- New York sports bettors wagered more than $516 million for the week ending Sept. 29
- ESPN BET launched in the state on Friday, Sept. 27
- The newest operator reported $3.04 million in online handle during its first three days of operation
The newest online sports betting operator in New York had a modest start to its debut in the Empire State.
The New York State Gaming Commission reported $516,820,750 in online sports betting handle for the week ending Sept. 29. Regulators reported nearly $53 million in gross gaming revenue for the week.
ESPN BET, which launched in the state on Friday, Sept. 27, reported $3.04 million in online sports betting handle through Sept. 29.
What Will ESPN BET Do During First Full Week?
The first numbers for ESPN BET are in, which saw the operator generate $165,673 in gross gaming revenue during its first three days of operation. ESPN BET soft-launched in the state on Thursday, Sept. 26, just several days after the gaming commission unanimously approved PENN Interactive’s acquisition of Wynn Interactive, which included a sports betting license in the state.
PENN Interactive announced its plans to acquire Wynn Interactive in February and had hoped to launch ESPN BET in New York by the end of August. PENN Entertainment CEO Jay Snowden said during the company’s Q2 earnings report that ESPN BET would likely launch in the Empire State prior to the college and NFL season.
However, the gaming commission did not officially consider the acquisition until late September.
New York regulators will likely report ESPN BET’s first full week totals this Friday.
Profits Up in State
The New York State Gaming Commission reported $516,820,750 in online sports betting handle for the week ending Sept. 29. This led to $52,720,804 in gross gaming revenues, an increase of more than $9 million from the previous week.
FanDuel topped DraftKings in total handle for the week, reporting $198,225,539 in online sports betting handle compared with DraftKings $196,317,297 . FanDuel also topped DraftKings in revenue again for the week, reporting $24,189,929 in gross gaming revenue compared with DraftKings’ $17,439,470 total.
The New York State Gaming Commission releases handle and revenue reports for its eight live NY sports betting apps, Caesars Sportsbook, DraftKings Sportsbook, FanDuel, BetMGM, Fanatics Sportsbook, Bally Bet, Resorts World Bet, and BetRivers, at the conclusion of each week.
Here are the handle breakdowns for the nine sportsbooks for the week ending Sept. 29:
- DraftKings NY: $196,317,297
- FanDuel NY: $198,225,539
- Fanatics Sportsbook: $38,988,616
- BetMGM NY: $37,151,535
- Caesars Sportsbook NY: $34,720,869
- BetRivers: $8,888,823
- ESPN BET: $3,044,164
- Bally Bet: $2,294,649
- Resorts World: $1,407,297
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 $20 billion in total handle so far.
- FanDuel: $20,658,547,137
- DraftKings: $17,131,365,331
- Caesars: $6,311,925,912
- BetMGM: $3,672,896,177
- BetRivers: $1,494,252,300
- Fanatics Sportsbook: $1,443,931,170
- Resorts World: $198,297,769
- Bally Bet: $103,714,677
- ESPN BET: $3,044,164
NY Sports Betting Revenues
For the week of Sept. 29, the nine sportsbooks reported a total of $52,720,804 in gross gaming revenue. At New York’s 51% online sports betting tax rate, this resulted in $26,887,610 million in tax revenue.
Here are the total gross gaming revenues for the week:
- FanDuel: $24,189,929
- DraftKings: $17,439,470
- Caesars: $3,774,648
- Fanatics Sportsbook: $2,261,094
- BetMGM: $1,423,382
- BetRivers: $900,741
- Bally Bet: $313,138
- Resorts World: $213,583
- EPSN BET: $165,673
Here are the total gross gaming revenues since the Jan. 8, 2022 launch:
- FanDuel: $2,176,092,397
- DraftKings: $1,451,674,343
- Caesars: $457,184,267
- BetMGM: $240,154,674
- Fanatics Sportsbook: $101,973,778
- BetRivers: $88,716,506
- Resorts World: $13,051,358
- Bally Bet: $6,160,966
- ESPN BET: $165,673
In a groundbreaking development for the sports betting industry, New York regulators have reported the first results of bets placed on ESPN’s new betting platform, ESPN BET. The platform, which was launched earlier this year in partnership with Caesars Entertainment, allows fans to place bets on a wide range of sporting events directly through the ESPN app.
According to the New York State Gaming Commission, the first bets placed on ESPN BET have been a resounding success. In just the first month of operation, over $1 million in bets were placed through the platform, with a significant portion of those bets coming from New York residents.
The most popular sports for betting on ESPN BET so far have been basketball, football, and baseball, with fans wagering on everything from individual games to season-long prop bets. One of the most popular bets placed was on the New York Yankees to win the World Series, with many fans showing their support for the hometown team.
In addition to traditional sports betting, ESPN BET also offers a variety of unique betting options, such as live in-game betting and fantasy sports contests. This has helped to attract a wide range of fans to the platform, from casual sports enthusiasts to hardcore gamblers.
Overall, the early success of ESPN BET in New York is a promising sign for the future of sports betting in the state. With more and more states legalizing sports betting, platforms like ESPN BET are poised to become a major player in the industry, offering fans a new and exciting way to engage with their favorite sports.
