New York sets record with $62.04M in weekly sports betting revenue

New York online sports betting achieved a record-breaking week, generating $62.04 million in gross gaming revenue for the week ending October 15. This surpasses the previous record, set since the state launched sports betting in January 2022, by nearly $5 million.

New York raked in a gross gaming revenue (GGR) of $62,042,634, surpassing its prior weekly high of $57,459,178 set during the week ending on January 22, 2023. FanDuel led all operators with $29.5 million in gross gaming revenue.

The state collected over $31.6 million in online sports betting tax revenue for the week.

Impressive weekly handle growth

The weekly online sports betting handle for New York reached $402,719,353. This marks an almost $9 million increase from the previous week. FanDuel reported the highest sports betting handle with $159.94 million, narrowly surpassing DraftKings’ reported total of $145.94 million.

After FanDuel and DraftKings, Caesars Sportsbook closely followed with $42.4 million, while BetMGM has amassed $22.3 million, close to BetRiver’s $22.7 million. PointsBet, WynnBET, and Resorts World collected $5.5 million, $2.4 million, and $1.4 million respectively.

Fanatics Sportsbook is set to take over PointsBet’s New York online sports betting license. The New York State Gaming Commission has approved the transfer, making way for a new sports betting operator in the Empire State. However, there is no specified timeline for the license transfer.

Bally Bet, which paused operations on June 22 for a transition to Kambi’s sports betting platform, has resumed in several states but is awaiting approval to begin operations in New York.

New York has previously achieved a record-breaking annual sports betting handle of $16.2 billion in its first year of legal sports betting in January. The city has successfully surpassed New Jersey’s record of $10.9 billion in 2021.

Last December, the Empire State also reached a monthly handle of $1.62 billion, which marked the tenth consecutive month with a handle exceeding $1 billion.