Ready for Kickoff: Handle Up 25%, Revenue 40% in Weekly NY Sports Betting

The numbers haven’t even made it to Labor Day, but the message is unmistakable: Football is coming and NY sportsbooks know it.

The numbers for the week ending Sept. 4, released Thursday by the New York State Gaming Commission (NYSGC), show a handle that jumped to $243,034,801, a 25% increase from just a week before.

The handle was the highest in the state since the week ending June 19.

It also forecasts a sure return to the monthly handle in New York rising above $1 billion, as it had for the first six months of the year.

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Gross Gaming Revenue (GGR) took a massive leap this week as well.

The total GGR was announced at $27,504,013. That is a whopping 40% increase from just a week earlier ($19,578,358).

In fact, the weekly revenue figure was the highest in 3½ months. The May 15 figure was close to $31 million.

This was welcome news to the state finance office, as it meant more than $14 million in taxes coming to Albany.

New York taxes sports betting at 51%, joining New Hampshire for the highest rate in the United States.

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A Look at the NY Operators

As expected, with such major upticks in handle and revenue week over week, each operator did well. All nine experienced a boost in handle and eight of nine went up in revenue.

The lone operator that had a drop was PointsBet New York. But the PointsBet revenue number was coming off a huge increase last week and remained at a healthy $333,252.

FanDuel NY was the weekly leader in handle and GGR, as usual.

FanDuel is clearly dominating the New York market, with 40% of market share among nine operators. FanDuel’s cumulative numbers are now at $4.17 billion, out of the state’s overall total of $10.37B.

One operator that really took off this week was BallyBet New York, the last operator to launch in the state.

Bally reported a handle of $369,663. It was the highest handle in its ninth week of reporting and was an 89.5% increase week after week.