New York Experiences Most Profitable Week in Its Sports Betting History

(from left) New York Jets punter Thomas Morstead (5), safety Tony Adams (22) and linebacker Jamien Sherwood (44) celebrate the sack-fumble by the Buffalo Bills in the second half. The Jets defeat the Bills in overtime, 22-16, in the home opener at MetLife Stadium on Monday, Sept. 11, 2023, in East Rutherford.

New York online sports betting smashed its previous record for most profitable week in sports betting history.

The New York State Gaming Commission reported a whopping $62.04 million in gross gaming revenue for the week ending Oct. 15, the highest gross gaming revenue weekly total since the state launched sports betting in January 2022.

The state broke its previous record by nearly $5 million.

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Most Profitable Week Ever

New York took in $62,042,634 in gross gaming revenue, topping its previous weekly high of $57,459,178 that it set for the week ending Jan. 22, 2023. FanDuel topped all operators with $29.5 million in gross gaming revenue.

New York took in more than $31.6 million in online sports betting tax revenue for the week.

The state reported $402,719,353 in online sports betting handle for the week, nearly a $9 million increase from the previous week. FanDuel reported $159.94 million in sports betting handle, tops in the state, edging out DraftKing’s reported $145.94 million total.

The New York State Gaming Commission releases handle and revenue reports for 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 Oct. 15:

FanDuel NY: $159,940,580DraftKings NY: $145,949,308Caesars Sportsbook NY: $42,474,081BetMGM NY: $22,310,019BetRivers: $22,705,350PointsBet: $5,500,124WynnBET: $2,409,323Resorts World: $1,430,567Bally Bet: $0

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 ceased operations on June 22 while it transitions to Kambi’s sports betting platform. It has launched again in several states, but is still waiting to begin operations in New York.

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 $11 billion in total handle so far.

FanDuel: $12,033,829,666DraftKings: $9,501,964,514Caesars: $4,423,475,922BetMGM: $2,278,354,161BetRivers: $830,389,318PointsBet: $671,997,183WynnBET: $180,605,336Resorts World: $108,544,719Bally Bet: $16,370,924

NY Sports Betting Revenues

For the week of Oct. 15, the nine sportsbooks reported a total of $62,042,634 in gross gaming revenue. At New York’s 51% online sports betting tax rate, this resulted in $31,641,743million in tax revenue, its highest weekly total ever.

Here are the total gross gaming revenues for the week:

FanDuel: $29,551,595DraftKings: $23,033,979Caesars: $4,923,947BetMGM: $3,117,449PointsBet: $608,338BetRivers: $383,836Resorts World: $281,061WynnBET: $142,428Bally Bet: $0

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

FanDuel: $1,262,857,906DraftKings: $777,074,162Caesars: $325,835,521BetMGM: $153,970,875BetRivers: $47,992,229PointsBet: $40,928,082WynnBET: $10,615,203Resorts World: $6,272,076Bally Bet: $917,669