The sports calendar has slowed, which means New York’s online sports betting handle has dipped as a result.
For the first time since Jan. 8 launch, NY online sportsbooks posted back-to-back weeks of sub-$300 million bet totals.
According to the NY State Gaming Commission’s report, the weekly handle totals from May 9-15 ($286.2 million) and May 16-22 ($261.2 million) represent the lowest full weekly handle totals for NY.
NY sports betting handle could be down until NFL season
Granted, it’s not exactly a surprise at this time of year; the leaner summer months with fewer sports betting options on the menu. In fact, weekly totals may not begin to significantly increase until the start of the NFL season.
Overall, from Jan. 8-May 22, NY online sports betting handle has totaled $7.2 billion, with $516.6 million in total gross gaming revenue (GGR) and $263.5 million in tax revenue for New York.
NY is slated to reach the $1 billion mark in handle for its fifth consecutive month since launch; May handle is currently $926.2 million through the 22nd.
FanDuel NY runs the show in the Empire State
Continuing its NY dominance, FanDuel Sportsbook NY posted a 44% market share and a 63% revenue share from May 16-22. The operator has gone over 40% market share in nine consecutive weeks.
The New York online sports betting market share percentage from Jan. 8-May 22:
- FanDuel: 39%
- DraftKings: 24%
- Caesars: 22%
- BetMGM: 9%
- Total: 94%
The NY online sports betting revenue share percentage from Jan. 8-May 22:
- FanDuel: 44%
- Caesars: 24%
- DraftKings: 23%
- BetMGM: 5%
- Total: 96%
If those numbers show anything, it’s that if you’re a smaller operator in NY, good luck. Eight of the nine NY online sportsbooks have launched, with Bally Bet NY slated to launch by July 1.