Football has returned. And with it the anticipated bounce-back of handle totals reported by online sportsbooks in New York. Revenue, though, did not follow suit.
According to data from the New York State Gaming Commission, NY sports betting accepted $1.44 billion in bets for the month of August. While that handle represents the best August ever by operators in the Empire State, gross gaming revenue (GGR) came in at just under $125 million for the industry’s lowest mark since August 2023.
That said, last month marked the 14th straight in which NY sportsbooks reported year-over-year handle increases. On top of that, the GGR total was 26.9% higher than the same month last year, making August the fifth consecutive month with year-over-year increases.
Big landmarks approaching for NY sports betting
The NY sports betting industry now hits the homestretch of 2024, which could feature more state records as the college football and NFL seasons kick into full swing.
At the very least, sportsbooks here will once again set annual highs for handle and revenue.
After all, through eight full months, NY sportsbooks have combined for some $13.69 billion in accepted bets, 22% ahead of the 2023 pace. What’s more, operators have reported $48.98 billion in lifetime handle. The industry should blow by the $50 billion mark within the next few weeks.
Breaking down NY sportsbooks for August 2024
After two straight months of trailing FanDuel, DraftKings Sportsbook NY reported the highest handle in August with $526.7 million.
Once again, however, FanDuel Sportsbook NY was the GGR market leader at $52.6 million. It was the 30th straight month that FanDuel led all NY sportsbooks in gross gaming revenue.
Other highlights included Fanatics Sportsbook NY reporting $93.1 million that was not only nearly $17 million more than the previous month but was also the best ever for the operator and its predecessor, PointsBet. Similarly, Fanatics reported $8.9 million in GGR for its second-best total to date. For perspective, in August 2023, PointsBet totaled just $17.1 million in handle and just over $914,000 in NY sports betting revenue.
Finally, Resorts WorldBet had its second-best month in terms of handle at $8.6 million.
| Online Sportsbook | Handle | Gross Gaming Revenue | Tax |
|---|---|---|---|
| DraftKings | $526,657,397 | $43,304,282 | $22,085,184 |
| FanDuel | $511,621,543 | $52,606,267 | $26,829,196 |
| BetMGM | $127,934,339 | $7,032,890 | $3,586,774 |
| Caesars | $119,943,452 | $9,435,039 | $4,811,870 |
| Fanatics | $93,079,205 | $8,482,866 | $4,326,262 |
| BetRivers | $40,704,547 | $3,183,320 | $1,623,908 |
| Resorts WorldBet | $8,563,824 | $548,870 | $279,924 |
| Bally Bet | $7,638,017 | $406,241 | $207,183 |
| Total | $1,436,142,323 | $124,999,775 | $63,750,301 |
Football is back, NY sports betting records will fall
There is certainly much to look forward to this football season in New York. Not only to see if Aaron Rodgers can lead the Jets back to prominence or if Josh Allen can push the Bills back into Super Bowl contention, but also because of the records NY sportsbooks could set this fall.
It was October 2023 when the industry became the nation’s first to cross $2 billion monthly handle mark. Sportsbooks repeated the feat in November and again in December.
There’s little doubt that operators will do it again at some point this fall, but could they do it as early as September? As noted, each of the past 14 months has seen year-over-year increases in monthly handle. In September 2023, NY sportsbooks generated nearly $1.76 billion in accepted wagers. Hitting $2 billion this time around would not surprise.
If that weren’t enough, the Empire State should welcome ESPN Bet NY any day now. Late last month, executives with the sportsbook said they were “ready to go” and set to “press that button to launch.”
