Sportsbooks Cap Football Season With $1.77B Month, Best February Yet

Written By Grant Lucas on March 8, 2024
Photo of St. John's basketball team and Rick Pitino for story on NY having its best-ever sports betting handle month in February

Online sports betting in New York finished the football season strong, as sportsbooks in the state combined for $1.77 billion in accepted bets during February, according to data from the New York State Gaming Commission.

That total reflects a significant 20.8% spike from February 2023 and represents the highest NY sports betting handle in the month of February since the industry launched at the turn of 2022.

In addition, sportsbooks in New York totaled $131.4 million in total gross gaming revenue, leading to just over $67 million in state tax revenue.

Sportsbooks ride 7-month streak of over $1B in handle with March Madness ahead

Yes, February’s handle total is not the highest in New York’s history. Heck, it’s not even the highest in 2024, with January clocking in at a little over $1.9 billion.

But, consider how the NFL season ended. Not just with the Kansas City Chiefs coming back to beat the San Francisco 49ers in overtime of Super Bowl 58.  Not only with the Chiefs claiming their third title in five years. But also with New York sports betting, even without the Buffalo Bills or New York Giants or New York Jets having any say in the matter.

Even with the Super Bowl taking place early in February, the month’s betting handle totals surpassed that of September, when the NFL season kicked off and with college football in full swing, a time when bettors get their fix after months of anticipation and build-up to the football season.

Compare, too, how February’s total stack up against the past two years.

  • 2024: $1.77 billion handle, $131.43 million revenue
  • 2023: $1.47 billion handle, $108.28 million revenue
  • 2022: $1.53 billion handle, $82.39 million revenue

On top of it all, February became the seventh straight month of NY sportsbooks topping $1 billion in handle, a streak that includes six months exceeding $1.7 billion (which itself includes three exceeding $2 billion). The longest stretch seen in New York was 10 consecutive months, which ended in July 2023.

Breaking down NY sportsbooks in February

Plenty of landmark moments took place in terms of NY sports betting revenue for sportsbooks. Of course, FanDuel Sportsbook NY paced the platforms with $720.1 million in handle, ending its run of four straight months of topping $800 million in bets.

Meanwhile, DraftKings Sportsbook NY clocked in at $697.9 million in accepted bets, its lowest total since August, a trend among most sportsbooks in New York.

While Caesars Sportsbook NY saw its lowest revenue total since June 2022 at $6.7 million (and second-lowest since launch), three other operators enjoyed noteworthy highs last month.

For example, BetMGM Sportsbook NY accepted $129.7 million in bets for its highest monthly total since April 2022. On the flip side, the platform’s $580,224 in revenue reflects its lowest total in New York since launch; the previous low occurred in February 2022 – $3.5 million.

The final highlight came from Bally Bet Sportsbook NY, which had its best-ever New York totals last month with $9.7 million in handle (the fourth straight month of setting a personal best) and $724,041 in revenue.

Fanatics enters New York on a big high

One last highlight deserves its own section.

Toward the end of February, PointsBet officially became no more, as the official transition to Fanatics Sportsbook NY became official.

Granted, the Fanatics name had been in New York for several months, as the platform carried the “PointsBet, A Fanatics Experience” after Fanatics acquired the Australia-based company.

Last month, though, whatever the factors involved, PointsBet/Fanatics went wild with $82.85 million in handle. The licensee’s previous monthly best came in January: at $31.7 million. And its $2.92 million in revenue stands as its fourth-best month since PointsBet first entered the landscape in January 2022.

Photo by AP Photo/Jeffrey Phelps
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Written by
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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