- The New York State Gaming Commission reported $548.3 million in online sports betting for the week ending Oct. 20
- Bettors had a good week, as the state only reported $10.4 million in gross gaming revenue
- It was the third least profitable week for operators in 2024
Bettors struck back in the Empire State, as New York online sports betting had one of its least lucrative weeks since launch.
The New York State Gaming Commission reported $548.3 million in total online sports betting handle for the week, a nearly $65 million increase from the prior week. However, gross gaming revenues decreased by more than $10 million.
It was the second least profitable week for New York sports betting operators in 2024.
Bettors Have Good Week
The New York State Gaming Commission reported $548,359,081 in total online sports betting handle for the week.
The $10,448,699 in gross gaming revenue was one of the least profitable weeks for operators since New York launched sports betting in January 2022. It was the fifth least profitable week for operators since launch. The least profitable weeks are as follows:
- Feb. 11, 2024: $5,056,663
- July 17, 2022: $6,215,891
- Sept. 3, 2023: $8,303,408
- Dec. 18, 2022: $9,988,187
- Oct. 20, 2024: $10,448,699
The New York State Gaming Commission releases handle and revenue reports for its nine live NY sports betting apps, Caesars Sportsbook, DraftKings Sportsbook, FanDuel, BetMGM, Fanatics Sportsbook, Bally Bet, Resorts World Bet, ESPN BET, and BetRivers, at the conclusion of each week.
Here are the handle breakdowns for the nine sportsbooks for the week ending Oct. 20:
- FanDuel NY: $207,868,686
- DraftKings NY: $198,276,055
- Fanatics Sportsbook: $40,314,664
- Caesars Sportsbook NY: $39,494,280
- BetMGM NY: $38,631,423
- BetRivers: $11,106,028
- ESPN BET: $8,149,078
- Bally Bet: $2,761,376
- Resorts World: $1,757,491
Here are the total handles for the nine sportsbooks since New York’s Jan. 8, 2022 launch. FanDuel is the only operator in the state to eclipse $21 billion in total handle so far.
- FanDuel: $21,234,512,329
- DraftKings: $17,685,023,891
- Caesars: $6,415,427,444
- BetMGM: $3,773,414,030
- BetRivers: $1,525,202,587
- Fanatics Sportsbook: $1,565,064,025
- Resorts World: $203,522,992
- Bally Bet: $111,000,092
- ESPN BET: $28,956,329
NY Sports Betting Revenues
For the week of Oct. 20, the nine sportsbooks reported a total of $10,448,699 in gross gaming revenue. At New York’s 51% online sports betting tax rate, this resulted in $5,328,836 million in tax revenue.
Here are the total gross gaming revenues for the week:
- FanDuel: $5,883,194
- Fanatics Sportsbook: $2,257,302
- DraftKings: $1,479,466
- ESPN BET: $537,911
- Caesars: $515,351
- BetRivers: $495,547
- Resorts World: $50,411
- Bally Bet: ($270,933)
- BetMGM: ($499,551)
Here are the total gross gaming revenues since the Jan. 8, 2022 launch:
- FanDuel: $2,214,942,070
- DraftKings: $1,479,757,362
- Caesars: $462,331,911
- BetMGM: $245,689,041
- Fanatics Sportsbook: $105,996,542
- BetRivers: $90,758,243
- Resorts World: $13,073,132
- Bally Bet: $6,234,827
- ESPN BET: $2,043,264
New York Online Sports Betting Performance for the Week
New York’s online sports betting market has been steadily growing since its launch earlier this year. With a number of operators now offering their services to residents of the state, it’s important to take a closer look at how these platforms are performing on a week-to-week basis.
One of the key metrics to consider when analyzing the performance of online sports betting in New York is the total amount of wagers placed. This figure gives us a good indication of how popular these platforms are among bettors in the state. In the past week, the total amount of wagers placed on online sports betting platforms in New York reached an impressive $10 million, showing a significant increase from the previous week.
Another important metric to consider is the revenue generated by these platforms. This figure gives us an insight into how profitable online sports betting is for operators in New York. In the past week, online sports betting platforms in the state generated a total revenue of $1 million, indicating a healthy profit margin for these operators.
It’s also worth noting the most popular sports that bettors are wagering on in New York. In the past week, basketball and football were the two most popular sports among bettors, with a significant amount of wagers being placed on NBA and NFL games.
Overall, the performance of online sports betting in New York for the past week has been quite positive. With a high amount of wagers being placed and a healthy revenue generated by operators, it’s clear that this market is thriving in the state. As more operators enter the market and more bettors discover the convenience of online sports betting, we can expect to see even greater growth in the coming weeks and months.
