New York Experiences Top-Three Lucrative Sports Betting Week Since 2021 Launch

Dec 11, 2023; East Rutherford, New Jersey, USA; New York Giants quarterback Tommy DeVito (15) throws a pass during the second quarter against the Green Bay Packers at MetLife Stadium. Mandatory Credit: Robert Deutsch-USA TODAY SportsThe New York State Gaming Commission reported $56.8 million in gross gaming revenue this past weekIt was the third-highest weekly gross gaming revenue total since the state launched online sports betting in January 2021New York reported $410.2 million in online sports betting handle for the week

Another week, another record set by New York online sports betting.

The New York State Gaming Commission reported $56.8 million in gross gaming revenue for the week ending Dec. 10. It was the third highest weekly total since New York launched online sports betting in January 2021.

The all-time record was set just two month ago, when the state took in $62.04 million for the week ending Oct. 15.

Millions in Sports Betting Tax Revenue

The New York State Gaming Commission reported $$410,208,000 in online sports betting handle for the week ending Dec. 10, a decline of more than $76 million from the week before.

However, New York saw an increase of more than $24 million in gross gaming revenue for the week ending Dec. 14 over the previous week. The gaming commission reported a total of $56,887,902 in gross gaming revenue, it’s third highest weekly total ever.

This resulted in more than $29.8 million in sports betting tax revenue for just the one week.

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FanDuel again topped all operators in terms of handle the week, totaling $176.8 million in online sports betting handle and $27.1 million in gross gaming revenue. DraftKings totaled $145.7 million in handle and $20.1 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 Dec. 10:

FanDuel NY: $176,893,033DraftKings NY: $145,764,062Caesars Sportsbook NY: $41,561,614BetMGM NY: $22,909,374BetRivers: $11,658,314PointsBet: $6,318,015WynnBET: $1,880,023Resorts World: $1,720,576Bally Bet: $1,502,990

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: $13,761,063,074DraftKings: $10,779,311,154Caesars: $4,795,444,773BetMGM: $2,491,365,380BetRivers: $995,392,075PointsBet: $723,063,504WynnBET: $201,475,641Resorts World: $122,097,827Bally Bet: $22,958,499

NY Sports Betting Revenues

For the week of Dec. 10, the nine sportsbooks reported a total of $56,887,902 in gross gaming revenue. At New York’s 51% online sports betting tax rate, this resulted in $29,012,830  million in tax revenue.

Here are the total gross gaming revenues for the week:

FanDuel: $27,102,678DraftKings: $20,157,853Caesars: $4,468,777BetMGM: $2,883,725BetRivers: $1,082,780PointsBet: $828,853WynnBET: $118,108Resorts World: $123,176Bally Bet: $121,951

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

FanDuel: $1,407,085,411DraftKings: $883,031,557Caesars: $348,770,232BetMGM: $168,065,563BetRivers: $57,054,169PointsBet: $44,773,053WynnBET: $10,608,918Resorts World: $7,253,550Bally Bet: $1,324,739