NY online gambling gets off to a flying start - Records break in January 2022
Prior to Jan 2022, New Jersey held the record for the largest online sports betting handle in a single month, totaling $1.303 billion. Set in October 2021, this record has lasted only three months before being overthrown by the Big Apple’s online sports betting market - in its first three weeks of going live.
As you can see from the NY online gambling revenue table above, the total mobile handle totaled a staggering $1.625 billion. For those interested, the Gross Gaming Revenue (GGR) totaled $112,999,078. In turn, resulting in another record being broken relating to the amount of state taxes paid in a month. New York saw $57,629,530 in state taxes, courtesy of the highest tax rate across the US (51%).
State Sen. Joseph P. Addabbo, Jr., the chair of the New York State Racing, Gaming and Wagering Committee said, “When we brought mobile sports betting to New York, we had confidence it was going to be a success, but to be able to break the national record of total handle for sports betting in a single month in our very first month, with primarily only six sportsbooks, is both rewarding and exciting.”
A closer look at each sportsbook during Jan/2023 - How each operator compares
As we already know, there are currently six sportsbooks that have been given the all-clear and have officially launched across the Empire State. Below, we take a closer look at how each individual sportsbook fared throughout Jan/2023.
|Handle||Gross Gaming Revenue||Taxes|
Currently fighting it out with Caesars for top-spot, Fanduel sportsbook NY topped the charts in week three for gambling revenue, surpassing Caesars who had been on-top throughout weeks one and two. Due to the official launch, NY sports gambling revenue may seem considerably lower than next month’s total; however, we have to consider the additional week of betting available and, of course, the main attraction of the US sporting calendar, Super Bowl LVI.
As we have already noted, Caesars has had an impressive start securing the highest New York sports gambling revenue figures across the opening two weeks. Despite falling short to Fanduel in week three, the people’s choice still rallied up a staggering mobile handle of $615,504,344, GGR at $55,887,328, and taxes totaling $28,502,537 - a huge contribution to the development of the Big Apple in just three weeks of going live.
As it stands, DraftKings is standing firm in third place, slowly building on its online gambling revenue since the official launch on January 8th. Overall, DraftKings has posted a comfortable $367,661,238 in mobile handle, $27,098,781 in GGR, and contributed $13,820,378 in taxes to the state.
The BetRivers sportsbook is down in handle in this third and final week of January by roughly $1.4 million; however, has still had an extremely successful opening campaign across the Big Apple. To date, BetRivers NY gambling revenue can be broken down as $32,424,318 in total handle, $837,035 in GGR, and $426,888 in taxes.
Understandably, BetMGM sits nearer the bottom of the pack after joining the NY market later than the aforementioned four operators. However, despite missing out on a week’s worth of betting action, BetMGM has staked its position across the Big Apple and has secured fourth spot based on a mobile handle of $78,072,899, GGR of $3,224,980, and taxes totalling $1,644,740.
After entering the market as late as January 25th, not much was expected from PointsBet this time around. Although, based on the end of month stats for January, the Big Apple received a sizable $1,191,775 in taxes, off the back of a PointsBet mobile handle of $29,465,195 and GGR totalling $2,336,813.
Weekly Mobile Sports Gambling Statistics 2022 - NY sports gambling revenue to date
The below table highlights the weekly NY gambling revenue to date. Please note that all NY sports betting revenue is reported on a cash basis. All wagers that are yet to have resulted will still be taxed as current revenue and payouts for any winning wagers will be recognized in the period in which they are redeemed.
|Week-Ending||Handle||Gross Gaming Revenue|
NY online gambling revenue predictions - Is a record-breaking February on the cards?
It is an extremely exciting time for sports bettors across New York - evident from the record-breaking numbers that featured in this month’s New York Online Gambling Revenue 2023 guide.
With only four operators officially going live on launch date, the loss of one week’s revenue, and the Super Bowl scheduled in February, we at NewYorkxGambling.com are extremely interested to see the final figures of February’s NY online revenue unfold. The Super Bowl generates the most gambling revenue across the US sports calendar, so we can only predict another record-breaking month is on the cards.
We will also be able to see just how well WynnBet has settled into the market after its official mobile release on February 3rd. Speaking of new operators, we will also eagerly await confirmation of BallyBet and Resorts World’s entry into the market.
Conclusion - Stay in the know with NewYorkxGambling.com
Here at NewYorkxGambling.com we strive to become your number one spot for all things online sports betting across the Big Apple.
Above, we have extensively detailed the ins and outs of New York’s online gambling revenue to date, presenting you with a full picture of how commercial sportsbooks are performing across the state, an overview of the records already broken, as well as our predictions for the month ahead.
If you, like us, enjoy staying up-to-date on the current New York sports betting scene, make sure you check back regularly to discover more news surrounding the top online sportsbooks in NY, the facts and figures surrounding online gambling revenue, and much more. For those of you who are interested in finding a new sportsbook, bonus, or the best odds around New York, make sure to make use of the additional resources on NewYorkxGambling.com, too!