Weekly Handle Down; Governor Lauds 1st Six Months of NY Sports Betting

Weekly Handle Down; Governor Lauds 1st Six Months of NY Sports Betting
By Lou Monaco
Fact Checked by Pat McLoone

Friday revealed a triumphant governor touting the massive achievements in  mobile sports betting in New Yorkon its six-month anniversary and a repeat of bad news/good news in the weekly report.

Governor Kathy Hochul announced that the Empire State’s mobile sports wagering program has far surpassed every other state, as well as budgeted projections, in a half-year of operations.

New York took its first mobile wagers on Saturday, Jan. 8.

"In just six months, New York has become a leader among states in implementing successful gaming policies, with hundreds of millions of dollars going to important programs that will improve the lives of all New Yorkers," Gov. Hochul said in a news release. "I look forward to continuing to enact responsible gaming policies that provide exciting entertainment for New Yorkers of legal age - all with important safeguards in place to help those who need it."

Citing news reports, the governor’s office said New York has collected more in mobile sports wagering revenue in six months than the total sports wagering revenue—both mobile and retail – of any other state over several years.

New York has collected more than $312 million in tax revenue in six months. Through May 2022, Pennsylvania has collected $265.6 million since November 2018 and New Jersey has generated $237.1 million since June 2018.

Both states have lower tax rates than New York’s 51 percent, which is tied with New Hampshire for the highest in the United States.

Trend from Last Week Continues

Total handle dropped again to a new weekly low for a full week but total GGR was up again, according to figures released by the New York State Gaming Commission (NYSGC).

The state’s total intake for the week ending July 3 registered at $212.8 million, a decrease of more than $6.1 million from the previous week ($218.9 million) and its lowest total in 24 full weeks of reporting.

In the last two weekly reports, overall total handle in the state dropped more than $52.83 million.

Total GGR posted at more than $20.23 million, a nice $4.39 million increase since $15.84 million the week before. The number was the highest since more than $21.71 million was reported for the week ending June 12 and third highest since more than $30.97 million for the week ending May 15.

In six months, the state has generated more than $8.64 billion in total handle, more than $612.89 million in total GGR and more than $312 million in taxes to the state.

Updates on revenue come regularly at EmpireStakes.com as well as New York sportsbook promos.

New York Mobile Sports Betting, June 27-July 3

 
Mobile handle GGR
FanDuel $93,273,267 $10,563,382
DraftKings $55,941,060 $4,413,865
Caesars $31,266,883 $1,822,443
BetMGM $18,575,471 $2,424,671
BetRivers $5,818,167 $407,200
PointsBet $5,213,615 $382,478
WynnBet $1,600,411 $179,348
Resorts World $1,107,660 $38,323
Totals $212,796,534 $20,231,709

 

FanDuel Dips Under $100M in Handle for First Time

After 24 consecutive weeks generating more than $100 million in weekly total handle, the state’s leading mobile sports betting operator, FanDuel New York, had a reported handle of about $93.28 million.

The number still was still the highest of all the providers in the state, accounting for 43.8% of the handle and more than half (52.2%) of the GGR and taxes. This week’s GGR posted at more than $10.56 million, up from $7.85 million last week.

From Jan. 8 thru July 3, Fan Duel has totaled $3.43 billion in handle, $280.98 million in GGR and has sent $143.3 million to Albany. In all, FanDuel has comprised a little less than 40 percent of the overall handle and 45.8% of the revenue and taxes.

The rest of the state’s big three: 
 
DraftKings New York was one of three providers to show increases in both handle and GGR. Its handle of $55.94 million was more than a $3 million increase from the week before ($52.89 million). Its total GGR of $4.4 million was a modest increase from $3.67 million. Since Jan. 8, DraftKings has posted more than $2.12 billion in handle, more than $139.9 in total GGR and $71.36 million in taxes.

Caesars New York was the only provider to show decrease in both categories for the week. Its total handle was more than $31.27 million (down from $33.06 million) and its total GGR posted at more than $1.8 million (down from $2.25 million). Since launch, Caesars has posted more than $1.8 billion in total handle, $129.88 million in total GGR and $66.2 million in taxes to Albany.

BetMGM New York posted $18.58 million in total handle, about a $1 million decrease from week before ($19.56 million). Its total GGR registered at $2.42 million, up from $1.28 million. BetMGM’s cumulative handle since launch is more than $775.39 million. Its total GGR is $32.25 million and taxes to the state is at $16.45 million.

The other two providers to show increases in both total handle and GGR from the week before were WynnBet App New York and Rush Street Interactive (parent of BetRivers New York).

WynnBet’s total handle was $1.6 million, up a tad from $1.59 million. Its total GGR was $179,348, up from last week’s $44,548.

The total handle for BetRivers was more than $5.82 million (up from $5.29 million) and its total GGR came in at $407,200, up from $323,274.

PointsBet New York rebounded nicely from last week, posting more than $5.21 million, up from its lowest handle ever at $3.42 million a week ago. Its total GGR was $382,478, down from $414,115. 
 
ResortsWorld New York posted $1.1 million in total handle, its lowest since $1.07 million for the week ending April 17. Its total GGR was $38,323.

Finally, BallyBet New York officially launched its mobile product on July 7, making all nine approved providers by the NYSGC now live and fully operational.

Cumulative Totals, Jan. 8-July 3

 
Mobile handle GGRTaxes
FanDuel $3,427,429,305 $280,983,168$143,301,416
DraftKings $2,117,713,346 $139,920,938$71,359,678
Caesars $1,803,405,329 $129,880,040 $66,238,820
BetMGM $775,388,064 $32,247,952 $16,446,456
PointsBet $241,068,776 $14,818,800 $7,557,588
BetRivers $209,447,020 $10,262,424 $5,233,836
WynnBet $41,514,262 $3,671,926 $1,872,682
Resorts World $24,688,827 $1,106,988 $564,564
Totals $8,640,654,927 $612,892,236 $312,575,040
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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
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