Handle Down, GGR Up and Other NY Sports Betting Observations

Handle Down, GGR Up and Other NY Sports Betting Observations

By Lou Monaco

Fact Checked by Pat McLoone

The thought mobile New York sports betting operators would have a huge lift after the opening weekend numbers of the NCAA Men’s College Basketball Tournament was not realized.

It turned out to be rather calm and quiet by industry standards for a big wagering event.

Here are three takeaways for the week ending April 3:

Lowest Total Handle for 2 Straight Weeks

From March 28-April 3, New York bettors wagered more than $312.13 million in total mobile handle, $15.71 million less than the previous week, according to official figures released by the New York State Gaming Commission (NYSGC) on Friday.

It was the lowest weekly total handle in New York for a complete week since mobile launched Jan. 8. It also is the lowest total recorded since the first two days of official figures reporting by the NYSGC among the Empire State’s initial four live mobile operators for Jan. 8-9 ($171,298,257).

The state’s total handle has fallen by $115.84 million since the opening weekend (March 17-20).

All New York online sports wagering operators since the launch of mobile sports betting Jan. 8 have had a cumulative handle of $4.99 billion and a GGR of more $329.7 million. New York has a 51% tax rate, and the state has collected more than $168.2 million in taxes.

NEW YORK MOBILE SPORTS BETTING, MARCH 28-APRIL 3

Mobile handle GGR
FanDuel $135,723,818 $3,819,999
DraftKings $72,955,408 $5,379,578
Caesars $48,873,595 $4,254,072
BetMGM $36,879,411 $733,061
BetRivers $8,185,567 $324,624
PointsBet $6,453,998 $362,590
WynnBet $2,213,955 $217,035
Resorts World $844,324 $90,715
Totals $312,130,076 $15,181,675


Positive News on GGR

Total Gross Gaming Revenue (GGR) from all eight mobile providers registered at $15.18 million, an uptick of $1.25 million from $13.93 million the week before.

The positive number ended two straight weeks of decreases and had the top four (FanDuel Sportsbook New York, DraftKings Sportsbook New York, Caesars Sportsbook New York and BetMGM Sportsbook New York) post weekly increases.

BetMGM was the only one of the four to show a slight increase in total handle from the last week of reporting.

CUMULATIVE TOTALS, JAN. 8-APRIL 3

Mobile handle GGRTaxes
FanDuel $1,825,534,017 $113,832,340 $58,054,493
Caesars $1,249,183,401 $102,652,350 $52,352,699
DraftKings $1,219,435,722 $84,480,809 $43,085,213
BetMGM $428,135,901 $12,504,813 $6,377,455
PointsBet $134,581,047 $8,723,215 $4,448,839
BetRivers $116,267,840 $4,933,930 $2,516,304
WynnBet $16,002,980 $2,061,486 $1,051,358
Resorts World $5,368,927 $544,185 $277,534
Totals $4,994,509,833 $329,733,130 $168,163,896


Farewell to Madness; Now What?

With Kansas and South Carolina being crowned men’s and women’s college basketball champions earlier this week, what will the betting world turn to now for action?

Plenty.

Major League Baseball betting gets going as the regular season started Thursday. It will bring in a huge amount of interest from Mets and Yankees bettors on a daily basis.

The Brooklyn Nets will be in the play-in tournament for the NBA Playoffs next week and with a win can provide continued interest for basketball bettors. No playoffs for the Knicks, though.

The New York Rangers are the only NHL team from the Empire State that will make the NHL Playoffs, but it is a team that could make a deep run in the post-season.

Want football?

Bettors will get that, too, as the United States Football League opens its inaugural season April 16 as the New Jersey Generals and Birmingham Stallions square off in the league’s opener in Florida at 7:30 p.m. ET (FOX, NBC, Peacock).

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WRITTEN BY
NewYorkBets.com
Lou Monaco
Lou Monaco has been a columnist for Gaming Today in Las Vegas and has over 30 years sports experience with previous stints at ESPN SportsTicker, Daily Racing Form and Oddschecker.
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Lou Monaco has been a columnist for Gaming Today in Las Vegas and has over 30 years sports experience with previous stints at ESPN SportsTicker, Daily Racing Form and Oddschecker.
... Read More