DraftKings, Caesars Hit Milestones in New York Sports Betting

DraftKings, Caesars Hit Milestones in New York Sports Betting
By Lou Monaco
Fact Checked by Pat McLoone

What a difference a week makes.

Just seven days after online NY sportsbooks posted more than $400 million in total sports wagering handle, the number dropped by more than $54 million.

Those official figures were released Thursday by the New York State Gaming Commission (NYSGC) for the week ending Dec. 4.

More than $375.73 million was handled by nine mobile sportsbooks in the Empire State, a significant decline from more than $429.26 million a week earlier.

More than $31.8 million in total Gross Gaming Revenue (GGR) was generated by the state, a slight decline from the $34.64 million reported for the week ending Nov. 27.

Two highlights from Thursday’s report:

  • DraftKings Sportsbook NY surpassed $4 billion in total handle
  • Caesars Sportsbook NY went over $200 million in total GGR

Both entities were among the four New York sports betting apps (now nine) that launched 11 months ago on Jan. 8.

The weekly tax intake for the state was more than $16.22 million, a modest decline of more than $1.44 million from the previous week.

New York has a 51% tax rate, which is tied with New Hampshire for the highest in the United States.

In addition to keeping close tabs on revenue reports, EmpireStakes.com also provides the best NY betting promos.

New York Mobile Sports Betting, Nov. 28-Dec. 4

Mobile handle GGR
FanDuel $151,714,670 $19,035,763
DraftKings $124,808,357 $8,417,205
Caesars $50,676,211 $2,454,583
BetMGM $26,350,269 $1,316,536
BetRivers $10,586,754 $96,239
PointsBet $7,840,265 $323,273
WynnBet $2,289,797 $122,494
Resorts World $1,350,802 $31,910
Bally Bet $115,044 $11,336
Totals $375,732,170 $31,809,340

Eight of Nine Sportsbooks Decline in Weekly Handle

For the start of the final month of the year, eight of the nine mobile sportsbooks in the state showed weekly declines in total handle, with just four showing slight increases in total GGR.

Resorts World Sportsbook New York was the lone increase in weekly handle. It went up $13,066 from $1.33 million to more than $1.35 million.

FanDuel Sportsbook NY, Bally Bet Sportsbook NY, WynnBet Sportsbook NY and PointsBet Sportsbook NY showed increases in their weekly total GGRs.

FanDuel, the state’s No. 1 mobile provider week in and week out, had a $29.5 million decrease ($151.71 million) from its highest-ever handle of more than $181.21 million a week earlier. To date, FanDuel is inching closer to the $6 billion mark in total handle (having generated $5.958 billion), more than $596.87 million in total GGR and more than $304.4 million in state taxes.

DraftKings Sportsbook NY had a $10.31 million decrease ($124.81 million) in total handle from $135.12 reported a week earlier. To date, the Boston-based mobile provider has totaled more than $4.090 billion in total handle, $315.56 million in total GGR and $160.93 million in state taxes.

Caesars Sportsbook NY showed a modest $5.46 million decrease ($50.68 million) from $56.15 million a week earlier, its highest mark since the week ending March 27. To date, Caesars has generated more than $2.617 billion in total handle, $200.64 million in total GGR and crossed over the $100 million threshold for state taxes at more than $102.33 million to Albany.

BetMGM Sportsbook NY posted more than $26.35 million in total handle, a slight $3.52 million drop from $29.87 million a week before (its highest total since $30.01 million for the week ending May 15). Since launch, BetMGM has generated more than $1.243 billion in total handle, over $72.35 million in total GGR and close to the $40 million mark in state taxes.

On the 11-month anniversary of launching in the state, mobile sports betting has generated more than $14.816 billion in total handle, $1.239 billion in total GGR and $632.30 million in state taxes to Albany.

Cumulative Totals, Jan. 8-Dec. 4

 
Mobile handle GGRTaxes
FanDuel $5,958,339,868 $596,877,946$304,407,752
DraftKings$4,090,314,354$315,561,521$160,936,376
Caesars $2,617,432,049 $200,640,454 $102,326,632
BetMGM $1,243,185,325 $72,351,352 $36,899,190
PointsBet $388,285,653 $25,159,382 $12,831,285
BetRivers $376,129,201 $20,435,305 $10,422,006
WynnBet $84,878,653 $5,836,741 $2,976,738
Resorts World $52,861,219 $2,652,514 $1,352,782
Bally Bet $5,146,181 $299,207 $152,596
Totals$14,816,572,502 $1,239,814,422 $632,305,355

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Contributors

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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