The New York State Gaming Commission has reported that online sportsbooks accepted more than $2 billion in wagers during October, the highest total since the industry launched.
According to the report, the state’s eight active online sports betting operators generated combined gross gaming revenues (GGR) of $166.3 million during October resulting in $84.8 million in tax revenue for the state.
The latest figures mean that since New York sports betting launched online in January 2022, there have only been three months when mobile sports betting handle failed to break the $1 billion mark while October is the first time in history that handle has broken the $2 billion threshold.
The latest report also reveals that New Yorkers have now wagered over $39.6 billion on sports since the industry launched with $29.1 billion of that figure coming through mobile sportsbooks. This has resulted in over $1.3 billion in tax revenue for the state while sports betting operators have generated $2.6 billion in revenue.
Historical Sports Handle, Revenues & Taxes in New York
| Period | Total Handle | Mobile Handle | Sportsbook Revenue | Win % | State Taxes |
|---|---|---|---|---|---|
| Jan 2023 | $1,799,048,376 | $1,788,991,455 | $149,886,749 | 8.33% | $76,258,333 |
| Feb 2023 | $1,474,299,932 | $1,466,956,555 | $108,470,835 | 7.36% | $55,251,455 |
| Mar 2023 | $1,792,885,346 | $1,785,952,977 | $163,582,117 | 9.12% | $83,132,673 |
| Apr 2023 | $1,550,014,914 | $1,544,465,378 | $139,265,046 | 8.98% | $70,843,702 |
| May 2023 | $1,363,794,316 | $1,358,583,506 | $152,643,135 | 11.19% | $77,571,234 |
| Jun 2023 | $1,170,989,676 | $1,166,390,859 | $103,956,641 | 8.88% | $52,976,398 |
| Jul 2023 | $966,555,215 | $962,126,094 | $105,510,884 | 10.92% | $53,666,714 |
| Aug 2023 | $1,118,163,959 | $1,112,768,221 | $99,241,793 | 8.88% | $50,310,977 |
| Sep 2023 | $1,767,913,850 | $1,759,236,826 | $166,834,225 | 9.44% | $84,563,885 |
| Oct 2023 | $2,017,934,931 | $2,006,823,408 | $167,528,575 | 8.30% | $84,827,397 |
| Totals | $15,021,600,515 | $14,952,295,279 | $1,356,920,000 | 9.14% | $689,402,768 |
FanDuel Takes Over as Market Leader
FanDuel and DraftKings combined to take in more than $1.54 billion in wagers during the month of October accounting for 76.7% of the online sports betting market.
| Operator | Handle | GGR |
|---|---|---|
| DraftKings | $652.3 million | $59.2 million |
| FanDuel | $891.9 million | $83.1 million |
| Caesars | $193.2 million | $10.8 million |
| BetMGM | $107.5 million | $7.1 million |
| BetRivers | $114.1 million | $3.3 million |
| PointsBet | $27.6 million | $1.2 million |
| WynnBet | $12.3 million | $313,362 |
| Resorts World Bet | $7.6 million | $894,039 |
| Bally Bet* | $0 | $0 |
| Total | $2 billion | $166.3 million |
*Bally Bet temporarily closed as operator migrates sports betting platform to Kambi.
Ciaran has been working within the Gambling Industry as a deep analyst since 2019. His deep knowledge and understanding of all the gambling regulations, and processes makes him a true asset, and an always valuable point of view for Gambling Industry News, allowing us to cover every topics from a brand new perspective.