So Far in New York Sports Betting, It’s the Haves and the Have Less

So Far in New York Sports Betting, It’s the Haves and the Have Less

By Lou Monaco

Fact Checked by Pat McLoone

The New York State Gaming Commission (NYSGC) released numbers for the week ending March 20 on Monday.

Those numbers showed another solid week for New York sports betting after the first four days of the NCAA Men’s College Basketball Tournament.

Action on March Madness began in full force March 17-20.

For a look at the best New York college basketball betting sites, check out EmpireStakes.com.

Inside the Numbers

An analysis of the numbers showed both positives and negatives for the four operators currently at the bottom of the pile of eight. Those four are PointsBet New York, BetRivers New York, WynnBET New York and Resorts World New York.

On one hand, the share of handle of those four compared to the four operators above them is incredibly small. The other four are FanDuel New York, DraftKings New York, Caesars Sportsbook New York and BetMGM New York.

On the other hand, the smaller four are starting to show strides.

Overall, for the week ending March 20, the four smaller operators had a combined handle of $38,410,465. That comprised only 9 percent of the overall haul of $427,971,720.

Still, that shows some progress when you consider the cumulative total.

Since launching Jan. 8, the combined handles of FanDuel, DraftKings, Caesars Sportsbook and BetMGM total 94.6% of the overall handle thru March 20 of $4,354,543,290. The other four have totaled only 5.4% of the pie with $236.1 million.

It should be noted BetMGM did not launch until Jan. 17 but has joined the Big 4. Meanwhile, BetRivers (under parent company Rush Street International) was one of the original four to launch but is now among the lesser four.

A Breakdown by Operator

Let’s take a closer look at the four operators currently at the bottom of the pack in the Empire State.

PointsBet recorded its second highest handle to date ($23,970,604), which trails only the $29.47 million total on its first week of reporting ending Jan. 30. It also marked its third-highest total gross gaming revenue (GGR) at $1,100,430.

To date, PointsBet has a total mobile sports wagering handle of $120.83 million with $7.9 million in total GGR and $4.029 million of taxes paid to the state.

BetRivers, one of the original four mobile providers to launch Jan. 8, also had a strong week with $10.95 million in total handle. That is its third-highest week overall — the highest was $11.56 million for the week ending Jan. 23.

For BetRivers, it also was its third-highest week of total GGR, posting at $718,167, its largest since recording $762,243 for the week ending Feb. 6. Since launch, BetRivers has totaled $100.04 million in handle, $4.66 million in GGR and $2.37 million in taxes to Albany.

WynnBet posted more than $2 million in total handle for the fourth consecutive week at $2.24 million, which was its third highest mark since its first week of reporting for the week ending Feb. 6. Its total GGR was $223,775, ending a three-week stretch of more than $300,000.

To date, WynnBet has posted $11.82 million in total handle, $1.65 million in total GGR and $841,938 in taxes to the state.

In just its third week of official figures, Resorts World posted $1.24 million in total handle, its second largest to date. Its GGR was $95,942. Since its launch, Resorts World has totaled $3.42 million in total handle, $366,239 in total GGR and $186,782 in taxes to the state.

The ninth licensed operator, Bally Bet, has stated it plans to launch sometime in April.

CUMULATIVE TOTALS, JAN. 8-MARCH 20

Mobile handle GGRTaxes
FanDuel $1,556,710,104 $100,482,055 $51,245,848
Caesars $1,143,394,240 $96,120,757 $49,021,586
DraftKings $1,063,434,107 $77,241,524 $39,393,177
BetMGM $354,902,296 $12,204,329 $6,224,208
PointsBet $120,829,650 $7,900,265 $4,029,135
BetRivers $100,041,875 $4,657,671 $2,375,412
WynnBet $11,815,188 $1,650,859 $841,938
Resorts World $3,415,830 $366,239 $186,782
Totals $4,354,543,290 $300,623,698 $153,318,086
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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