Online sports betting in New York topped $1 billion in monthly handle for the seventh time since launching in January.
With football back in full swing, NY sports betting apps generated over $1.2 billion in bets during the month of September, according to data released by the New York State Gaming Commission.
In September, betting apps in New York reported $143.3 million in gross gaming revenue for the highest monthly total in its short history. That resulted in more than $73 million in state tax revenue — also an industry record.
What to take away from NY sports betting numbers
Before New York launched online sports betting, and since PASPA was repealed in summer 2018, New Jersey and Nevada topped $1 billion in monthly handle three times apiece.
New York has done it seven times this year alone, proving again that the Empire State is king of legal sports betting.
Yet it would take something special for New York to reach $2 billion in a single month.
With September falling just below original NY sports betting revenue projections, it doesn’t appear as if the Empire State will become the first state to reach that handle mark, not without some unforeseen boom.
Part of that stems from a lack of NY sports betting promos and bonuses. When the industry launched in January, New York sportsbooks attracted customers with a slew of marketing promotions and free bets, all of which factored into those early-year monthly totals. Because of New York’s steep 51% tax rate, though, NY betting apps have shied away from big bonuses and promos.
Breaking down September NY sports betting revenue
While FanDuel Sportsbook NY claimed the majority market share once again with $499.8 million in handle, DraftKings Sportsbook NY posted its biggest month to date: $422.2 million.
Those two platforms combined for 73% of the NY sports betting market share, with Caesars Sportsbook NY coming in third with $163.2 million in handle.
|FanDuel Sportsbook NY||$499,820,541|
|DraftKings Sportsbook NY||$422,204,958|
|Caesars Sportsbook NY||$163,189,482|
|BetMGM Sportsbook NY||$95,667,759|
|BetRivers Sportsbook NY||$34,902,862|
|PointsBet Sportsbook NY||$23,878,986|
|WynnBet Sportsbook NY||$9,410,013|
|Resorts WorldBet NY||$6,365,836|
|Bally Bet Sportsbook NY||$1,263,605|
How rest of 2022 looks for New York
Projecting out the final three months of the year proves a difficult task, especially without a previous year with which to compare.
That said, in 2021, most states saw handle jump some 60% from August to September. New York, though, spiked roughly 44%. Heading into the football season, online sports betting in New York expected to reach $18 billion in 2022 handle. Now, it appears as if online NY sports betting will generate around $17 billion in 2022 handle.
While lower than initially projected, that still will set the record for highest handle in a calendar year.
In fact, New York has already set that mark.
With the near-$1.3 billion in September, online sports betting in New York has totaled $11.47 billion for 2022. The previous high was set by nearby New Jersey, a mark of $10.9 billion set in 2021.