The streak of consecutive months posting $1 billion in handle has ended for New York.
Nine online sportsbooks combined for $800.8 million in handle for the month of July, according to figures released by the New York State Gaming Commission, ending the NY sports betting run of six straight months exceeding $1 billion in accepted bets.
Even so, that $800 million mark stands as the new record by any US jurisdiction in the month of July. New Jersey previously held the record, $577 million set last summer.
Down month surely expected for New York
The sub-$1 billion handle comes as no surprise. It was most certainly expected.
After all, as previously and frequently reported, Major League Baseball stands as the lone major professional sport still in action. It seems fitting, in fact a little humorous, that many paint July 2022 as a “down” month for online sports betting in New York.
Factually, yes, that is the case. New York sportsbooks took in a lower total than the month before.
But consider the following: No other jurisdiction in the history of legal sports betting in the United States has gone over $580 million in the month of July. Last month, New York did just that — by putting up $801 million in handle.
It would be a stretch to believe NY online sportsbooks could return to the billion-dollar threshold in August. But another national record for that month could certainly be in order.
Breaking down NY sports betting by sportsbook
While the billion-dollar run has ended, constants still remain for online sports betting in New York.
For starters, FanDuel Sportsbook NY continues to reign as the industry leader, with its $347.7 million in handle claiming 43.4% of the market in July.
That said, DraftKings Sportsbook NY has slowly climbed the rankings. Last month, DraftKings reported $213.5 million in handle for 26.7% of the market. That represents the highest share percentage since the NY sportsbook went live in January. Meanwhile, Bally Bet New York posted its first revenue numbers since launching last month: just over $40,000 in gross gaming revenue off $640K in handle.
Combined, online sportsbooks in New York generated $73.3 million in NY sports betting revenue.
| Online Sportsbook | Handle | Gross Gaming Revenue | Tax |
|---|---|---|---|
| FanDuel | $347,707,360 | $38,992,903 | $19,886,381 |
| DraftKings | $213,486,612 | $15,783,928 | $8,050,036 |
| Caesars | $118,202,244 | $8,650,975 | $4,411,997 |
| BetMGM | $73,234,636 | $6,272,876 | $3,199,167 |
| BetRivers | $20,277,402 | $1,166,472 | $594,901 |
| PointsBet | $16,452,890 | $1,719,696 | $877,045 |
| WynnBet | $6,047,638 | $431,990 | $220,315 |
| Resorts WorldBet | $4,703,834 | $262,309 | $133,778 |
| Bally Bet | $640,397 | $40,080 | $20,441 |
| Total | $800,753,012 | $73,321,229 | $37,393,827 |
