New York Online Sports Betting Closing In On Second Straight $2 Billion Month

Nov 19, 2023; Landover, Maryland, USA; New York Giants quarterback Tommy DeVito (15) celebrates after throwing a touchdown pass against the Washington Commanders during the second quarter at FedExField. Mandatory Credit: Geoff Burke-USA TODAY SportsNew York online sports betting may hit $2 billion in handle for the second straight monthThe Empire State needs $22 million in four days to cross the thresholdNo other state has totaled more than $2 billion in a single month

It wasn’t long ago that people were wondering if a state would ever clear $1 billion in sports betting handle in a month.

Now, one state is close to crossing $2 billion in sports betting handle for two months straight.

New York stands on the precipice of clearing $2 billion for New York online sports betting handle for the second straight month, as the Empire State has reported more than $1.97 billion in handle with four days left unreported in November.

$2 Billion Again in Reach

The New York State Gaming Commission reported $516,595,390 in online sports betting handle for the week ending Nov. 26. Through November, the state has reported $1.978 billion in online sports betting handle, with four unreported days remaining in the month.

The Empire State could cross the $2 billion handle mark for the second month in a row, as the state reported $2,006,823,408 in handle for October. However, the state also reported just $21.5 million in gross gaming revenue for the week, a decrease or more than $19 million in gross gaming revenue from the week ending Nov. 19.

FanDuel again topped all operators for the week, totaling $214.7 million in online sports betting handle and $11.5 million in gross gaming revenue.

The New York State Gaming Commission releases handle and revenue reports for its nine NY sports betting apps, Caesars Sportsbook, DraftKings Sportsbook, FanDuel, BetMGM, WynnBET, PointsBet, Bally Bet, Resorts World Bet, and BetRivers, at the conclusion of each week.

Here are the handle breakdowns for the nine sportsbooks for the week ending Nov. 26:

FanDuel NY: $214,764,211DraftKings NY: $186,940,463Caesars Sportsbook NY: $55,037,519BetMGM NY: $29,448,060BetRivers: $17,286,784PointsBet: $6,437,550WynnBET: $3,105,134Bally Bet: $1,839,380Resorts World: $1,736,289

Fanatics Sportsbook will likely take over the PointsBet New York online sports betting license soon. The New York State Gaming Commission recently gave regulatory approval for the transfer of PointsBet’s online sports betting license to Fanatics Betting and Gaming, setting the stage for the first new sports betting operator in the Empire State since it launched online sports betting in Jan. 2022.

There is no timeline for the transfer of the license.

Bally Bet has resumed operations in New York after transitioning to its Kambi platform.

Here are the total handles for the nine sportsbooks since New York’s Jan. 8, 2022 launch. FanDuel is the only operator in the state to eclipse $13 billion in total handle so far.

FanDuel: $13,389,505,363DraftKings: $10,459,958,248Caesars: $4,708,117,424BetMGM: $2,443,379,059BetRivers: $967,794,914PointsBet: $710,751,267WynnBET: $197,292,208Resorts World: $118,466,652Bally Bet: $19,973,787

NY Sports Betting Revenues

For the week of Nov. 26, the nine sportsbooks reported a total of $21,502,690 in gross gaming revenue. At New York’s 51% online sports betting tax rate, this resulted in $10,966,371 million in tax revenue.

Here are the total gross gaming revenues for the week:

FanDuel: $11,577,607DraftKings: $7,947,565Caesars: $494,510BetMGM: $395,877BetRivers: $771,268PointsBet: $379,213Bally Bet: $85,285Resorts World: ($73,703)WynnBET: ($74,932)

Here are the total gross gaming revenues since the Jan. 8, 2022 launch:

FanDuel: $1,367,684,977DraftKings: $849,380,869Caesars: $341,417,811BetMGM: $163,217,562BetRivers: $54,863,567PointsBet: $43,615,291WynnBET: $10,384,100Resorts World: $7,027,713Bally Bet: $1,056,932