The weekly report on sports betting in New York showed two major milestones in the state had been achieved.
FanDuel NY, the runaway leader among operators, surpassed the $5 billion mark in handle and the state’s Gross Gaming Revenue jumped above $1 billion.
Those figures came with Thursday’s report by the New York State Gaming Commission (NYGSC).
Despite the Yankees and Mets taking early exits from Major League Baseball’s playoffs earlier this month, NY betting apps posted more than $365.67 million in total mobile sports wagering handle for the week ending Oct. 23.
The mark was an increase of more than $42.67 million from the previous week ($323 million). It also is the largest amount since more than $427.97 million was reported for the week ending March 20, which included the first and second rounds of the NCAA Men’s College Basketball Tournament.
Overall, the handle is the seventh highest since the state's official launch Jan. 8.
Weeks Above $300M Continue
For the fifth consecutive week, and sixth of the last seven, the mobile sports wagering handle was more than $300 million. The handle number has risen above $300 million 22 times since the state launched legalized sports wagering Jan. 8.
Even though the GGR for the state eclipsed the $1 billion mark ($1,027,793,718), it actually decreased from the week before to $33.596 million. This is the second consecutive week the GGR has decreased since $42.97 million (second-biggest figure since launch) was recorded for the week ending Oct. 9.
More than $17.13 million in state taxes was collected by Albany. New York taxes sports betting at 51%. That is tied with New Hampshire as the highest rate in the United States.
EmpireStakes.com stays on top of revenue in the state, in addition to other issues in sports wagering. You also need to watch this site for the best New York sportsbook promo codes.
FanDuel Still No. 1 by Far
With a weekly recording of $145.5 million, FanDuel exceeded the $5 billion mark in total handle since launch Jan. 8 ($5,057,923,726). It was FanDuel’s highest handle mark since $167.93 million was posted for the week ending March 20. The number also marked the eighth consecutive week in excess of $100 million and helped FanDuel eclipse $500 million for the month itself.
FanDuel’s weekly GGR registered at more than $15.21 million, down from $20.23 million the previous week. Since launch, FanDuel’s total GGR is more than $483.39 million and taxes to the state have eclipsed $246.53 million.
DraftKings NY posted more than $126.84 million in total mobile handle, its second highest ever since $131.05 million was registered for the week ending Jan. 23. Its GGR was more than $10.84 million. Since launch, DraftKings has more than $3.379 billion in total handle, more than $256.41 million in total GGR and more than $130.77 million in state taxes.
Caesars NY recorded more than $45.94 million in total mobile handle, its highest since $52.02 was posted for the week ending May 8. To date, Caesars has handled more than $2.335 billion, has $178.74 million in total GGR and $91.15 million in taxes to Albany.
BetMGM NY ($24.79 million handle, $1.83 million GGR) and BetRivers ($9.65 million handle, $633,600 GGR) rounded out the weekly top five.
Since mobile betting launched, the nine operators combined have accounted for $12.629 billion in handle, more than $1.027 billion in GGR and more than $524.17 million in taxes to the state.
It probably doesn't hurt in New York NFL betting that the Giants and Jets have had very successful starts. The Buffalo Bills, of course, were expected to contend.