The record books are being rewritten by New York sportsbooks.
For the fourth time in less than a year, NY sports betting operators combined to accept over $2 billion in legal online bets in September. This time, though, it’s a near-unprecedented figure, as sportsbooks totaled $2.07 billion in handle during the month of September, according to data from the New York State Gaming Commission.
As a result, the Empire State becomes the second jurisdiction to surpass $50 billion in lifetime handle. Only neighboring New Jersey has accomplished that feat. The only difference: It took NJ six years; New York needed less than three.
If all of that weren’t enough, September also resulted in the highest gross gaming revenue total for NY sportsbooks, who reported $204.7 million resulting in over $104 million in state tax revenue.
Upset-filled NFL season leads to near-records
The return of NFL betting in NY certainly provided a boon for operators in the Empire State.
Not only in the amount wagered by bettors but also in gross gaming revenue pocketed by the sportsbooks.
Consider that GGR from operators: At nearly $205 million, it ranks as the second-highest total generated in New York, narrowly falling short of the $211.5 million reported in January.
It would not be a stretch to make the connection to the string of upsets seen over the first few weeks of the NFL season.
After all, over through the opening four weeks, underdogs of 5.5 points or more went 18-4 against the spread and won 11 games outright.
Breaking down NY sports betting landscape
The near-records seen in September should not overshadow the landmark moment achieved by NY sportsbooks.
Since launching in January 2022, New York operators have now combined to exceed $51 billion in lifetime handle. Only New Jersey ($53.8 billion) has taken in more bets, and the Garden State got a four-year head start.
Additionally, New York is well on its way to rewriting single-year history, with sportsbooks combining for $15.8 billion in handle through September, needing less than $4 billion to top the $19.1 billion reported in 2023. Similarly, overall NY sports betting revenue stands at $1.5 billion; in 2023, operators generated nearly $1.7 billion.
Takeaways from September sports betting report
DraftKings, FanDuel continue to duel
The top of the market remains the same, with DraftKings Sportsbook NY leading the state with $788.3 million in handle for its second-best month ever.
Its $69.7 million in revenue, while third-best for DraftKings, was second to FanDuel Sportsbook NY, which, along with its $784.2 million in handle, reported its second-best month to date at $97.9 million.
Fanatics continues to rise in NY
Fanatics Sportsbook NY has started to settle in now.
The operator second a single-month handle record for the second straight month, this time a total of $143.2 million in September, which was fifth in the state. That was just behind BetMGM Sportsbook NY, which reported $143.9 million for its third-best month to date.
BetMGM also had its best month in terms of revenue at $10.3 million, topping the previous total set in January.
ESPN Bet makes most of short September
Toward the end of September, ESPN Bet NY was approved and soft-launched in New York. While the operator missed the majority of the month, it made the most of its short time in September.
The overall total of just over $4 million in handle and $103,273 in revenue ranked last in the industry. However, ESPN Bet was only operational for a few days. In the week ending Sept. 29, its first couple of days live in the Empire State, the sportsbook reported over $3 million in handle.
For comparison, over the following week ending Oct. 6, ESPN Bet totaled over $9 million in accepted wagers and nearly $1.2 million in revenue.
Online Sportsbook | Handle | Gross Gaming Revenue | Tax |
---|---|---|---|
DraftKings | $788,314,334 | $69,705,224 | $35,549,664 |
FanDuel | $784,185,463 | $97,959,724 | $49,959,459 |
Caesars | $147,202,505 | $13,043,864 | $6,652,371 |
BetMGM | $143,893,873 | $10,271,213 | $5,238,319 |
Fanatics | $143,196,432 | $8,420,579 | $4,294,495 |
BetRivers | $43,365,858 | $3,535,474 | $1,803,092 |
Bally Bet | $10,701,561 | $1,065,148 | $543,225 |
Resorts WorldBet | $6,638,825 | $606,436 | $309,282 |
ESPN Bet | $4,016,258 | $103,273 | $52,669 |
Total | $2,071,515,109 | $204,710,935 | $104,402,576 |