Streak Of Billion-Dollar Months Continues As New York Nears $25 Billion In Lifetime Handle

Written By Grant Lucas on June 9, 2023
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For the ninth straight month, online sports betting in New York generated over $1 billion in monthly handle.

According to data from the New York State Gaming Commission, NY sportsbooks accepted $1.36 billion in bets during the month of May. While extending the run of consecutive months going over $1 billion in handle, it does mark the lowest total in the Empire State since September.

What May’s total did do was inch NY sports betting closer to history. Through 17 months, online sportsbooks in New York have combined for $24.1 billion in accepted bets. This month, the industry will cross $25 billion.

The state already reached two milestones in May. With sportsbooks accumulating over $2 billion in gross gaming NY sports betting revenue, New York also eclipsed $1 billion in state tax revenue.

FanDuel, DraftKings continue to dominate NY sports betting

With just over $561 million in May handle, FanDuel Sportsbook NY upped its lifetime total to nearly $9.8 billion, putting the market leader on the threshold of its own milestone. Meanwhile, DraftKings Sportsbook NY accepted over $471 million in bets last month. As a result, the sportsbook’s lifetime handle sits at just shy of $7.2 billion.

Together, FanDuel and DraftKings have accounted for over 70% of accepted bets since online sports betting in New York launched just over a year ago.

Only Caesars Sportsbook NY ($3.8 billion) and BetMGM New York ($1.9 billion) have exceeded the $1 billion handle mark.

For what it’s worth, FanDuel topped $1 billion in gross gaming revenue, the first NY sportsbook to do so. For perspective, that total represents 48% of the market share and nearly doubles the runner-up (DraftKings, $572,578,375).

Online SportsbookHandleGross Gaming RevenueTax
Bally Bet$2,221,206$173,560$88,516
Resorts WorldBet$4,260,285$416,605$212,469

Get used to the NY sports betting decline

As noted, May marked the ninth straight month of NY sports betting topping $1 billion in online handle.

Surely, though, that streak will snap soon.

Recall a year ago, after launching in January 2022, that New York online sports betting generated six straight billion-dollar months. The run ended in July before picking up again in September.

Naturally, that comes as a result of fewer major sports on which to wager. The NBA Finals and NHL Stanley Cup Final will wrap up this month. Perhaps NY sportsbooks can just get over the billion-dollar hump one more time.

But once July and August arrive, the betting public will only have MLB to bet on. The dog days of summer will be in full swing, and the revenue reports certainly will reflect that.

Photo by Mary Altaffer / 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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