Weekly Handle Low but June Will Surpass $1B in NY Sports Betting

Weekly Handle Low but June Will Surpass $1B in NY Sports Betting
By Lou Monaco
Fact Checked by Pat McLoone

As we head into the Fourth of July weekend, word came of an expected decrease in New York sports betting handle for the last week in June.

In fact, the New York State Gaming Commission reported Friday the lowest handle for a full week to date for the week ending June 26.

There was, however, a modest increase in Gross Gaming Revenue (GGR).

Each week the NYSGC issues a sports betting report since mobile gaming launched in the Empire State on Jan. 8.

The state’s total handle posted at more than $218.9 million, a decrease of more than $46.73 million from the NYSGC report a week before ($265.64 million), and its lowest total since the two-day reporting of more than $171.29 million at launch (Jan. 8-9).

Its total GGR posted at more than $15.84 million, a modest increase of more than $1.97 million from the week before ($13.87 million). The number was the highest since more than $21.71 million was reported for the week ending June 12.

The state’s tax intake was more than $8.08 million, a more than $1 million bump up from more than $7.07 million the previous week. Operators in New York are taxed at 51% on GGR, tied with New Hampshire for highest among states.

For the month of June, with several days still unrecorded, the state already has notched $1,003,480,080 in total handle. New York’s handle has been above $1 billion each month so far.

With just seven days remaining until the sixth-month anniversary of mobile sports wagering launching in New York on Jan. 8, the state has generated more than 
$8.43 billion in total handle, more than $592.66 million in total GGR and went over the $300 million mark (more than $302.26 million) in taxes to the state.

New York Mobile Sports Betting, June 20-26

 
Mobile handle GGR
FanDuel $101,537,195 $7,845,801
DraftKings $52,886,519 $3,671,515
Caesars $33,064,983 $2,249,101
BetMGM $19,558,938 $1,284,962
BetRivers $5,285,712 $323,274
PointsBet $3,415,137 $414,115
WynnBet $1,589,467 $44,548
Resorts World $1,566,655 $10,817
Totals $218,904,606 $15,844,132

 

Six Providers Show Lowest Handle Since Launch

In a sign of a sporting season with less options and possibly that the nation’s economy woes have entered the New York wagering market, six of the eight live mobile providers showed their lowest handle since they launched in the state. That includes the state’s overwhelming leading operator, FanDuel Sportsbook New York, which posted its lowest weekly handle since Jan. 8.

FanDuel posted more than $101.54 million, a solid $23.36 million decrease from the previous week (more than $124.9 million in total handle). Its total GGR posted at more than $7.85 million, a decrease of more than $4.51 million from last week ($12.36 million).

The rest of the state’s big four:

DraftKingsSportsbook New York had a handle of $52.89 million, a $12.75 million decrease from the week before ($65.64 million), and its lowest since launch. Its total GGR of $3.67 million is more than a $2.59 million increase from last week’s $1.08 million (its lowest to date). Since Jan. 8, DraftKings has posted more than $2.06 billion in handle, more than $135.5 in total GGR and $69.1 million in taxes.

Caesars Sportsbook New York posted more than $33.06 million, a $5.13 million decrease from $38.19 million a week earlier, and more than $2.25 million in total GGR. Since launch, Caesars has posted more than $1.77 billion in total handle, more than $128.06 million in total GGR and more than $65.3 million in taxes to Albany.

BetMGM Sportsbook New York posted $19.56 million in total handle, a slight decrease from $21.6 million the previous week. Its total GGR registered at $1.28 million, an almost $1 million increase from last week. BetMGM’s total handle since launch is more than $756.81 million. Its total GGR is $29.82 million and taxes to the state: $15.20 million.

PointsBet Sportsbook New York posted its lowest handle ever at more than $3.42 million and Rush Street Interactive (BetRivers) posted its lowest handle since launch at more than $5.29 million.

The only provider to show increases in both total handle and GGR from the week prior was WynnBet Sportsbook New York. Its total handle was more than $1.59 million, its largest since $1.64 million for the week ending June 5. Its total GGR was $44,548, up from last week’s negative (-$21,807).

BallyBet, which was expected to launch and the end of the second quarter, did not. It is the only approved provider yet to launch in the state.

You can rely on EmpireStakes.com for the latest updates on Bally's and for the best New York sports betting promo codes.

Cumulative Totals, Jan. 8-June 26

 
Mobile handle GGRTaxes
FanDuel $3,334,156,038 $270,419,786$137,914,091
DraftKings $2,061,772,285 $135,507,073$69,108,607
Caesars $1,772,138,446 $128,057,597 $65,309,374
BetMGM $756,812,593 $29,823,281 $15,209,873
PointsBet $235,855,161 $14,436,322 $7,362,524
BetRivers $203,628,853 $9,855,224 $5,026,164
WynnBet $39,913,851 $3,492,578 $1,781,215
Resorts World $23,581,167 $1,068,665 $545,019
Totals $8,427,858,393 $592,660,527 $302,256,869
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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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