New York Online Sports Betting Handle Is Less Than $300 Million — Again

Written By Mike Mazzeo on June 3, 2022
new york sports betting revenue week 4 may 2022

The final three full weeks of May have not been stellar for sportsbooks in New York. But the trend appears likely to remain for the near future.

New York’s online sports betting handle is under $300 million for a third consecutive week:

  • May 9-15: $286.2 million 
  • May 16-22: $261.2 million 
  • May 23-29: $271.9 million 

Why NY online sports betting handle is down

This decline seems like a trend for online sportsbooks in New York. However, it’s not necessarily a surprise given where we are in the annual sports betting calendar, post-Super Bowl and March Madness. As previously mentioned, there may not be a significant increase until the start of the NFL season. 

According to the NY State Gaming Commission’s report, total gross gaming revenue in New York was down to $13.8 million from May 23-29, the lowest it has been since $12.9 million from April 25-May 1. The previous three weeks’ total GGR had been $37 million, $31 million and $23.5 million. 

Regardless, NY’s overall online sports betting numbers from Jan. 8 launch through May 29 remain robust. Here are the year-to-date totals:

  • Handle: $7.4 billion 
  • Total GGR: $530.5 million 
  • Tax Revenue: $270.5 million 

Earlier this week, Gov. Kathy Hochul praised the state for setting the sports betting tax revenue record.

“In less than half a year, New York has become a leader among states in implementing successful gaming policies, with hundreds of millions of dollars going to important programs that will improve the lives of all New Yorkers. I am committed to upholding responsible and effective gaming policies that will move the industry forward and continue to drive our state’s economic growth.”

FanDuel NY continues to be No. 1 online sportsbook

FanDuel continues to set the pace for NY, producing a 45% market share and 61% revenue share from May 23-29. The Empire State’s No. 1 sportsbook has had a market share of over 40% for 10 consecutive weeks (39% since launch). 

No. 2 DraftKings had a 26% market share and 14% revenue share from May 23-29. 

From Jan. 8-May 29, FanDuel (44%), DraftKings (23%) and Caesars (23%) have combined for 90% of the revenue share. 

NY Online SportsbookHandle (May 23-29)Gross Gaming Revenue
BetMGM Sportsbook NY$25,580,388$1,502,316
BetRivers Sportsbook NY$6,965,401$39,570
Caesars Sportsbook NY$38,568,006$1,561,717
DraftKings Sportsbook NY$71,069,186$1,851,456
FanDuel Sportsbook NY$121,629,980$8,378,829
PointsBet Sportsbook NY$4,122,066$488,172
Resorts WorldBet NY$1,661,297($103,575)
WynnBet NY$2,288,059$117,965
TOTAL$271,884,384$13,836,449
Photo by John Minchillo / AP
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Mike Mazzeo

Mike Mazzeo is the Lead Writer for PlayNY, arriving after covering several of New York's professional sports teams in a variety of roles for the past decade. Previously, he served as a beat writer and columnist covering the Brooklyn Nets (ESPN) and New York Yankees (New York Daily News). Mike also covered both the MLB and NBA nationally for Yahoo Sports. In addition, he served as a general assignment reporter for ESPN NewYork.com. He has also had bylines in the New York Times, New York Post, Newsday, Forbes and The Ringer. With PlayNY, Mike brings extensive coverage and unique story angles to what is projected to be one of the biggest and most lucrative online sports betting markets in the country. It's been an arduous and confounding process to get here, but 20 million New Yorkers (many of them die-hards) are now legally able to bet on their favorite sports teams across the state via online and mobile platforms.

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