How high is high in mobile New York sports betting? We’re about to find out.
The New York State Gaming Commission on Friday released numbers for handle, Total Gross Gaming Revenue (GGR) and taxes for Jan. 17-23. The numbers are mind-boggling, especially when combined with the last set of handle and revenue figures.
Here are three takeaways following Friday’s posting of new numbers:
New York Sports Betting Is About to Reign
Make no mistake. In its first month, New York is on its way to set a national record for monthly sports betting handle. In fact, that record might be obliterated.
The current champion for online sports betting handle is New Jersey, which rang up at $1.3 billion set in October 2021.
With Friday’s report, the state of New York has a sports betting handle of $1.175 billion. Keep this in mind: That number surely will roll well above $1.3 million after figures come in from the upcoming weekend in which the NFL’s conference title games will be played. (You can find New York NFL betting sites, strategy and odds here on NewYorkBets.com).
No wonder companies saw New York as a crown jewel for mobile sports betting.
NEW YORK MOBILE SPORTS BETTING, JAN. 17-23
| Mobile handle | GGR | Taxes | |
|---|---|---|---|
| Caesars | $229,709,718 | $19,036,117 | $9,708,420 |
| FanDuel | $159,653,476 | $10,038,212 | $5,119,488 |
| DraftKings | $131,058,363 | $10,828,664 | $5,522,619 |
| BetMGM | $40,569,269 | $2,514,702 | $1,282,498 |
| BetRivers | $11,561,320 | $784,797 | $400,246 |
| Totals | $572,552,146 | $43,202,492 | $22,033,271 |
Taxes Have Been a Windfall for State So Far
To date, New York has amassed $1.175 billion in total handle. Its Total Gross Gaming Revenue (GGR) is at $91.427 million and taxes to the state are at $46.628 million.
The national record for tax revenue already had been set after nine days with the previous report of $24,594,639.
In this regard, what many considered the exorbitant 51% tax rate is working, at least right out of the gate. The only other state at 51% currently is New Hampshire.
Hail, Caesars
For the second consecutive report, Caesars Sportsbook New York has been atop the figures.
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Here is a breakdown of each sportsbook.
Caesars Sportsbook New York reported $229.7 million in mobile handle, up from $190.23 million from the week before. Caesars’ GGR: $19.03 million for the week. Caesars has totaled $487.36 million in January with GGR at $41.75 million and taxes at $21.29 million.
CUMULATIVE TOTALS, JAN. 8-23
| Mobile handle | GGR | Taxes | |
|---|---|---|---|
| Caesars | $487,360,917 | $41,750,855 | $21,292,936 |
| FanDuel | $360,005,361 | $24,179,011 | $12,331,296 |
| DraftKings | $265,475,441 | $21,751,213 | $11,093,119 |
| BetMGM | $40,569,269 | $2,514,702 | $1,282,498 |
| BetRivers | $22,194,993 | $1,231,493 | $628,061 |
| Totals | $1,175,605981 | $91,427,274 | $46,627,910 |
FanDuel New York had a handle of $159.63 million, up from $137.1 million the week before. The GGR weekly total was $10.038 million. Since, Jan. 8, FanDuel has posted $360 million in total handle, $24.18 million in GGR and $12.33 million in taxes.
DraftKings New York posted a handle of $131.058 million, up from $95.9 million. Their GGR was $10.828 million, slightly down from $10.92 million. Since Jan. 8, DraftKings handle is at $265.475 million, GGR at $21.75 million and taxes at $11.093 million.
Bet Rivers New York went up to $11.56 million in handle, after $10.63 million from Jan. 8-16. Its GGR was $784,797. Since Jan. 8, total handle for BetRivers is at $22.194 million, GGR at $1.2 million and taxes at $628,061.
BetMGM New York posted for the first time, with $40,569,269 in handle, $2,514,702 in GGR and $1,282,498 in taxes.
PointsBet New York launched on Tuesday, Jan. 25 and is not yet included in the report. WynnBET New York, BallyBet New York and Resorts World New York are licensed to operate but have not been cleared to begin as of yet.
