New York Sports Betting Revenue

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At long last, New York has legal online sports betting.

The Empire State has featured regulated wagering since 2019 — but limited to only physical sportsbooks at casinos.

While that is better than nothing, the state has been missing out on a huge amount of revenue by failing to legalize online betting like its neighbors New Jersey and Pennsylvania.

Fortunately, in November 2021, the New York State Gaming Commission selected nine operators to launch betting apps in New York. The first online sportsbooks went live Jan. 8, 2022, in time to capitalize on the NFL playoffs and the Super Bowl. In the first month of online betting in New York, sportsbooks generated nearly $1.7 billion in wagers placed.

Before diving in, it’s important to grasp the terminology within the sports betting world:

  • Handle: Amount of money wagered by bettors
  • Gross gaming revenue: Total handle minus winnings paid out
  • Hold: Percentage of the handle that was won by a sportsbook, calculated by dividing gross gaming revenue by handle
  • Tax revenue: Amount of money regulators collect from sportsbook operators

Lifetime New York Sports Betting Revenue Totals

6226331995
Dollars of sports wagers online

Lifetime NY sports betting handle

467325127
Dollars of online and retail sports betting revenue

Lifetime NY sports betting revenue

216726918
Dollars of online sports betting tax

Lifetime NY online sports betting tax

Last updated: May 9, 2022

Online

Online SportsbookHandleGross Gaming RevenueTax
BetMGM$551,709,307$17,420,639$8,884,526
BetRivers$150,136,273$6,662,498$3,397,874
Caesars$1,439,936,435$112,159,295$57,201,241
DraftKings$1,507,130,393$102,066,644$52,053,989
FanDuel$2,358,098,964$173,167,837$88,315,597
PointsBet$184,345,003$10,112,009$5,157,124
Resorts WorldBet$10,727,313$853,946$435,512
WynnBet$24,248,310$2,511,872$1,281,056
Total$6,226,331,995$424,954,740$216,726,918

Retail

CasinoHandle*Gross Gaming Revenue
Del Lago$52,990,743$13,794,112
Resorts World$30,666,872$27,911,414
Rivers$84,196,673$18,731,697
Tioga Downs$13,724,720$3,616,485
Total$181,579,008$42,370,387

*Since NYSGC began reporting handle in April 2021

Monthly New York Sports Betting Revenue Reports

Here is a look at how each month of New York sports betting has gone, starting with the most recent report release (of note, casinos were closed April-August 2020 due to the coronavirus pandemic):

April 2022

Online

Online SportsbookHandleGross Gaming RevenueTax
BetMGM$142,155,809$4,980,574$2,540,093
BetRivers$37,987,120$1,809,025$922,603
Caesars$215,747,442$11,803,413$6,019,741
DraftKings$327,051,970$19,637,003$10,014,872
FanDuel$599,485,964$63,588,526$32,430,148
PointsBet$53,193,312$1,468,571$748,971
Resorts WorldBet$5,781,833$335,808$171,262
WynnBet$9,374,427$518,705$264,540
Total$1,390,777,875$104,141,625$53,112,229

Retail

CasinoHandleGross Gaming Revenue
Del Lago$1,455,666$170,344
Resorts World$905,888($2,226)
Rivers$3,107,675$211,487
Tioga Downs$544,837$14,668
Total$6,014,066$394,273

March 2022

Online

Online SportsbookHandleGross Gaming RevenueTax
BetMGM$172,650,978$5,070,284$2,585,845
BetRivers$41,572,479$1,712,976$873,618
Caesars$273,387,278$21,582,476$11,007,063
DraftKings$414,526,720$22,894,581$11,676,237
FanDuel$673,056,881$58,322,575$29,744,513
PointsBet$48,374,658$2,993,617$1,526,744
Resorts WorldBet$4,945,480$518,138$264,250
WynnBet$9,752,359$1,187,409$605,579
Total$1,638,266,833$114,282,056$58,283,849

Retail

CasinoHandleGross Gaming Revenue
Del Lago$1,759,244$194,198
Resorts World$970,943$86,758
Rivers$3,261,191$374,228
Tioga Downs$531,481$18,964
Total$6,522,859$674,148

February 2022

Online

Online SportsbookHandleGross Gaming RevenueTax
BetMGM$154,697,988$3,521,783$1,796,109
BetRivers$37,111,558$2,068,169$1,054,766
Caesars$323,399,954$19,788,294$10,092,030
DraftKings$387,598,857$29,952,557$15,275,804
FanDuel$568,063,621$23,167,344$11,815,346
PointsBet$51,574,752$3,088,198$1,574,981
WynnBet$5,121,524$805,758$410,937
Total$1,527,568,253$82,392,104$42,019,973

