Here are three takeaways from September’s monthly New York sports betting figures, which were released Wednesday by the New York State Gaming Commission (NYSGC):
Billion-Dollar Month Reached Again
Football is the Empire State’s best friend.
The September monthly report came in at $1.226 billion. It was the state’s seventh $1 billion dollar month in total handle — its first since June ($1.051 billion) — since legalized sports wagering was launched Jan. 8.
Tax collected in the state for September was more than $73.09 million, up more than $23 million from August’s $50.79 million.
New York and New Hampshire share the nation’s highest tax rate of 51%.
The state also reached its highest numbers for net revenue to platform providers ($70.23 million) and net revenue to education ($73.09 million).
Handles Increase Across Board
All nine New York sports betting apps showed increases in total monthly handle.
Seven of the nine increased in Gross Gaming Revenue (GGR), with the exceptions of BetMGM NY and PointsBet NY.
DraftKings Sportsbook NY had a big month with a handle of more than $422.2 million. That is a significant increase of more than $177.66 million from August ($244.54 million). It also was its highest month yet.
DraftKings also had its highest month to date in GGR with more than $44.86 million.
New Season Starts Should Boost Numbers
With football in its second quarter of the season, two new seasons can be factored in over the next three months of numbers reporting.
The National Hockey League (NHL) started its regular season in earnest Oct. 11 and the National Basketball Association (NBA) will start its 2022-23 campaign Oct 18.
With Major League Baseball’s Divisional Playoffs under way and college basketball set to begin in November, the numbers not only will hold but certainly increase as we head deeper into autumn and the holiday seasons.
For monthly revenue reports and top NY sportsbook promos, check NewYorkBets.com.