All About New York Sports Betting Handle And Revenue

By Editorial Staff

March 8, 2024 03:17pm

The experts at EmpireStakes.com have assembled this guide to explain what we mean when we talk about New York sports betting financial figures. The two main categories are handle and gross gaming revenue.

The sports betting market in New York includes nine online/mobile operators as of June 2023, as well as a number of retail sportsbooks at a handful of brick-and-mortar casinos. The online market includes the vast majority of sports betting action in the state.

Also, there are plans for three New York City-area casinos. The specifics on those casinos are not firm but they would possibly include sportsbooks whenever they begin operations.

The handle is simply the total dollars wagered on sports in the state each month. In New York, bettors wager hundreds of millions of dollars each month (sometimes more than $1 billion in a month). Though upstate casinos already had sports gambling available since 2019, online sports wagering was a game-changer when it began in January 2022. Online sports gambling propelled New York to the top of states with sports wagering. Many online operators offer NY sportsbook promo codes to their customers.

Handle represents the amount of total money wagered and gross gaming revenue is what is left over after winning bets are paid. In New York, the tax rate on mobile sportsbooks is 51% of the gross gaming revenue, which is tied with Rhode Island and New Hampshire for the highest tax rate in the country in that category. The New York tax rate on retail sports betting revenue is 10%.

New York Mobile Sports Betting, February vs. January

New York Sports Betting Handle and Revenue: February 2024

After a record-breaking January to start the New Year, New York had deep decreases as official sports betting figures for February were released by the New York State Gaming Commission (NYSGC) on Friday, March 8.

The state’s total sports betting monthly handle for mobile generated $1,773,303,032, a more than $182.28 million decrease from January's record-setting total of $1,965,468,151.

Since the state launched mobile in Jan. 2022, its mobile sports betting handle total is more than $17.790 billion.

Mobile sports betting gross gaming revenue (GGR) for February posted at $131,427,936, a huge drop from January's record of $211,504,815.

Since Jan. 2022, total GGR has eclipsed $1.612 billion.

Net revenue to platform provider posted at 64,399,424 and net revenue for education came in at $67,027,972.

New York Mobile Sports Betting History