Retail

CasinoHandleGross Gaming Revenue
Del Lago$1,720,218($182,653)
Resorts World$983,948$20,789
Rivers Casino$3,268,075($129,100)
Tioga Downs$538,399$48,459
Total$6,510,640($242,505)

January 2022

Online

Online SportsbookHandleGross Gaming RevenueTax
BetMGM$82,204,532$3,847,998$1,962,479
BetRivers$33,465,116$1,072,328$546,887
Caesars$627,401,761$58,985,112$30,082,407
DraftKings$377,952,846$29,582,503$15,087,076
FanDuel$517,492,498$28,089,392$14,325,590
PointsBet$31,202,281$2,561,623$1,306,428
Total$1,669,719,034$124,138,955$63,310,867

Retail

CasinoHandleGross Gaming Revenue
Del Lago$4,551,924($75,006)
Resorts World$2,984,261 ($240,340)
Rivers Casino$7,360,773$81,508
Tioga Downs$1,647,906($94,991)
Total$16,544,864($328,829)

December 2021

CasinoHandleGross Gaming Revenue
Del Lago$6,253,480$38,895
Resorts World$3,349,123$288,743
Rivers$10,001,003$277,341
Tioga Downs$1,526,375$159,635
Total$21,129,981$764,614

November 2021

CasinoHandleGross Gaming Revenue
Del Lago$6,152,252$1,300,170
Resorts World$3,785,425$496,440
Rivers$9,885,752$1,751,328
Tioga Downs$1,695,665$408,552
Total$21,519,094$9,956,490

October 2021

CasinoHandleGross Gaming Revenue
Del Lago$7,490,819$503,241
Resorts World$3,918,782$222,437
Rivers$11,914,909$949,784
Tioga Downs$2,242,786$43,152
Total$25,567,296$1,718,614

September 2021

CasinoHandleGross Gaming Revenue
Del Lago$5,431,184$1,162,877
Resorts World$2,708,185$421,525
Rivers$7,963,041$1,414,035
Tioga Downs$1,253,372$188,608
Total$17,355,782$3,187,045

August 2021

CasinoHandleGross Gaming Revenue
Del Lago$2,891,818$260,764
Resorts World$1,414,218$303,904
Rivers$4,301,095$464,164
Tioga Downs$546,471$51,739
Total$9,153,602$1,080,571

July 2021

CasinoHandleGross Gaming Revenue
Del Lago$2,638,294$312,192
Resorts World$1,633,456$300,642
Rivers$4,518,113$541,497
Tioga Downs$548,244$119,290
Total$9,338,107$1,273,621

June 2021

CasinoHandleGross Gaming Revenue
Del Lago$4,111,971$626,478
Resorts World$2,641,115$314,845
Rivers$6,376,475$770,122
Tioga Downs$1,110,257$147,197
Total$14,245,818$1,858,642

May 2021

CasinoHandleGross Gaming Revenue
Del Lago$4,534,299$555,855
Resorts World$2,418,247$307,607
Rivers$6,569,166$641,102
Tioga Downs$624,031$85,550
Total$14,145,743$1,590,114

April 2021

CasinoHandleGross Gaming Revenue
Del Lago$3,999,574$620,431
Resorts World$2,953,279($7,747)
Rivers$5,669,405$644,865
Tioga Downs$914,898$65,074
Total$13,537,156$1,322,623

March 2021

CasinoGross Gaming Revenue
Del Lago$697,149
Resorts World$204,010
Rivers$821,649
Tioga Downs$122,877
Total$1,845,685

February 2021

CasinoGross Gaming Revenue
Del Lago$376,118
Resorts World$157,098
Rivers$463,663
Tioga Downs$156,397
Total$1,153,276

January 2021

CasinoGross Gaming Revenue
Del Lago$1,270,812
Resorts World$479,557
Rivers$1,429,140
Tioga Downs$390,346
Total$3,569,855

December 2020

CasinoGross Gaming Revenue
Del Lago$922,718
Resorts World$108,948
Rivers$949,804
Tioga Downs$277,301
Total$2,258,771

November 2020

CasinoGross Gaming Revenue
Del Lago$949,710
Resorts World$274,324
Rivers$1,048,553
Tioga Downs$347,089
Total$2,619,676

October 2020

CasinoGross Gaming Revenue
Del Lago$771,299
Resorts World$470,076
Rivers$1,074,631
Tioga Downs$307,458
Total$2,623,464

September 2020

CasinoGross Gaming Revenue
Del Lago$398,497
Resorts World$285,295
Rivers$623,587
Tioga Downs$96,164
Total$1,403,543

