NY Sportsbooks Start 2024 Strong With Highest Revenue Month Ever In January

Written By Grant Lucas on February 10, 2024 - Last Updated on July 8, 2024
Buffalo Bills Dawson Knox celebrates for a story on the January 2024 New York sports betting revenue report

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 SportsbookHandleGross Gaming RevenueTax
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
Photo by Adrian Kraus / AP Photo
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Grant Lucas

Grant Lucas is the managing editor for PlayNY. A longtime, award-winning sports writer, Grant has covered gambling and legal sports betting since 2018, when he got his start reporting on the New Jersey and Pennsylvania industries. He now oversees PlayNY as New York expands legalized gambling to sports betting and online casino gaming.

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