New York Sports Betting in May: Handle Down, Revenue Up

New York Sports Betting in May: Handle Down, Revenue Up
By Lou Monaco
Fact Checked by Pat McLoone

The month of May in New York sports betting showed a slight drop in total mobile sports wagering handle but a slight uptick of more than a $5.6 million in total Gross Gaming Revenue (GGR).

Those are the big numbers as May numbers were released Thursday afternoon, a day earlier than usual, by the New York State Gaming Commission (NYSGC).

Weekly numbers, for the week ending June 5, also were released.

The Empire State registered more than $1.26 billion - its lowest thus far this year - in total monthly handle. That is a decrease of more than $127.29 million from April’s mark of $1.39 billion.

The state has registered well over $1 billion in total handle in each of the five months of official mobile sports wagering reports.

New York Sports Betting, May vs. April 

 
Total handle Mobile handleRevenue
May  $1.270B $1.263B $110.418M
April  $1.397B $1.391B $104.536M
Change  Down 9.1% Down 9.2% Up 5.6%

Gross Gaming Revenue Highest Since March

May’s report showed the state’s highest total GGR since March, posting more than $109.78 million, from April’s $104.14 million.

The number was the largest since more than $114.28 million was posted in March. Five of the eight providers had increases in GGR from April: FanDuel Sportsbook New York, DraftKings Sportsbook New York, BetMGM Sportsbook New York, PointsBet Sportsbook New York and WynnBet Sportsbook New York. 
 
Net revenue to platform providers had a slight increase to more than $53.79 million, more than a $2.7 million increase from April.

The state’s net revenue to education came in at $55.99 million, more than $2.88 million from April’s $53.11 million.

Eight of the state’s nine online sports wagering operators since the launch of mobile sports betting have combined for a handle of more than $7.48 billion and a GGR of more than $541.22 million. 
 
Bally Bet is the lone approved provider that has yet to go live in the state. It has not made clear when it expects to launch.

New York, which shares the nation’s highest tax rate with New Hampshire at 51%, has collected more than $276 million in taxes. 
 
The Top 5 May mobile handles by operators are FanDuel ($552,644,796), DraftKings ($313,590,571), Caesars ($192,662,689), BetMGM ($123,049,903) and PointsBet ($33,792,316). 
 
Out of the eight providers, only two for the month of May saw an increase in total handle from the month before: WynnBet ($9,752,036, a modest increase of $377,609) and Resorts World New York ($6,703,211, an increase of close to $1 million at $921,378).

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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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