New York Mobile Sports Betting Leveling Off After Explosive Start

The weekly report released by the New York State Gaming Commission (NYSGC) on Friday showed approximately $271.9 million in bets was taken by mobile sportsbooks between May 23 and May 29.

Last Updated: Jun 6, 2022 2:23 PM ET Read Time: 2 min
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New York mobile sports betting operators saw a $10-million increase in handle for the week ended May 29, but at the cost of $10 million in gross gaming revenue (GGR).

The weekly report released by the New York State Gaming Commission (NYSGC) on Friday showed approximately $271.9 million in bets was taken by mobile sportsbooks between May 23 and May 29, up from $261.2 million the week before. 

The state’s online operators also generated $13.8 million in GGR for the week ended May 29, down from $23.5 million the previous week, making their hold for the seven days about 5%.

The uptick in handle was refreshing for mobile operators after having previously reported their weakest two weeks of wagering since the launch of legal online sports betting in New York in early January. 

Even so, the overall handle for the state’s eight online sportsbooks has now been under $300 million in four of the last five weeks.

FanDuel and DraftKings closing in on milestones

Both FanDuel and DraftKings were up in handle week-over-week, and New York’s two leading mobile sportsbooks are approaching significant milestones.

After FanDuel’s $121.6 million in handle for the week ended May 29, the sportsbook giant sits close to $3 billion in bets taken in the state ($2.89 billion) since January 8. If current trends continue, the bookmaker should hit the mark by the end of the next weekly reporting period.

Meanwhile, DraftKings brought in $71.1 million in bets on the week and, at $1.8 billion in total handle, should reach the $2 billion mark within the next few weeks.

The two sportsbooks have accounted for well over half of the total handle in the state, with Caesars Sportsbook not far behind with about $1.62 billion in bets placed.

Sportsbook operator Handle for week ended May 29 GGR for week ended May 29
FanDuel $121,629,980  $8,378,829
DraftKings $71,069,186  $1,851,456
Caesars $38,568,006  $1,561,717
BetMGM $25,580,388  $1,502,316
PointsBet $4,122,066  $488,172
BetRivers $6,965,401  $39,570
WynnBET $2,288,059 $117,965
Resorts World $1,661,297  ($103,575)
Total: $271,884,384  $13,836,449

Resorts World takes an L

It was a tough week as far as gaming revenue was concerned, with just two of the state’s mobile sportsbooks up from the previous week.

Resorts World was the biggest loser on the week at minus $103,575 in revenue, despite a handle of $1.7 million. BetRivers squeaked by with just over $39,000 in GGR after taking close to $7 million in bets.

Since the January 8 launch, the state’s mobile operators have handled over $7.4 billion in bets and generated more than $530.5 million in GGR. With its 51% tax rate, New York state has collected more than $270.5 million in tax revenue from the operators

Totals from January 8 to May 29, 2022:

Sportsbook operator  Handle GGR Tax
FanDuel $2,881,402,882 $234,628,370 $119,660,469
DraftKings $1,803,565,285 $121,893,595 $62,165,733
Caesars $1,623,209,644 $123,629,510 $63,051,050
BetMGM $669,232,133 $24,842,217 $12,669,531
PointsBet $217,300,564 $12,887,542 $6,572,646
BetRivers $179,373,457 $8,311,984 $4,239,112
WynnBET $33,529,236 $3,232,176 $1,648,410
Resorts World $16,765,112 $1,031,408 $526,018
Totals: $7,424,378,312 $530,456,802 $270,532,969

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