On the six-month anniversary of legalized New York online sports betting launching, the Empire State recorded its sixth consecutive month of more than $1 billion in total handle.
However, June is the lowest of the six months in total handle and Gross Gaming Revenue (GGR), as official numbers were reported Friday by the New York State Gaming Commission (NYSGC).
The state’s total handle in June was more than $1.05 billion, down 16.8% from May’s $1.26 billion. Its total GGR posted at more than $72.42 million, down 34% from May’s $109.78M.
Here are the monthly figures so far:
- January: $1,669,719,034
- February: $1,527,568,253
- March: $1,638,266,833
- April: $1,390,777,875
- May: $1,263,484,474
The June figure is at $1.05 billion but will not be official until retail is added. The June retail numbers were not released.
Tax collected in the state for June was more than $36.93 million. New York, of course, has a 51% tax rate, tied for highest in the nation with New Hampshire.
New York’s total numbers for net revenue to platform provider ($35.48 million) and net revenue to education ($36.93 million) were also its lowest numbers to date.
Since launch Jan. 8, the state has taken in more than $3.7 billion in total handle and more than $286.35 million in total GGR.
Next month will include revenue from the latest operator, Bally Bet NY, which started taking bets July 7. Bally became the last of the nine legalized operators to launch in New York.
"The recent launch of New York's final sports wagering operator will provide key revenue for education, youth sports programs, and problem gambling support,” Gov. Kathy Hochul said in a news release.
Added State Senator Joseph P. Addabbo, Jr: “With Bally Bet now coming online, there will be even more competition in this growing market.”
FanDuel Tops Again in Monthly Provider Total Handle, GGR
FanDuel Sportsbook NY posted more than $472.88 million in total handle, which is $202.67 million more than the second-ranked monthly provider. That is its lowest month to date. Its total GGR posted at $39.55 million, its lowest since $23.16 million in February.
DraftKings Sportsbook NY posted $270.2 million in total handle, its lowest since launch on Jan. 8. Its total GGR registered at $16.43 million, its lowest-ever.
Caesars Sportsbook NY placed third with a total handle of $156.37 million, its fifth consecutive drop since its January number of $627.40 million. Its GGR was $6.29 million, its third straight decrease since $21.58 million in March.
BetMGM Sportsbook NY placed fourth in total handle at $92.43 million, its second lowest figure since $82.20 million in January, which makes sense since it didn’t start until Jan 17. Its total GGR was $6.32 million, a $1.53 million decrease from $7.9 million in May.
Rush Street Interactive’s BetRivers Sportsbook NY rounded out the top five with $25.3 million in total handle. Its total GGR posted at $1.799 million, a tad below $1.8 million posted in May.
The summer months of June-July-August usually show lulls in sports wagering with lesser options to choose from and with more bettors taking advantage of the outdoors. However, this summer, it looks as if the nation’s struggling economy and the higher costs of daily life are now part of the betting landscape as more customers have less money to wager and keeping their money in their wallets or accounts.
