People involved in mobile sports betting in New York can’t wait to get out of the summer quaqmire of down numbers for overall total handle for the last five weeks. Even Gross Gaming Revenue (GGR), which had been rising recently, took an unprecedented nosedive.
For the second consecutive week, total handle came in at less than $200 million. Handle posted at more than $183.86 million for the week ending July 17, beating last week for a new record low for a full week since New York sports betting apps started on Jan. 8.
The state’s GGR was its lowest recorded at $6.2 million, a significant drop of $20.81 million from the previous week ($27.03M).
It was the first time since New York mobile betting started that the weekly GGR was less than $10 million. The previous low, $10.77 million, was recorded for the week ending June 5.
The official figures came in the weekly report from the New York State Gaming Commission (NYSGC).
Streak of Months in Billions Could End
It is the fifth consecutive week total handle has decreased since more than $265.63 million was reported for the week ending June 19. The handle also is just $12.56 million shy of its two-day reporting of $17 million for the week ending Jan. 9.
July is a five-week reporting month. But with consecutive weeks reporting well under $200 million, getting to the $1 billion total for the month of July seems unlikely. New York has been above $1 billion, including the national record month of almost $1.7 billion in January, in each of the first six months of 2022.
How NY Operators Fared
All nine licensed mobile providers are now live in the Empire State, and all had decreases in weekly GGR. Only four (BetMGM Sportsbook New York, WynnBet Sportsbook New York, Resorts World Sportsbook New York and newcomer BallyBet Sportsbook New York) experienced slight increases in handle.
BallyBet launched its mobile product on July 7 and made its debut in NYSGC’s weekly reporting with handle at $243,438 (up from $67,941), with its GGR reporting at -19,142 (down from $17,052).
Since launch, the state has generated $9 billion in total handle and $645 million in GGR.
New York has received $328.94 million in total taxes. The state has a 51% tax rate, which is tied with New Hampshire for the highest in the United States.
Updates on revenue come regularly at EmpireStakes.com. You also can find the top New York sportsbook promo codes.
FanDuel Still No. 1, But Posts Another Decrease
Fan Duel Sportsbook New York posted its lowest handle to date ($76.52 million) and had its fourth straight drop in total handle and its third straight below $100 million since posting $124.9 million for the week ending June 19.
Its total GGR for the week plummeted to $3.35 million, a $10.43 million drop from $13.78 million the week before.
From Jan. 8 thru July 17, Fan Duel has totaled $3.58 billion in handle, $298.1 million in GGR and has sent more than $152.03 million in taxes to Albany.
A glance at how the other top three providers in the state fared:
DraftKings Sportsbook New York had handle below the $60 million dollar mark for the fourth week in a row, but has maintained above $50 million, posting at $52.14M. Its total GGR dropped a solid $4.87 million from the week before, coming in at just $1.23M. Last week’s mark of $6.1M was DK’s highest mark since the week ending June 10.
Since Jan. 8, DraftKings has posted $2.22 billion in handle, more than $147.3M in total GGR and $75.1M in taxes.
Caesars Sportsbook New York had its lowest handle mark to date at $27.88M, ending a five-week streak of more than $30M per. Its total GGR had a sharp drop of $3.04M, posting just a mere $547,043. Since launch, Caesars has posted more than $1.86 billion in total handle, $134.02 million in total GGR and is closing in on $70M in taxes at $68.35M.
BetMGM Sportsbook New York was the only one of the four majors to have a modest increase of $403,364 in total handle, registering $16.25M. However, its total GGR decreased by $1.65M decrease to $512,968. BetMGM’s cumulative handle is more than $823.72 million, total GGR is $34.93 million and taxes to the state posted at $17.81 million.
Just a friendly reminder: The first NFL exhibition season game - Jacksonville Jaguars vs. Las Vegas Raiders in the annual Hall of Fame Game - is Thursday, Aug. 4 at 8 p.m. ET (NBC), with the first full week of games Aug. 11-14.
Football is on the way.
