New York Sports Betting Handle Drops To $1.47B In February

Football season is officially over. 
 
Not just because Aaron Rodgers can't make up his mind if he wants to go to the New York Jets or not, but because official February monthly mobile New York sports betting figures are out.

The numbers were released late Monday by the New York State Gaming Commission (NYSGC). 
 
After a huge January, the Empire State came back to earth, handling more than $1.466 billion in mobile bets, a $322.03 million decrease (18%) from last month's state and national record of more than $1.788 billion. The number was the lowest since more than $1.256 billion was recorded last September. 
 
It also was down 4% from February 2022 (more than $1.527 billion). Don’t read much into that, though, as February still had the newness of being the first full mobile month since the state launched early in January 2022.

Plus, the March number was already off to a nice start, judging by last week’s handle and the upcoming NCAA Tournament, with its March Madness promo codes. 

The state’s total Gross Gaming Revenue (GGR) generated more than $108.28 million, a sharp 27.5% decrease of more than $41.14 million from January's record-breaking $149.43 million. However, it was actually up a solid 31.4% from February 2022 (more than $82.39 million).

Albany might not be too happy with the tax collection in February: $53,058,151, a $23.14 million drop from January's $76.2 million. 
 
New York sports betting apps are taxed at 51%, which is tied with New Hampshire for the highest figure in the United States.

The net revenue to the platform provider was more than $53.05 million and net revenue to education was more than $55.22 million.

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Most Operators Come Up Short

The shortest month of the year was evident as eight of New York's nine mobile providers experienced decreases in mobile handle.

The winner for the month: BallyBet NY, which recorded more than $1.2 million, its largest since more than $1.47 million was recorded in October 2022 and the fourth time it has gone above $1 million since the company became part of the official reports in July 2022.

The top five February mobile handles by operator: 1: FanDuel Sportsbook NY ($591,049,764); 2: DraftKings Sportsbook NY ($491,299,315; 3: Caesars Sportsbook NY ($192,792,563); 4: BetMGM Sportsbook NY ($107,686,010) and 5: BetRivers Sportsbook NY ($37,575,375).

Four of the nine (BetMGM, WynnBET NY, Resorts World Bet BY and BetRivers)  had  increases in total mobile GGR for the month.

The top five February mobile GGR by operator: 1: FanDuel ($53,511,728); 2: DraftKings ($33,484,329); 3: Caesars ($8,484,065); 4: BetMGM ($7,539,737) and 5: BetRivers ($2,432,925).

EmpireStakes.com will keep you up to date on handle and revenue figures for wagering in the state.