NY Sports Betting Revenue: A Little Less Madness Shows in Figures

NY Sports Betting Revenue: A Little Less Madness Shows in Figures

By Lou Monaco

Fact Checked by Pat McLoone

What a difference a week makes!

One week after posting one of the state’s largest weekly total mobile sports wagering handles of $427.97 million, last week turned out to be a comparative March Sadness for New York sports betting operators.

For the week of March 21-27, New York bettors wagered about $100 million less than the previous week. The handle was posted at $327.84 million combined for the state’s eight online operators, an exact decrease of $100,135,253 after the New York State Gaming Commission (NYSGC) released official weekly numbers on Friday.

The state’s weekly total handle was the lowest for a complete week since mobile launched on Jan. 8 and the lowest recorded since the first two days of official figures reporting by the NYSGC among the Empire State’s initial four live mobile operators for Jan. 8-9 ($171,298,257).

Total Gross Gaming Revenue (GGR) for the state posted at $13.93 million, its second consecutive weekly decrease from $26.06 million (March 20) and $36.88 million (March 13). The GGR has decreased a total of $22.95 million over the past two weeks.

The Sweet 16 and Elite Eight action for the NCAA Men’s Basketball Tournament began in full force from March 24-27.

The monstrous weekly figure of $427.97 million for the week ending March 20 came off the first four days of the tournament, when many more games were played.

Each of the state’s live eight mobile providers showed decreases in total handle and GGR for the week.

NEW YORK MOBILE SPORTS BETTING, MARCH 21-27

Mobile handle GGR
FanDuel $133,100,095 $9,530,287
DraftKings $83,046,206 $1,859,707
Caesars $56,915,566 $2,277,522
BetMGM $36,354,194 minus-$432,577
BetRivers $8,040,398 minus-$48,365
PointsBet $7,297,398 $460,360
WynnBet $1,973,837 $193,592
Resorts World $1,108,773 $87,231
Totals $327,836,467 $13,927,758

A LOOK AT HOW TOP FOUR PROVIDERS FARED

FanDuel Sportsbook New York handled its fourth-lowest number since launch ($133.1 million), down from $167.95 million a week earlier, but still remained on top to retain weekly honors. Its weekly GGR was $9.53 million, down from $14.67 million a week prior.

To date, FanDuel continues to dominate the New York market, handling $1.69 billion, with a revenue of $110 million and taxes to the state at $56.1 million.

DraftKings Sportsbook New York posted its lowest handle since the first two days of launch ($38.5 million), coming in at $83 million. The number was down a whopping $27.8 million from the previous week ($110.84 million, which was its third largest to date). Its weekly GGR was $1.86 million, down from $3.31 million and its lowest ever since launch.

To date, DraftKings has had $1.15 billion in total handle, $79.1 million in GGR and $40.34 million in taxes to the state.

Caesars Sportsbook New York finished third once again with a weekly total handle of $56.92 million, down from $67.76 million for the week prior. Its weekly GGR registered at $2.28 million, its lowest since launch and down from $4.35 million from the week ending March 20.

To date, Caesars is the third provider to handle more than $1 billion ($1.2 billion). It has generated a total GGR of $98.4 million and $50.18 million in taxes to Albany.

BetMGM finished fourth for the week, posting $36.35 million, down from $43 million. Its total GGR was in the red at minus-$432,577, down from $1,589,234 a week earlier.

To date, BetMGM has handled $391.26 million in the state with $11.77 million in revenue and $6 million in taxes.

The other online operators in New York are BetRivers New York, PointsBet New York, WynnBet New York and Resorts World New York. Bally Bet, the final of the nine mobile providers, is expected to launch sometime this month.

All New York online sports wagering operators since the launch of mobile sports betting on Jan. 8 have had a cumulative handle of $4.68 billion and a GGR of more $314.55 million. New York has a 51% tax rate and the state has collected more than $160.4 million in taxes.

For all updates and the best New York sports betting promo codes, refer to EmpireStakes.com.

CUMULATIVE TOTALS, JAN. 8-MARCH 27

Mobile handle GGRTaxes
FanDuel $1,689,810,199 $110,012,341 $56,106,294
Caesars $1,200,309,806 $98,398,278 $50,183,122
DraftKings $1,146,480,314 $79,101,231 $40,341,628
BetMGM $391,256,490 $11,771,752 $6,003,594
PointsBet $128,127,049 $8,360,625 $4,263,919
BetRivers $108,082,273 $4,609,306 $2,350,746
WynnBet $13,789,025 $1,844,451 $940,670
Resorts World $4,524,603 $453,470 $231,270
Totals $4,682,379,757 $314,551,455 $160,421,242
quote
WRITTEN BY
EmpireStakes.com
Lou Monaco
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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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.
... Read More