Sportsbook Financial

New York Online Sports Betting Sees Lowest Spending in 10 Months

The total handle for June in New York was $1.47 billion (£1.15 billion/€1.36 billion)

New York Online Sports Betting Sees Lowest Spending in 10 Months
New York Online Sports Betting Sees Lowest Spending in 10 Months

In June, player spending on online sports betting in New York dropped to its lowest point in 10 months, with revenue hitting its lowest monthly figure since February. The total handle for June in New York was $1.47 billion (£1.15 billion/€1.36 billion). This represents a 25.6% increase from the same month last year but a 25.4% decrease from May’s $1.97 billion. The last time spending was this low was in August 2023, when it reached $1.11 billion.

Gross gaming revenue followed a similar pattern, reaching $133.9 million in June. This is a 29.0% increase year-on-year but a 34.1% decline from May. June typically sees less betting activity due to the conclusion of the NBA and NFL finals early in the month, with no New York teams competing for the titles. This total was only slightly above February's $131.4 million, another low period following the Super Bowl. February's low revenue was the only factor preventing June from being another 10-month low for GGR.

FanDuel continues to dominate the New York market, reporting $67.1 million in revenue from $571.3 million in wagers for June. This led to a tax contribution of $34.2 million, bringing FanDuel’s total tax contributions to $998.3 million since mobile sports betting launched in January 2022. As of early July, this total has likely surpassed $1 billion.

DraftKings secured second place with $40.9 million in revenue from a $521.6 million handle. The competition for third place was close, with Caesars leading with $127.7 million in wagers and $6.8 million in revenue. BetMGM followed with $6.8 million from $100.6 million wagered, just ahead of Fanatics.

Fanatics, which launched on February 29 this year, reported a handle of $67.3 million. Although this was lower than Caesars and BetMGM, its hold of 9.96% resulted in $6.7 million in revenue.

Rush Street Interactive was the only other operator in the state to post more than $1.0 million in monthly revenue, reporting $2.5 million from $68.8 million in wagers for June. BallyBet generated $658,294 from a $6.9 million handle, Resorts World $572,891 from $7.4 million, and Wynn Interactive $66,665 from $1.5 million.

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