March 2020

CasinoGross Gaming Revenue
Del Lago$53,861
Resorts World($3,304)
Rivers$81,883
Tioga Downs($32,926)
Total$99,514

February 2020

CasinoGross Gaming Revenue
Del Lago$98,247
Resorts World($145,008)
Rivers($38,802)
Tioga Downs($94,030)
Total($179,593)

January 2020

CasinoGross Gaming Revenue
Del Lago$610,250
Resorts World$395,659
Rivers$778,997
Tioga Downs$158,445
Total$1,943,351

December 2019

CasinoGross Gaming Revenue
Del Lago$335,283
Resorts World$65,236
Rivers$311,828
Tioga Downs$68,071
Total$780,418

November 2019

CasinoGross Gaming Revenue
Del Lago$230,092
Resorts World$467,356
Rivers$549,230
Tioga Downs$61,618
Total$1,308,296

October 2019

CasinoGross Gaming Revenue
Del Lago$572,410
Resorts World$506,380
Rivers$1,001,741
Tioga Downs$152,696
Total$2,233,227

September 2019

CasinoGross Gaming Revenue
Del Lago$836,929
Resorts World$381,210
Rivers$903,892
Tioga Downs$161,834
Total$2,283,865

August 2019

CasinoGross Gaming Revenue
Del Lago$182,950
Resorts World$67,881
Rivers$445,291
Tioga Downs$132,030
Total$828,152

July 2019

CasinoGross Gaming Revenue
Del Lago---
Resorts World---
Rivers$294,249
Tioga Downs$55,219
Total$349,468

How much money could New York online sports betting generate?

There was never any doubt that New York could become one of the most lucrative legal sports betting states in the country. Its sheer size and population (trailing only three other states) make the Empire State a potential gold mine.

Combine that with passionate fans and some of the most iconic (and valuable) professional sports franchises in the world, and New York seemingly has all the markers of a wildly successful sports betting market.

Before regulators selected the nine online sportsbooks to launch in New York, and based on a closed model of up to four platforms in the state, PlayNY initially projected in its NY sports betting white paper that mobile wagering would generate $7.5 billion in handle over the first four years. That would lead to $750 million in revenue and $375 million in tax revenue to the state.

New York got off to a good start, as NY betting apps combined for nearly $1.7 billion in handle and over $63 million in tax revenue in the first 24 days of operation.

How NY sports betting compares to New Jersey, Pennsylvania

Obviously, both New Jersey (2018) and Pennsylvania (2019) got head starts to online sports betting. Their established markets have allowed betting apps to build ample customer databases, including many users from New York.

Lawmakers in the Empire State have long believed that green lighting mobile wagering in New York would allow the state to incentivize locals to keep online betting in New York rather than taking their business out of state.

Certainly, New Yorkers have contributed to the rise of New Jersey and Pennsylvania sports betting. And operators in each state have reaped the benefits. For example, New Jersey, easily the largest sports betting market in the US in terms of money wagered, has brought in more than $1.3 billion in revenue since launching in 2018, generating $198.1 million in tax revenue. Similarly, Pennsylvania has benefited from $183.7 million in tax revenue on $724.5 million in operator revenue since 2019.

In 2021, through September, New Jersey and Pennsylvania have reported $501.2 million and $301.8 million in online betting revenue, respectively. That has resulted in some $65 million in taxes for New Jersey and $92 million for Pennsylvania.

Each state features lower tax rates for operators, as well as markets that invite more sports betting competition, whereas New York has a seemingly more finite model in place. New York will implement a 51% tax rate for each of its nine online sportsbooks — by far the highest rate in the country. For comparison, New Jersey taxes mobile operators at a 13% rate, while Pennsylvania levies a 36% tax on sportsbooks.

All-time NY sports betting revenue

Right now, New York has sportsbooks at the state’s four commercial casinos and at tribal casinos upstate. That lack of online sports betting has resulted in the Empire State becoming one of the smallest sports betting markets in the country. Only Delaware, Washington, DC, Arkansas and Montana performed worse.

Still, physical sportsbooks in New York have enjoyed an uptick in business. In October 2021, for example, brick-and-mortars at those four casinos generated the highest handle in a single month since legal NY sports betting launched in 2019.

CasinoFY 2021-22FY 2020-21FY 2019-20TOTAL
Tioga Downs$700,609$1,697,632$662,956$3,061,197
del Lago$4,041,838$5,386,304$2,920,022$12,348,164
Rivers$5,425,570$6,411,027$4,328,308$16,164,905
Resorts World$1,863,212$1,979,306$1,735,411$5,577,929
Total$12,031,229$15,474,269$9,646,697$37,152,195
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