It’s starting to become a curiosity if sports betting in New York will have a month where something remarkable DOESN’T happen.
After a record-breaking 2023, NY sportsbooks kicked off 2024 in style with a near-$2 billion month in handle en route to their highest revenue month ever since launching two years ago.
According to data from the New York State Gaming Commission, online sportsbooks accepted $1.96 billion in bets for the month of January, snapping a streak of three straight months exceeding $2 billion.
But the highlight comes under the revenue header: With $211.5 million in gross gaming revenue, sportsbooks in the state set the single-month record while also generating a record $107.9 million in tax revenue.
Sportsbooks kick off 2024 with revenue records
While online sports betting in New York finished 2023 in record-breaking fashion, the industry got off to its strongest start to a year yet.
While the $1.96 billion in accepted wagers broke the run of three straight $2 billion months, it still ranks as the fourth-highest total since the state launched online sportsbooks in January 2022. It also represents an 8.5% increase when compared with January 2023.
The revenue total had an even greater spike, with the $211.5 million – the first month in New York surpassing $200 million – reflecting an impressive 29.3% year-over-year increase. December previously stood as the all-time high, clocking in at $188.3 million.
On top of it all, state tax revenue from sports betting in NY also saw a 29.3% jump and its highest total yet with $107.9 million. That total came after December previously set the monthly record of $96 million.
Breaking down how operators fared in January
Each month, FanDuel Sportsbook NY grabs the spotlight as the market leader. In January, it was no different as the operator reported $867 million in handle for its third-best month to date and its fourth straight month exceeding $800 million.
To boot, the $109.2 million in NY sports betting revenue stands as FanDuel’s best month in New York.
Both DraftKings Sportsbook NY ($70.97 million) and BetMGM Sportsbook NY ($10 million) posted single-month highs in revenue. Meanwhile, PointsBet Sportsbook NY had its best month since January 2023 with $31.7 million in handle and $2.6 million in revenue.
Not to be completely overlooked, Bally Bet Sportsbook NY reported $9.4 million in handle to easily set a single-month record for the operator. It also saw a monthly high in revenue at $425,689. For perspective, over the previous six reported months, Bally Bet had just over $460,000 total.
In 14 months of operation heading into January, the platform reported $899,396. In January alone, Bally Bet clocked in at 47.3% of that total.
Online Sportsbook | Handle | Gross Gaming Revenue | Tax |
---|---|---|---|
FanDuel | $867,058,410 | $109,174,169 | $55,678,826 |
DraftKings | $664,793,870 | $70,966,969 | $36,193,154 |
Caesars | $197,998,552 | $13,646,162 | $6,959,543 |
BetMGM | $118,847,480 | $10,012,451 | $5,106,350 |
BetRivers | $50,131,180 | $3,535,080 | $1,802,891 |
PointsBet | $31,701,219 | $2,633,318 | $1,342,992 |
Bally Bet | $9,390,870 | $425,689 | $217,101 |
WynnBet | $8,751,556 | $358,497 | $182,833 |
Resorts WorldBet | $6,917,227 | $752,478 | $383,764 |
Total | $1,955,590,364 | $211,504,813 | $107,867,454 |