Skip to content

Ad Disclosure

New York Sports Betting Eclipses Massive Revenue Milestone

Robert Linnehan

By Robert Linnehan in Sports Betting News

Published:


Panthers vs Rangers same-game parlay for Game 2
Apr 21, 2024; New York, New York, USA; New York Rangers defenseman Adam Fox (23) and goaltender Igor Shesterkin (31) congratulate each other after defeating the Washington Capitals 4-1 in game one of the first round of the 2024 Stanley Cup Playoffs at Madison Square Garden. Mandatory Credit: Wendell Cruz-USA TODAY Sports
  • New York sports betting has eclipsed more than $2 billion in online sports betting tax revenue since launching in 2022
  • May 2024 was the second most profitable month in New York online sports betting history
  • The Gaming Commission reported $345.4 million in online sports betting handle for the week ending June 9

New York online sports betting hit a massive revenue milestone this past month.

New York recorded $103,707,235 in online sports betting tax revenue for the month of May, its second most profitable month of all time, officially pushing the state over $2 billion in sports betting tax revenue since launching in January 2022.

However, June will likely not be as profitable for the Empire State, as the sports betting calendar is entering a lull and the New York State Gaming Commission has reported two lackluster weeks so far in the month.

June Lackluster Month for Sports Betting

Coming off such a successful month of May, New York is already experiencing a slowdown in June. The New York State Gaming Commission reported $344.47 million and $345.4 million in online sports betting handle for the weeks ending June 2 and June 9. The weeks produced $30.28 million and $35.13 million in gross gaming sports betting revenue, respectively, which lagged behind the majority of weekly totals in May.

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 June 9:

ESPN BET is slated to come to New York after securing market access through a $25 million deal for WSI US, LLC, from Wynn Interactive Holdings. WynnBET is still operating in the state and ESPN BET has yet to announce a transition date.

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 $18 billion in total handle so far.

  • FanDuel: $18,506,324,648
  • DraftKings: $15,022,547,506
  • Caesars: $5,849,763,698
  • BetMGM: $3,240,287,355
  • BetRivers: $1,330,180,095
  • Fanatics Sportsbook: $1,087,431,161
  • WynnBET: $231,552,293
  • Resorts World: $171,656,506
  • Bally Bet: $74,860,084

NY Sports Betting Revenues

For the week of June 9, the nine sportsbooks reported a total of $35,130,805 in gross gaming revenue. At New York’s 51% online sports betting tax rate, this resulted in $17,916,710 million in tax revenue.

Here are the total gross gaming revenues for the week:

  • FanDuel: $17,787,642
  • DraftKings: $11,344,231
  • Caesars: $2,062,670
  • BetMGM: $1,568,592
  • Fanatics Sportsbook: $1,414,148
  • BetRivers: $512,885
  • Resorts World: $223,945
  • Bally Bet: $204,982
  • WynnBET: $11,709

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

  • FanDuel: $1,919,684,082
  • DraftKings: $1,259,370,375
  • Caesars: $417,746,069
  • BetMGM: $210,434,739
  • BetRivers: $76,435,389
  • Fanatics Sportsbook: $70,731,796
  • Resorts World: $11,105,723
  • WynnBET: $11,093,468
  • Bally Bet: $3,789,356
Robert Linnehan
Robert Linnehan

Regulatory Writer and Editor

Rob covers all regulatory developments in online gambling. He specializes in US sports betting news along with casino regulation news as one of the most trusted sources in the country.

Gambling

Recommended Reading


sports betting dime logo

Unfiltered sports betting coverage every fan needs — squeezed into your inbox before dinner.

Sign Up Now!

By subscribing you agree to our Terms of Service and Privacy Policy, to receive updates and offers and confirm you are 21+ and have never self excluded from betting or gambling. Unsubscribe at any time. Please gamble responsibly. Need help? 1-800-GAMBLER