Revenue Low in NY Sports Wagering as Bettors Had Good Week

Revenue Low in NY Sports Wagering as Bettors Had Good Week
By Lou Monaco
Fact Checked by Pat McLoone

Mobile NY sportsbooks enjoyed a week-over-week increase of nearly $17 million in handle, but bettors in the state were cashing, just in time for that last-minute holiday shopping.

All of that was evident as official figures were released Thursday by the New York State Gaming Commission (NYSGC) for the week ending Dec. 18.

Nine New York sports apps had more than $359.56 million in total mobile handle, which was a $16.99 million increase from the week before ($342.58 million).

However, the total Gross Gaming Revenue (GGR) of a little less than $10 million was the second lowest ever by the sportsbooks since the state’s official launch.

Weekly state tax registered at more than $5.09 million, a considerable $17.5 million decrease from $22.69 million the previous week.

New York has a 51% tax rate, tied with New Hampshire, for the highest in the nation.

Since the legalized launch on Jan. 8, mobile sports wagering has generated more than $15.518 billion in total handle, $1.294 billion in total GGR and $660.35 million in state taxes.

For timely coverage of state sports betting revenue reports, as well as the best NY betting promos, follow EmpireStakes.com.

New York Mobile Sports Betting, Dec. 12-18

Mobile handle GGR
FanDuel $143,741,376 $3,994,316
DraftKings $120,798,094 $2,955,043
Caesars $45,593,401 $1,509,762
BetMGM $27,030,099 $1,365,336
BetRivers $9,584,101 $310,696
PointsBet $9,016,654 Minus-$242,417
WynnBet $2,278,496 $99,434
Resorts World $1,371,764 Minus-$7,897
Bally Bet $155,404 $3,915
Totals $359,569,388 $9,988,187

Closer Look at the Sportsbooks

Eight mobile providers had mild weekly increases in total handle, with Rush Street Interactive’s NY Bet Rivers the lone one to post decreases in both handle and total GGR.

Eight of the nine had solid decreases in total mobile GGR with the exception of WynnBet NY, which notched mild increases in both handle and GGR.

Three weekly handle highlights include:

  • DraftKings Sportsbook NY recording a $10.53 million increase ($120.8 million) from $110.26 million.
  • BetMGM Sportsbook NY posting more than $27.03 million, a nice $3.29 million bump from $23.76 million.
  • Resorts World Bet handling more than $1.37 million, its highest since $1.43 million for the week ending Nov. 13.

The top five handles for the week: FanDuel NY ($143.74 million), DraftKings NY ($120.8 million), Caesars Sportsbook NY ($45.59 million), BetMGM NY ($27.03 million) and NY BetRivers ($9.58 million).

PointsBet was knocking on the top five leaderboard with more than $9 million.

Since launch, the top four largest handle generators are: FanDuel NY ($6.243 billion), DraftKings ($4.321 billion), Caesars ($2.708 billion) and BetMGM ($1.294 billion).

The next weekly report will be announced on Thursday, Dec. 29 (for the week ending Christmas Day).

Cumulative Totals, Jan. 8-Dec. 18

 
Mobile handle GGRTaxes
FanDuel $6,243,144,729 $621,659,567$317,046,379
DraftKings$4,321,375,440$332,317,433$169,481,891
Caesars $2,708,419,177 $207,981,741 $106,070,688
BetMGM $1,293,951,348 $76,640,546 $39,086,678
PointsBet $405,952,175 $25,568,100 $13,039,731
BetRivers $395,519,970 $21,514,733 $10,972,514
WynnBet $89,398,283 $5,985,347 $3,052,527
Resorts World $55,502,094 $2,823,705 $1,440,090
Bally Bet $5,456,412 $317,173 $161,758
Totals$15,518,719,627 $1,294,808,345 $660,352,256

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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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