Week Ending June 5 Brings New Revenue Low in New York Sports Betting

Week Ending June 5 Brings New Revenue Low in New York Sports Betting
By Bill Ordine
Fact Checked by Pat McLoone

Sports Betting New York wagering hit a new low for Gross Gaming Revenue (GGR) for the week ending June 5.

Statewide online sports betting has been in operation in the Empire State since it launched on Jan. 8, about six months.

Sports gambling operators had a collective GGR of almost $10.77 million, off of a handle of about $270.7 million, for a hold of just a little less than 4%. Over the six months that online sports wagering has been in operation, the hold has averaged closer to 7%.

The previous weekly low for GGR was $12.88 million for the week ending May 1.

The New York State Gaming Commission also today released a report on sports betting for the month of May.

New York Mobile Sports Betting, May 30-June 5

 
Mobile handle GGR
FanDuel $117,247,862 $6,765,992
DraftKings $74,132,661 $2,724,352
Caesars $40,573,584 $171,657
BetMGM $23,599,549 $523,774
BetRivers $7,361,039 $407,122
PointsBet $4,263,698 $126,609
Resorts World $1,870,469 Minus-$10,804
WynnBet $1,641,457 $59,750
Totals $270,690,318 $10,768,452

 

 

Handle Drops to $270 Million

Meanwhile, the weekly handle of $270.69 million was the third-lowest since statewide online sports gambling started in New York in early January. The former lows for handle occurred the first week of online operation ending Jan. 9, and for the week ending May 22.

In January, the report was just for opening weekend, not a full week.

However, to put the dollars in perspective, New York consistently posts the highest numbers for handle and revenue among the more than 30 jurisdictions in the United States that have online sports gambling or retail sports wagering or both.

Also, spring and summer are the doldrums for sports wagering across the country and it mostly will stay that way until the NFL and college football seasons start in the fall.

FanDuel Continues Dominance

What has become a constant in the New York sports gambling picture is that FanDuel Sportsbook New York is the dominant online sportsbook.

For the week ending June 5, FanDuel had a handle of more than $117.25 million and a GGR nearing $6.77 million, accounting for about 63% of the state total.

DraftKings Sportsbook New York was second in both categories with a handle of $74.1 million and GGR of $2.72 million.

There’s lots of distance between the two front-runners and the rest of the eight-operator field.

In order, the rest are: Caesars Sportsbook New York, $40.6 million handle and $171,657 GGR; BetMGM Sportsbook New York, nearly $23.6 million handle and $523,774 GGR; BetRivers Sportsbook New York, $7.36 million handle and $407,122 GGR; PointsBet Sportsbook New York, $4.26 million handle and $126,609 GGR; Resorts World Sportsbook New York, $1.87 million handle and minus-$10,804 GGR, and WynnBet, $1.64 million handle and $59,750 GGR.

In New York, mobile sports wagering GGR is taxed at 51%.

Cumulative Totals, Jan. 8-June 5

 
Mobile handle GGRTaxes
FanDuel $2,998,650,744 $241,394,362$123,111,125
DraftKings $1,877,697,947 $124,617,946$63,555,152
Caesars $1,663,783,228 $123,801,167 $63,138,595
BetMGM $692,831,682 $25,365,991 $12,936,655
PointsBet $221,564,262 $13,014,150 $6,637,217
BetRivers $186,734,496 $8,719,106 $4,446,744
WynnBet $35,170,693 $3,291,926 $1,678,882
Resorts World $18,635,581 $1,020,604 $520,508
Totals $7,695,068,630 $541,225,254 $276,024,880

 

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Contributors

Bill Ordine was a reporter and editor in news and sports for the Philadelphia Inquirer and Baltimore Sun for 25 years, and was a lead reporter on a team that was a finalist for the Pulitzer Prize in Breaking News. Bill started reporting on casinos and gaming shortly after Atlantic City’s first gambling halls opened and wrote a syndicated column on travel to casino destinations for 10 years. He covered the World Series of Poker for a decade and his articles on gaming have appeared in many major U.S. newspapers, such as the Los Angeles Times, Chicago Tribune, Miami Herald and others.

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