The spring/summer doldrums of Sports Betting New York wagering provided another week of decreased total handle.
That word came Friday as official figures for the week ending June 12 were released by the New York State Gaming Commission (NYSGC).
However, Total Gross Gaming Revenue (GGR) bounced back by more than $10 million dollars after posting its lowest of the year — $10.77 million — just one week ago.
NY Betting Apps have been hopping in the Empire State since they launched Jan. 8.
Bally Bet Sportsbook New York is the only approved provider of the initial nine that has yet to launch.
Both spring and summer usually are slow months in sports wagering as all bettors await the start of college football and the NFL. Now, though, throw in the rising costs of products and services and the uncertainty of the U.S economy, which could be the ultimate factor moving forward.
Second Straight Week of Decreased Handle
The Empire State’s weekly handle of more than $248.25 million was the second consecutive week of lower handle from when more than $271.88 million was posted for the week ending May 29.
The number also marked the lowest of the year since statewide online sports wagering started in the state in early January. The former low for handle occurred the first week of online operation ending Jan. 9 (two days of reporting) at more than $171.29 million.
PointsBet Has Increases in Handle and GGR; All 8 Up in GGR
PointsBet Sportsbook New York was the lone provider of the week to have increases in total handle and GGR from the week before.
Total handle for PointsBet posted at more than $5.13 million, an $871,210 increase from more than $4.26 million for the week ending June 5. Its’ total GGR posted at $234,820, a $108,211 increase from $126,609 from the week before.
The seven other providers all posted decreases in handle from the week before and all eight posted weekly increases in total GGR.
Fan Duel Sportsbook New York retained its weekly hold on the top spot in the state, posting more than $109.07 million in total handle and more than $8.8 million in total GGR.
DraftKings Sportsbook New York was second in both categories with a handle of more than $65.55 million and GGR of more than $6.14 million.
Rounding out the top four are: Caesars Sportsbook New York, $37.1 million handle and $2.97 million in GGR, and BetMGM Sportsbook New York, more than $22.81 million, with more than $2.82 million in GGR.
In New York, mobile sports wagering GGR is taxed at 51%.
