For the first time ever, a state has generated over $2 billion in accepted bets during a single month.
According to data from the New York State Gaming Commission, NY sportsbooks combined for $2.006 billion in October handle, setting a US record for most bets placed in one state.
On top of that, the record-setting month propelled the industry past $30 billion in lifetime handle, becoming just the third US jurisdiction to reach the mark in less than two years.
NY sports betting makes history, closes in on national leaders
The three biggest months in the brief history of online sports betting in New York have come in 2023. All three times, NY sportsbooks neared $1.8 billion, including the previous high of $1.79 billion in January.
Now, New York can claim history as the first to top $2 billion. In addition, the industry joined elite company.
Only New Jersey at $41.5 billion and Nevada at $35.2 billion have totaled over $30 billion in lifetime handle since the US Supreme Court repealed PASPA in 2018. Both state, of course, featured online sports betting in 2018, while New York obviously didn’t make its digital debut until January 2022.
The October successes don’t stop there for New York, which also saw a state-record $166.3 million in gross revenue, which resulted in a record $84.8 million in state tax revenue.
October breakdown of NY sportsbooks
Of course, a month of highs and firsts stem from the performance of the individual operators.
For example, FanDuel Sportsbook NY reported its highest – and, thereby, the state’s highest – monthly handle in October with $891.9 million. It also boasted the highest revenue at $83.1 million.
As per usual, DraftKings Sportsbook NY was right behind with $652.3 million in handle and $59.3 million in NY sports betting revenue, both of which stand as the sportsbook’s second-highest totals. At $9.8 billion in lifetime NY handle, DraftKings is on the doorstep of joining FanDuel as the only NY sportsbooks to cross $10 billion in accepted bets.
Of note, BetRivers Sportsbook NY posted a whopping $114.2 million in October handle, by far its highest monthly total, eclipsing the $50 million figure it reported in September. It was also the first time BetRivers cracked the market’s top four, bumping down BetMGM.
|Online Sportsbook||Handle||Gross Gaming Revenue||Tax|