New York Records Lowest Weekly Sports Betting Handle And Other Takeaways

New York Records Lowest Weekly Sports Betting Handle And Other Takeaways
Fact Checked by Jim Tomlin

For the second week of May, online New York sports betting had its lowest handle ever outside of the very first week of Internet sports betting in early January (which was a partial week) and the lowest yet for a full week as the spring-summer doldrums arrived.

Sports wagering typically slows at this time of year as bookmakers eagerly await NFL betting and college football season to return.

Handle, Revenue Down From Previous Week

For May 9-15, New York online sports gambling slumped to $286.2 million in handle and to nearly $31 million in gross gaming revenue (GGR), according to figures from the New York State Gaming Commission.

Those weekly figures substantially trailed the previous week (May 2-8) which had $331.7 million in handle and $37 million in gross gaming revenue. In the week-to-week comparison, handle was down 13.7% and GGR decreased 16.2%.

New York Mobile Sports Betting, May 9-15

Mobile handle GGR
FanDuel $120,188,666 $17,647,801
DraftKings $71,657,120 $6,303,401
Caesars $45,379,533 $3,090,372
BetMGM $30,012,838 $2,291,245
PointsBet $8,442,659 $858,704
BetRivers $7,177,596 $603,015
WynnBet $2,140,267 $151,600
Resorts World $1,218,091 $27,897
Totals $286,216,769 $30,974,034

FanDuel Once Again Tops Sportsbooks

FanDuel Sportsbook New York continued to assert its dominance leading the eight New York online sports wagering operators with almost $120.2 million in handle and $17.6 million in GGR for the second week in May. Since online sports betting started in New York, FanDuel has taken about $2.65 billion in wagers with a GGR of $211.5 million.

For handle, DraftKings Sportsbook New York was No. 2, Caesars Sportsbook New York was third and BetMGM Sportsbook New York was fourth for the week.

Cumulative Totals, Jan. 8-May 15

Mobile handle GGRTaxes
FanDuel $2,645,658,959 $211,511,271 $107,870,748
DraftKings $1,668,345,548 $116,345,205 $59,336,055
Caesars $1,544,023,728 $119,716,135 $61,055,229
BetMGM $617,575,612 $21,937,554 $11,188,153
PointsBet $207,186,956 $11,643,283 $5,938,074
BetRivers $165,824,129 $7,987,725 $4,073,740
WynnBet $29,112,771 $3,016,624 $1,538,478
Resorts World $13,613,438 $979,123 $499,353
Totals $6,891,341,138 $493,136,921 $251,499,830

New York Tax Impact Tops $250 Million

Since online sports gambling’s inception in New York, the state has realized almost $251.5 million in taxes as bettors have wagered nearly $6.9 billion overall and operators have had $493.1 million in GGR.

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Contributors

Bill Ordine was a reporter and editor in news and sports for the Philadelphia Inquirer and Baltimore Sun for 25 years, and was a lead reporter on a team that was a finalist for the Pulitzer Prize in Breaking News. Bill started reporting on casinos and gaming shortly after Atlantic City’s first gambling halls opened and wrote a syndicated column on travel to casino destinations for 10 years. He covered the World Series of Poker for a decade and his articles on gaming have appeared in many major U.S. newspapers, such as the Los Angeles Times, Chicago Tribune, Miami Herald and others.

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