New York Sports Betting: Back in an Upwards Groove?

Numbers released on Thursday by the New York State Gaming Commission show the state's nine online sportsbooks handled nearly $197 million in bets during the week ended August 14, up about $3 million from the week before.

Last Updated: Aug 18, 2022 2:19 PM ET Read Time: 2 min
Lawrence Cager New York Jets NFL
Photo By - USA TODAY Sports

After a slow descent throughout the summer, online sports betting in New York appears to be back on an upwards trajectory.

Numbers released on Thursday by the New York State Gaming Commission show the state's nine online sportsbooks handled nearly $197 million in bets during the week ended August 14, up about $3 million from the week before.

The week of August 14 is now the third in a row in which the legal handle of mobile betting increased in New York, after a summer in which wagering has been trending down due to a slower schedule of major sporting events. 

Reaping the revenue

Even so, one thing that may be giving online sports betting in New York a lift lately is the National Football League's preseason, which began in bulk during the week ended August 14.

Gross gaming revenue from online sports betting in New York during the week was almost $21.1 million, up slightly from the $20.9 million from the previous week and good for a hold of 10.7%. 

Nothing changed atop the leaderboard of operators last week, with FanDuel remaining the leader in mobile handle for the seven days. The New York-based bookmaker reported $82.6 million in wagering for the week ended August 14 and $10.5 million in gross revenue.

DraftKings held the second spot, taking $57.2 million in bets during the week and generating $4.9 million in revenue. Caesars Sportsbook remained in third after pulling in $26.4 million in bets and turning it into $2.6 million in revenue.

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