New York Posts Highest Weekly Sports Betting Revenue Since Legalization

The state's online sports betting sites generated just $342.6 million in wagers over the seven-day period, but the gross gaming revenue was the highest recorded since the Empire State legalized sports betting.

Dec 15, 2022 • 13:32 ET • 1 min read
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Photo By - USA TODAY Sports

After the Empire State just broke the monthly state record for gross gaming revenue, the state's operators kicked off the first full week of December by setting another revenue benchmark.

Numbers reported today by the New York State Gaming Commission revealed that the state's online sports betting sites posted a GGR of $44.5 million for the week ended December 11, beating the previous seven-day high (originally set in late January) since legal sports betting was launched at the beginning of the year. 

That amounts to nearly a 40% weekly increase in New York sports betting revenue, made possible by a hold percentage of about 13% (the third-highest weekly win rate of all-time) which was required as the handle declined for the third straight week to $342.6 million — an 8.8% decline from the previous week and a whopping 20.2% drop from two weeks prior.

Total taxes paid to the state, based on the 51% tax rate on sports betting revenue, amount to nearly $22.7 million for the week.

Different week, same brands on top

FanDuel and DraftKings were again the kings of New York, accounting for 73.4% of the statewide handle and 76.6% of the GGR, but FanDuel again was the top dog.

FanDuel posted $141.1 million in weekly wagers (down 7%) and $20.8 million in revenue (up 9.5%), while DraftKings saw its handle decline by 11.6% to $110.3 million... but revenue increased by a whopping 58.3% to $13.3 million.

Caesars again won the bronze medal for the week, posting a handle of $45.4 million... but seeing revenue basically double to $5.8 million.

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