New York continued its torrid pace with online sports betting as customers wagered more than $1.16 billion in June, according to the New York State Gaming Commission (NYSGC). That is approximately an 11 percent increase over the same period last year.
The state has now seen more than $9.1 billion in handle for the first six months of 2023. That is higher than the $8.5 billion in the first half of 2022, a 6.67 percent increase.
Sportsbook operators in the Empire State reported gross revenue of $103.8 million for June. After satisfying the state’s 51 percent tax rate, the highest in the country, they netted approximately $51 million.
New York now has become the fastest state to report more than $25 billion in lifetime handle, or the total amount wagered. New Jersey and Nevada are the only other two states to have ever eclipsed the $25 billion handle mark, but both took several years to accomplish the feat, while NY did it in less than 18 months.
New York legalized online sports betting in January 2022, and it quickly became the largest market in the country. According to the NYSGC, online sportsbooks in NY reported just over $16.2 billion in total wagers in 2022. The state is well on its way of shattering that mark in 2023.
FanDuel and DraftKings control much of the NY market, though FanDuel has been the leader since 2022. However, for the first time, DraftKings had a higher handle DraftKings took in $488.5 million while FanDuel had $418.2 million. FanDuel still reported $23.1 million in revenue after taxes for June, while DraftKings posted monthly revenue of $18.2 million.
Caesars Sportsbook reported a monthly handle of $124.8 million and post-tax revenue of $4.2 million, making it the only other online operator in NY to take more than $100 million last month. BetMGM Sportsbook, the jointly-owned digital gambling platform from MGM Resorts and Entain, had a monthly handle of $75.4 million and $3.5 million in revenue after taxes.
Rush Street Interactive’s BetRivers Sportsbook generated more than $1 million in revenue on almost $32 million in wagers, while PointsBet Sportsbook took nearly $15.7 million in bets and reported revenue of $483,491 for the month. WynnBet and Resorts World Sportsbook also contributed to the statewide total, with handle and revenue numbers of $7 million/$233,535 and $4 million/$91,767, respectively.
