New York Reports Massive Online Sports Betting Handle to End October

Mar 20, 2023; New York, New York, USA; New York Knicks guard Immanuel Quickley (5) reacts during the second quarter against the Minnesota Timberwolves at Madison Square Garden. Mandatory Credit: Brad Penner-USA TODAY SportsThe New York State Gaming Commission reported $527,389,604 in online sports betting handle for the week ending Oct. 29The handle total was the second most in a week since New York launched online sports betting in January 2022The commission reported nearly $29 million in gross gaming revenue for the week

New York online sports betting had a dominant week to close out October.

The New York State Gaming Commission reported more than $527.3 million in online sports betting handle for the week ending Oct. 29. It’s the second highest weekly total since New York launched online sports betting in January 2022.

The state also reported nearly $29 million in gross gaming revenue for the week.

Massive Online Sports Betting Handle Numbers

The $527,389,604 in online sports betting handle is the second highest weekly total ever for the state. The highest week in New York online sports betting history came during its second full week after launching in January 2022, as the state reported $572.5 million for the week ending Jan. 23, 2022.

FanDuel dominated the week, totaling $274.7 million in online sports betting handle for the week, it’s highest handle mark ever.

The New York State Gaming Commission releases handle and revenue reports for its eight NY sports betting apps, 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 Oct. 29:

FanDuel NY: $274,702,725DraftKings NY: $147,601,738Caesars Sportsbook NY: $46,929,548BetMGM NY: $25,511,102BetRivers: $21,531,902PointsBet: $6,455,525WynnBET: $2,848,460Resorts World: $1,808,605Bally Bet: $0

Fanatics Sportsbook will likely take over the PointsBet New York online sports betting license soon. The New York State Gaming Commission recently gave regulatory approval for the transfer of PointsBet’s online sports betting license to Fanatics Betting and Gaming, setting the stage for the first new sports betting operator in the Empire State since it launched online sports betting in Jan. 2022.

There is no timeline for the transfer of the license.

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 $12 billion in total handle so far.

FanDuel: $12,507,247,304DraftKings: $9,795,664,270Caesars: $4,512,326,018BetMGM: $2,327,850,003BetRivers: $894,099,399PointsBet: $684,823,438WynnBET: $186,496,422Resorts World: $112,064,114Bally Bet: $16,370,924

NY Sports Betting Revenues

For the week of Oct. 29, the nine sportsbooks reported a total of $28,784,892 in gross gaming revenue. At New York’s 51% online sports betting tax rate, this resulted in $14,680,294 million in tax revenue.

Here are the total gross gaming revenues for the week:

FanDuel: $13,303,138DraftKings: $8,944,623BetRivers: $3,867,755Caesars:  $1,297,722BetMGM: $1,269,449WynnBET: $123,270Resorts World: $99,883Bally Bet: $0PointsBet: ($120,948)

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

FanDuel: $1,296,673,420DraftKings: $801,194,800Caesars: $331,078,215BetMGM: $156,229,645BetRivers: $50,219,507PointsBet: $41,277,043WynnBET: $10,533,376Resorts World: $6,545,187Bally Bet: $917,669