A mixed bag of mobile sports wagering numbers for the month of May was officially posted Thursday by the New York State Gaming Commission (NYSGC).
Here are three takeaways from May’s monthly report:
Total Handle Lowest This YearÂ
The state registered more than $1.26 billion – its lowest for 2022 – in total monthly handle. That is a more than $127.29 million (9.2%) decrease from April's mark of $1.39 billion.
However, the Empire State has registered more than $1 billion in total handle in each of the five months of official mobile sports wagering reports posted by the NYSGC.
May posted an increase of retail sports betting handle upstate at its four retail casinos, coming in at more than $6.38 million, up 6.1% from last month.
Gross Gaming Revenue (GGR) Highest Since March
New York’s highest total mobile Gross Gaming Revenue (GGR) since March was posted in May at more than $109.79 million, up 5.4% from April’s $104.14 million, an increase of more than $5.65 million.
March was above $114.28 million and the state’s largest was when the first official report was released in January at more than $124.13 million.
May’s total sports betting revenue – GGR, mobile and retail combined – posted at more than $110.42 million, up 5.6% from April ($104.54 million). Retail sports betting GGR in the state skyrocketed to $629,230, up 59.6% from last month’s $394,273.
Five of the eight providers had increases in GGR from April: FanDuel Sportsbook New York, DraftKings Sportsbook New York, BetMGM Sportsbook New York, PointsBet Sportsbook New York and WynnBet Sportsbook New York.
Bally Bet has not gone live as of yet and has not made it clear when it plans to do so.
Eight of the state’s nine online sports wagering operators since the lunch of mobile sports betting have combined for a handle of more than $7.48 billion and a GGR of more than $541.22 million. New York, with its 51% tax rate, has collected more than $276 million in taxes.
New York Baseball, Inflation Key to Continued State Success
With the New York Mets and New York Yankees continuing to have success on the baseball diamond, MLB bettors will continue to have opportunities and devote more attention moving forward.
Look at NewYorkBets.com during baseball season for updates and the latest New York sports betting promo codes.
However, with the decreases in handle from the majority of the providers, more bettors are keeping their money close to the vest due to the latest economic numbers and the rise of costs for everything here in the United States.
Both factors will be something to watch moving forward as we enter the football season.
