Summer Swoon Official as Weekly NY Sports Betting Handle Falls Below $200M

Summer Swoon Official as Weekly NY Sports Betting Handle Falls Below $200M
By Lou Monaco
Fact Checked by Pat McLoone

For the past four weeks, mobile sports betting in New York has had a consistent theme in its official numbers for overall total handle and Gross Gaming Revenue (GGR).

Summer is here and the theme is the handle numbers keep going down while GGR is going up.

Total handle came in at less than $200 million for the first time in the 26 weeks since mobile wagering launched in early January, according to figures released Friday by the  New York State Gaming Commission (NYSGC).

It is the fourth consecutive week total handle has decreased since more than $265.63 million was reported for the week ending June 19.

However, since $13.87 million was reported in total GGR for the week ending June 19, the state’s GGR has increased, posting $27.03 million in this week’s report.

Eight of the nine mobile providers in the Empire State all reported decreases in total handle from the week before, with six of the eight posting a weekly increase in total GGR.

Two providers, BetMGM Sportsbook New York and WynnBet Sportsbook New York, showed decreases in both categories.

BallyBet  Sportsbook New York, which officially launched its mobile product on July 7, will make its official debut in NYSGC’s next weekly report on July 22. Unofficially, BallyBet NY posted $67,941 in total handle, $17,051 in total GGR and $8,696 in state taxes.

New York, which took its first mobile sports wagers on Jan. 8, has a 51% tax rate, which is tied with New Hampshire for the highest in the United States.

Updates on revenue come regularly at EmpireStakes.com as well as the top NY sportsbook promos.

New York Mobile Sports Betting, June 27-July 10

 
Mobile handle GGR
FanDuel $80,221,826 $13,778,040
DraftKings $52,140,153 $6,109,325
Caesars $30,542,770 $3,596,758
BetMGM $15,842,161 $2,166,746
BetRivers $4,970,685 $511,425
PointsBet $4,105,061 $624,793
WynnBet $1,274,514 $144,684
Resorts World $1,013,183 $85,476
Bally Bet $67,941 $17,051
Totals $190,178,294 $27,034,298

FanDuel Lowest Handle Since Launch 

 
The state’s leading mobile sports betting operator,  FanDuel Sportsbook New York, had its fourth consecutive decrease in total handle and its second consecutive week recording below $100 million.

The number ($80.22M) was still the highest of all the providers in the state, but it was a decrease of more than $13 million from the week before. Its total GGR for the week — $13.77 million — was the highest since $14.73M for the week ending May 22.

From Jan. 8 thru July 3, Fan Duel has totaled $3.5 billion in handle, $294.76 million in GGR and has sent more than $150.32 million in taxes to Albany. FanDuel has accounted for 38.7% of the overall handle and 46.06% of the GGR.

FanDuel NY and the state’s other top four providers handle 94% of the cumulative handle.

Here is a look at the other three after FanDuel NY:

DraftKings Sportsbook New York had handle below the $60 million dollar mark for the third week in a row, posting at $52.14M, down from $55.94M the week before. Its total GGR increased for the fourth week in a row, registering at $6.1M, its highest mark since the week ending June 10.

Since Jan. 8, DraftKings has posted about $2.17 billion in handle, more than $146M in total GGR and $74.47M in taxes.

Caesars Sportsbook New York dipped to $30.54 million in total handle from $31.27 a week earlier. Its total GGR showed a sharp rise to a little less than $3.6 million, almost doubling $1.8M the week before. Since launch, Caesars has posted more than $1.83 billion in total handle, $133.48 million in total GGR and is closing in on $70M in taxes.

BetMGM Sportsbook New York dipped to $15.84 million in total handle from $18.58 million last week. Its total GGR registered at $2.17 million. Since launch, BetMGM’s cumulative handle is more than $791.23 million, total GGR is $34.41 million and taxes to the state posted at $17.55 million.

Cumulative Totals, Jan. 8-July 10

 
Mobile handle GGRTaxes
FanDuel $3,507,651,131 $294,761,208$150,328,216
DraftKings $2,169,853,499 $146,030,263$74,475,434
Caesars $1,833,948,099 $133,476,798 $68,073,167
BetMGM $791,230,224 $34,414,698 $17,551,496
PointsBet $245,173,838 $15,443,592 $7,876,232
BetRivers $214,417,704 $10,773,848 $5,494,662
WynnBet $42,788,776 $3,816,610 $1,946,471
Resorts World $25,702,011 $1,192,464 $608,157
Bally Bet $67,941 $17,051 $8,696
Totals $8,830,833,221 $639,926,534 $326,362,532
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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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