You know what you get in New York sports betting when the Buffalo Bills and New York Giants are eliminated from the NFL Playoffs?
A dramatic drop.
New York's mobile sports betting handle for the week ending Jan. 29 posted more than $344.84 million, a huge decrease of more than $105.89 million from $450.73 million the previous week. Last week’s number was the third-highest handle since online wagering launched Jan. 8, 2022.
The handle and revenue figures were released by the New York State Gaming Commission (NYSGC).
The four-week streak of generating more than $400 million in total mobile handle came to a quick end.
The state's total Gross Gaming Revenue (GGR) posted at more than $27.32 million, a decrease of over $30 million from the week before. Last week’s revenue was a new all-time mark ($57.46 million), easily breaking the record of more than $44.49 million for the week ending Dec. 11, 2022.
With just two days of January reporting remaining, the once promising shot at hitting a record $1.7 billion in monthly handle is in jeopardy.
Weekly tax was more than $13.93 million, a $15.4 million drop from $29.3 million a week ago.
NY betting apps must endure at 51% tax rate, which is tied with New Hampshire for the highest figure in the nation.
Dramatic Drops for Top Three
Only two of the nine providers had mild increases in handle and two in GGR.
BallyBet and NY BetRivers enjoyed increases in handle, with BetRivers eclipsing more than $11.67 million, a $736,946 increase from the state's last report. BetMGM NY and Resorts World NY had mild upticks in GGR.
DraftKings NY had the biggest weekly drop out of the state's top three providers, generating more than $108.68 million in handle, after $152.36 million a week ago. It was the lowest handle mark for DraftKings since the week ending Dec. 25. This came after DraftKings established two records: more than $152.36 million in handle and $20.24 million in GGR the week before.
FanDuel Sportsbook NY, the state's overall leader, handled more than $146.78 million, which marked a $35.6 million drop from its record $182.4 million last week.
Caesars Sportsbook NY posted more than $43 million in total handle, a $14.52 million decrease from the previous week ($57.53 million) to round out the top three.
Since launch, mobile sports betting in the Empire State has generated more than $17.921 billion in handle, almost $1.5 billion in GGR and more than $764.62 million in tax collection.
Have no fear, the Super Bowl is almost near.
EmpireStakes.com will continue to monitor state revenue reports as well as bring you the best NY betting promos.
