFC semifinals this weekend and the NFC and AFC titles the following weekend. (The best New York NFL betting sites also are on EmpireStakes.com.

Plus, there will be at least one added operator.

The monthly record for handle is held by New Jersey, with $1.3 billion, in October 2021. The state has topped $1 billion four consecutive months. And that figure combines both mobile and retail.

New York seems well on its way to be No. 1 in that category, as well.

Out of this world, indeed.

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WRITTEN BY
EmpireStakes.com
Lou Monaco
Lou Monaco had been East Coast Scene columnist for Gaming Today in Las Vegas since June 2019, covering the East Coast sportsbook scene with emphasis on NJ and PA. He also currently is a part-time writer for the high school sports department for NJ Advanced Media (NJ.com) in Iselin, NJ. Lou has over 30 years sports experience with previous stints at ESPN SportsTicker, Daily Racing Form and Oddschecker.
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Lou Monaco had been East Coast Scene columnist for Gaming Today in Las Vegas since June 2019, covering the East Coast sportsbook scene with emphasis on NJ and PA. He also currently is a part-time writer for the high school sports department for NJ Advanced Media (NJ.com) in Iselin, NJ. Lou has over 30 years sports experience with previous stints at ESPN SportsTicker, Daily Racing Form and Oddschecker.
... Read More