How NY Sports Betting Record Numbers Look Broken All The Way Down To The Bettor

Written By Grant Lucas on December 30, 2023
buffalo bills fans during dallas cowboys game for a story on new york online sports betting revenue in 2023

When online sports betting in New York launched, everyone expected great things. And the Empire State certainly lived up to that hype.

After roughly $16.2 billion in bets, after around $1.36 billion in gross gaming revenue (GGR) and over $693 million in state tax revenue, many wondered how NY sports betting might perform in Year 2.

Spoilers: Much better.

With still a full week yet to be reported by online sportsbooks in NY, the state has seen 2023 handle already eclipse $18.5 billion, leading to a record $1.7 billion in gross revenue. And as a result, New York has pocketed over $850 million in state tax revenue. All three, for the second straight year, are single-year records in the United States.

Big numbers like that can certainly grab attention. But to truly put them into perspective, let’s dive in a little deeper.

NY sports betting resets its own records in 2023

It’s a number frequently mentioned: How much could online sports betting in New York generate in state tax revenue?

This was the question asked months before the industry went live in January 2022. At that time, the maybe-reachable-if-things-really-go-our-way goal was $500 million annually.

Two years later, NY sportsbooks have made that projection seem far too low.

In 2022, they combined for over $693 million in tax revenue. This year, and again with still another full week to be reported, sportsbooks have generated $856.6 million for state education. So as the online sports betting industry nears its two-year anniversary, the state has realized a lifetime $1.54 billion in tax revenue.

“That first weekend in January of 2022, we broke national records with only four operators,” Sen. Joe Addabbo told PlayNY earlier this month. “My eyes were opened up then about really maximizing mobile sports betting in New York.

“And now you’re looking at it, here we are at the end of 2023, and it’s remarkable – both nationally and globally being perceived not only as the leader in the mobile sports market but the leader in the iGaming potential market.”

graphic of 2023 new york sports betting handle, revenue and state tax revenue compared to 2022

How much New Yorkers lost to sportsbooks in 2023

Again, big numbers – even when side by side – can only do so much. So, let’s go a step further.

We’ve established the record-breaking totals set in 2023 by online sportsbooks in New York. Consider how those look by the month (of course, with the last seven days in December not accounted for): $1.55 billion wagered, $251 million in NY sports betting revenue. By the day, even: $52 million in handle, $8.4 million in revenue.

But take it even a step further.

According to a July 2022 census, New York features around 15.7 million age-appropriate adults who could theoretically bet with online sportsbooks.

Using that as a metric, we can break the 2023 handle down to a per-person figure: $1,187.96 wagered by adults, compared with $1,032.99 in 2022. It also means that those eligible adults lost an average of $107.10 to NY sportsbooks in 2023, up from $86.72 a year ago.

graphic breaking down 2023 new york sports betting by day and by person

Photo by Jeff Lewis / AP Photo
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Grant Lucas

Grant Lucas is the managing editor for PlayNY. A longtime, award-winning sports writer, Grant has covered gambling and legal sports betting since 2018, when he got his start reporting on the New Jersey and Pennsylvania industries. He now oversees PlayNY as New York expands legalized gambling to sports betting and online casino gaming.

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