Three Takeaways as New York Sports Betting Heads into Memorial Day

Three Takeaways as New York Sports Betting Heads into Memorial Day
Fact Checked by Pat McLoone

Here are three takeaways in New York sports betting for the week ending May 22:

Second Consecutive Decline

New York sports betting total handle and Gross Gaming Revenue (GGR) decreased for the second consecutive week as the state’s overall total handle came in at $261.15 million. The number marked the lowest full week since the state launched sports wagering during the weekend of Jan. 8-9, when the total was $171.29 million. Keep in mind, though, that was for a weekend, not a full week.

The weekly GGR posted at $23.48 million, its second straight weekly decrease since its second-highest GGR of the year at $37 million for the week ending May 8.

New York Mobile Sports Betting, May 16-22

 
Mobile handle GGR
FanDuel $114,113,943 $14,738,271
DraftKings $64,150,552 $3,696,934
Caesars $40,617,910 $2,351,657
BetMGM $26,076,132 $1,402,348
BetRivers $6,583,927 $284,689
PointsBet $5,991,542 $756,087
WynnBet $2,128,406 $97,587
Resorts World $1,490,378 $155,860
Totals $261,152,790 $23,483,432

Resorts World Only Increase Among Eight Operators

Seven of the eight live mobile sports wagering operators showed decreases in handle from the week before with Resorts World Sportsbook New York showing the only positive, yet modest increases, in both total handle and GGR.

Although last among the live eight, Resorts World posted a total weekly handle of $1.49M, up from $1.21M a week earlier. Its weekly GGRwas $155,860, a huge increase from $27,897 the previous week and the second highest since the week ending April 17 ($160,730).

BallyBet is the last of the nine operators but hasn’t launched yet. The most recent timing appears to be in June.

You always can turn to NewYorkBets.com for the best New York sports promo codes.

Cumulative Totals, Jan. 8-May 22

 
Mobile handle GGRTaxes
FanDuel $2,759,772,902 $226,249,542$115,387,266
DraftKings $1,732,496,100 $120,042,139$61,221,491
Caesars $1,584,641,638 $122,067,793 $62,254,574
BetMGM $643,651,744 $23,339,901 $11,903,350
PointsBet $213,178,498 $12,399,369 $6,323,678
BetRivers $172,408,056 $8,272,414 $4,218,931
WynnBet $31,241,177 $3,114,211 $1,588,248
Resorts World $15,103,816 $1,134,984 $578,842
Totals $7,152,493,928 $516,620,353 $263,476,380

Mets, Yankees Strong Seasons; Inflation Could Be Key

With the New York Yankees and New York Mets both getting off to tremendous starts to their seasons – leading the AL East and NL East, respectively – bettors always will have opportunities heading into the start of summer.

The United States economy could be having an effect on the industry as more bettors might tend to keep their cash in their wallets and bank accounts as prices for every product and service seem to have increased steadily over the last few months.

However, there is hope as betting on the National Football League returns to the national stage two months from next Saturday. At that time the exhibition season will start as the Jacksonville Jaguars face the Las Vegas Raiders in the Hall of Fame Game in Canton, Ohio (Aug. 4, 8 p.m.).

All bettors will be happy for that opportunity to come around.

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Contributors

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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