The Fourth Is With Them: NY Online Sportsbooks Exceed $1 Billion Handle For Fourth Straight Month

Written By Mike Mazzeo on April 29, 2022
NY Online Sports Betting $1 Billion Handle April Revenue New York

New York has gone over $1 billion in online sports betting handle during each of its first fourth months in business.

Online sportsbooks in the Empire State combined for $334.5 million in handle during the week ending April 24, bringing the monthly total to $1.1 billion.

That follows $1.7 billion in January, $1.5 billion in February and $1.6 billion in March.

Overall, NY online sportsbooks have combined for $6 billion in handle since the industry went live Jan. 8. As a result, the industry has generated $412.3 million in total gross gaming revenue and $210.3 million in tax revenue at a 51% tax rate.

Weekly revenue breakdown for NY sports betting

FanDuel Sportsbook NY ($145.3 million in handle) continued its domination in the Empire State, owning an industry-best 43.4% market share April 18-24. It also crushed bettors with a 14.6% hold to claim $21.2 million in total GGR.

Online sportsbookHandleGross Gaming Revenue
FanDuel$145,319,117$21,188,729
BetMGM$32,460,692$2,399,108
DraftKings$78,153,044$7,165,122
Caesars$54,234,037$3,929,040
WynnBet$2,307,443$127,273
PointsBet$10,475,477$858,915
Resorts WorldBet$1,740,711$111,536
BetRivers$9,798,123$679,843
Total$334,488,644$36,459,567

Meanwhile, DraftKings New York ($78.2 million in handle, $7.2 million in total GGR) remained in second with a 23.4% market share. Overall, NY online sportsbooks have combined for nearly $70 million in total GGR over the last two weeks off $647.7 million in handle.

Statewide, handle has remained relatively steady, although April seems as if it may conclude as the lowest-handle total for New York sports betting since launch.

Slow sports calendar awaits NY sports betting

Handle has stayed under $400 million over the last five weeks. And it will be interesting to see how online sports betting in New York fares following the Super Bowl and March Madness.

There is still plenty to bet on, including the MLB season and the NBA and NHL playoffs. But the promotional spend certainly isn’t what it used to be.

Online sportsbooks in New York won’t be getting their desired tax reduction this year, with the state continuing to rake in tax revenue at a record rate. Still, NY online sports betting operator expansion could eventually take place down the line, leading to a reduction as a result.

Specifically, Sen. Joe Addabbo and Assemb. Gary Pretlow will be pushing for an expanded sports betting menu. As it stands, NY online sports bettors cannot wager on player future awards like MVP, Cy Young and the Heisman. New Yorkers could also not bet on the NFL Draft.

Photo by AP / Jeff Roberson
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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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