Report: New York Online Sports Betting Sees Profitable Summer Week

Aug 4, 2024; Bronx, New York, USA; New York Yankees starting pitcher Gerrit Cole (45) points toward home plate during the second inning against the Toronto Blue Jays at Yankee Stadium. Mandatory Credit: Vincent Carchietta-USA TODAY Sports

• The New York State Gaming Commission reported a strong week of online sports betting
• The state reported more than $300 million in online sports betting handle for the week ending Aug. 18
• The state took in more than $18.4 million in tax revenue, one of its most lucrative weeks this summer

New York online sports betting is hoping to end the summer strong as it moves into the cash-cow football season.

The New York State Gaming Commission reported state bettors wagered more than $300 million in online sports betting handle for the week ending Aug. 18, which resulted in more than $35 million in sports betting gross gaming revenue.

The final sports betting totals ended up being one of the more lucrative summer weeks for the Empire State.

More Than $18 Million in Tax Revenue

On the precipice of football season, New York experienced one of its most lucrative summer week. The gaming commission reported $36,156,309 in online sports betting gross gaming revenue, the second highest week of the summer behind the June 23 week where the state took in $38.1 million in revenue.

The New York State Gaming Commission reported $300,155,846 million in online sports betting handle for the week ending Aug. 18.

The New York State Gaming Commission releases handle and revenue reports for its nine NY sports betting apps, Caesars Sportsbook, DraftKings Sportsbook, FanDuel, BetMGM, WynnBET, 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 Aug. 18:

• FanDuel NY: $107,026,230
• DraftKings NY: $103,743,269
• BetMGM NY: $30,827,555
• Caesars Sportsbook NY: $25,561,536
• Fanatics Sportsbook: $21,940,503
• BetRivers: $7,815,702
• Bally Bet: $1,446,366
• Resorts World: $1,794,685
• WynnBET: $0

ESPN BET is slated to come to New York this month after securing market access through a $25 million deal for WSI US, LLC, from Wynn Interactive Holdings. WynnBET is no longer operating in the state.

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 $19 billion in total handle so far.

• FanDuel: $19,671,307,361
• DraftKings: $16,132,422,430
• Caesars: $6,115,412,964
• BetMGM: $3,468,243,378
• BetRivers: $1,433,627,868
• Fanatics Sportsbook: $1,264,186,176
• WynnBET: $234,058,992
• Resorts World: $187,438,304
• Bally Bet: $89,412,867

NY Sports Betting Revenues

For the week of Aug. 18, the nine sportsbooks reported a total of $36,156,309 in gross gaming revenue. At New York’s 51% online sports betting tax rate, this resulted in $18,439,717 million in tax revenue.

Here are the total gross gaming revenues for the week:

• FanDuel: $15,153,535
• DraftKings: $12,763,020
• Caesars: $2,445,218
• Fanatics Sportsbook: $2,811,682
• BetMGM: $2,148,387
• BetRivers: $711,778
• Resorts World: $95,354
• Bally Bet: $27,335
• WynnBET: $0

Here are the total gross gaming revenues since the Jan. 8, 2022 launch:

• FanDuel: $2,057,413,677
• DraftKings: $1,364,483,795
• Caesars: $440,649,478
• BetMGM: $228,955,674
• Fanatics Sportsbook: $90,198,339
• BetRivers: $83,636,308
• Resorts World: $12,199,093
• WynnBET: $11,376,541
• Bally Bet: $4,918,315

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