New York Online Sports Betting Explodes Into NFL Season

Aug 26, 2023; East Rutherford, New Jersey, USA; New York Giants quarterback Daniel Jones (8) during pregame warmups for their game against the New York Jets at MetLife Stadium. Mandatory Credit: Ed Mulholland-USA TODAY SportsNew York online sports betting rebounded during the first week of the NFL season after a slow summerSports betting handle numbers were the highest since the March Madness tournamentThe New York State Gaming Commission reported more than $56 million in gross gaming revenue last week

There’s a reason online sports betting operators spend millions on marketing and promotions during the NFL season and ignore the rest of the year.

After a fairly slow summer (by comparison), New York online sports betting exploded during the first week of the NFL season, reporting more than $416 million in online sports betting handle for the week ending Sept. 10. It was the highest weekly online sports betting total since the first week of the 2023 March Madness tournament.

The New York State Gaming Commission noted $56.62 million in gross gaming revenue for the week, the second highest weekly total in the state’s online sports betting history.

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More Than $28 million in Tax Revenue in One Week

The $56,627,748 in gross gaming revenue for the week translated to $28.88 million in sports betting tax revenue, its second highest weekly total ever.

The massive revenues came just one week after the state reported its second lowest gross gaming revenue total ever, just $8.3 million for the week ending Sept. 3.

DraftKings rebounded nicely with $16.4 million in revenue after it reported a $3.4 million loss last week. FanDuel continued its New York sports betting dominance, totaling more than $195 million in handle and $32.3 million in revenue.

The New York State Gaming Commission releases handle and revenue reports for Caesars Sportsbook, DraftKings Sportsbook, FanDuel, BetMGM, WynnBET, PointsBet, Bally Bet, Resorts World Bet, and BetRivers at the conclusion of each week.

Here are the handle breakdowns for the nine sportsbooks for the week ending Sept. 10:

FanDuel NY: $195,516,143DraftKings NY: $138,850,834Caesars Sportsbook NY: $40,920,454BetMGM NY: $22,081,258BetRivers: $9,614,204PointsBet: $5,281,530WynnBET: $2,510,881Resorts World: $1,287,280Bally Bet: $0

Bally Bet ceased operations on June 22 while it transitions to Kambi’s sports betting platform. It has launched again in several states, but is still waiting to begin operations in New York.

Here are the total handles for the nine sportsbooks since New York’s Jan. 8, 2022 launch. FanDuel is the only operator in the state to eclipse $10 billion in total handle so far.

FanDuel: $11,237,323,892DraftKings: $8,664,165,366Caesars: $4,215,204,060BetMGM: $2,158,201,405BetRivers: $750,224,564PointsBet: $642,672,012WynnBET: $167,573,286Resorts World: $99,875,820Bally Bet: $16,370,924

NY Sports Betting Revenues

For the week of Sept. 10, the nine sportsbooks reported a total of $56,627,748 in gross gaming revenue. At New York’s 51% online sports betting tax rate, this resulted in $28,880,150 million in tax revenue.

WynnBET has lost more than $257,000 in the state over the last two weeks. The operator is currently evaluating whether it will continue services in the Empire State after it announced it would cease sports betting operations in several states across the country.

Here are the total gross gaming revenues for the week:

FanDuel: $32,331,054DraftKings: $16,446,090Caesars: $4,361,005BetMGM: $2,260,646BetRivers: $934,546PointsBet: $495,387Resorts World: $20,101Bally Bet: $0WynnBET: ($221,081)

Here are the total gross gaming revenues since the Jan. 8, 2022 launch:

FanDuel: $1,179,587,197DraftKings: $704,208,304Caesars: $313,251,333BetMGM: $144,534,786BetRivers: $44,578,116PointsBet: $39,062,747WynnBET: $9,914,501Resorts World: $5,542,212Bally Bet: $917,669