New York Hits $2 Billion in Online Sports Betting Handle For Second Consecutive Month

Oct 26, 2023; Orchard Park, New York, USA; Buffalo Bills tight end Dalton Kincaid (86) celebrates scoring a touchdown against the Tampa Bay Buccaneers in the second quarter at Highmark Stadium. Mandatory Credit: Mark Konezny-USA TODAY SportsNew York online sports betting totaled more than $2.1 billion in handle for the month of NovemberThe Empire State eclipsed October’s record setting mark of $2.006 billionNew York took in more than $76.9 million in sports betting tax revenue for the month

New York, New York, it’s a hell of a sports betting town (state).

For the second month in a row, the Empire State has eclipsed $2 billion in online sports betting handle. The New York State Gaming Commission reported $2.1 billion in handle for the month of November, topping October’s record setting mark of $2.006 billion.

The state took in more than $76.9 million in sports betting tax revenue for the month.

Record Setting Handle Mark

No state in the country has totaled more than $2 billion in online sports betting handle for a single month. New York has now reached that impressive total for two consecutive months.

After the week ending Nov. 26, New York needed to record just $22 million from Nov. 27 to 30 to cross the $2 billion mark yet again. It reached that mark and more, totaling $2,109,294,400 in online sports betting handle for November. Gross gaming revenue totaled $150,903,281 for the month, a decline of more than $16 million from October’s $166.3 million total.

The New York State Gaming Commission reported $486,725,004 in online sports betting handle for the week ending Dec. 3.

FanDuel again topped all operators in terms of handle the week, totaling $196.6 million in online sports betting handle and $12.2 million in gross gaming revenue. DraftKings totaled $193.6 million in handle, but eclipsed FanDuel with its $13.5 million gross gaming revenue mark.

The New York State Gaming Commission releases handle and revenue reports for its nine NY sports betting apps, Caesars Sportsbook, DraftKings Sportsbook, FanDuel, BetMGM, WynnBET, PointsBet, Bally Bet, Resorts World Bet, and BetRivers, at the conclusion of each week.

Here are the handle breakdowns for the nine sportsbooks for the week ending Dec. 3:

FanDuel NY: $194,664,678DraftKings NY: $193,588,844Caesars Sportsbook NY: $45,765,735BetMGM NY: $25,076,947BetRivers: $15,938,847PointsBet: $5,994,222WynnBET: $2,303,410Resorts World: $1,910,599Bally Bet: $1,481,723

Fanatics Sportsbook will likely take over the PointsBet New York online sports betting license soon. The New York State Gaming Commission recently gave regulatory approval for the transfer of PointsBet’s online sports betting license to Fanatics Betting and Gaming, setting the stage for the first new sports betting operator in the Empire State since it launched online sports betting in Jan. 2022.

There is no timeline for the transfer of the license.

Bally Bet has resumed operations in New York after transitioning to its Kambi platform.

Here are the total handles for the nine sportsbooks since New York’s Jan. 8, 2022 launch. FanDuel is the only operator in the state to eclipse $13 billion in total handle so far.

FanDuel: $13,584,170,041DraftKings: $10,653,547,092Caesars: $4,753,883,159BetMGM: $2,468,456,006BetRivers: $983,733,761PointsBet: $716,745,489WynnBET: $199,595,618Resorts World: $120,377,251Bally Bet: $21,455,509

NY Sports Betting Revenues

For the week of Dec. 3, the nine sportsbooks reported a total of $32,430,469 in gross gaming revenue. At New York’s 51% online sports betting tax rate, this resulted in $16,539,539 million in tax revenue.

Here are the total gross gaming revenues for the week:

DraftKings: $13,492,835FanDuel: $12,297,756Caesars: $2,883,644BetMGM: $1,964,276BetRivers: $1,107,822PointsBet: $328,909WynnBET: $106,710Bally Bet: $103,886Resorts World: $13,932

Here are the total gross gaming revenues since the Jan. 8, 2022 launch:

FanDuel: $1,379,982,733DraftKings: $862,873,704Caesars: $344,301,455BetMGM: $165,181,838BetRivers: $55,971,389PointsBet: $43,944,200WynnBET: $10,490,810Resorts World: $7,131,599Bally Bet: $1,201,563