New York Surpasses a Significant Milestone, Monthly Revenue Higher than $3 Billion for Sports Betting Operators

A sports betting revenue report in New York was published, and the state was very successful since the revenue surpassed $3 billion during the last month. The Gaming Commission released the adjusted gross revenue for the week that ended on January 21, and it was more than $47.5 million.

Significant milestones:

New York and New Jersey are currently the only states that surpassed $3 billion in monthly revenue. The haul in December was also the highest ever, with earned revenue of $189.3 billion.

Betting apps in the state are also more popular than ever. Since its launch in January 2022, last week was the seventh successful ever, with a revenue of almost $30 million. The record holds the week that ended on January 14, with a revenue of $67.3 million.

The handle was $490.7 million last week, mostly thanks to the NFL divisional round playoffs, which made the week the one with six-highest revenue ever.

AGR was positive for all operators in the country, so the state will earn more than $24.2 million in taxes since New York has a 51% rate when it comes to mobile betting.

Successful period for New York operators:

As Sports Handle reports, FanDuel was the most successful operator in New York, with more than $25 million earned in only one week. The operator is likely to put New York on a short list of only four states in the country that surpassed monthly revenue of nine figures once again, since it is on a way to achieve $100 million in revenue, since the value of the handle was $610.8 million.

DraftKings also had a very successful period. It was the only operator whose sportsbook achieved $1 billion in revenue. BetMGM was successful as well, with more than $2.2 million haul, which is $137,000 more than Caesars.

Bally Bet succeeded in achieving more than $2 million in handle a week, which is a significant milestone since it happened for the first time the company is present in New York. Resorts World also had a significant handle, as did WynnBET with $2.2 million.

Other sportsbooks are also on their way to achieving significant milestones. Resorts World is about to reach $500.000 in monthly revenue, with a handle of $1.8 million, and WynnBET achieved a sub-4% hold, with a handle of $1.9 million.

Fanatics’ PointsBet is back on track with $8.5 million in wagers a year for the first time after the 2023 NFL divisional round. The operator’s revenue was $522,000.

BetRivers earned more than $650.000 in weekly revenue for the fifth consecutive week. The handle was $12.3 million, and the winnings were $741,000.