New York online sportsbooks took in $1.16 billion in bets in June, according to data released Friday by the New York State Gaming Commission. That represents the lowest month by total handle since August 2022.
The state received $52.9 million in tax revenue for education programs. The tally for taxes from New York sports betting since its launch in Jan. 2022 is now more than $1.1 billion. New York is only the third state to top $1 billion in tax revenue, joining New Jersey and Nevada. Last month, the state became the quickest to reach $25 billion in total handle.
Due to the large tax rate in New York (51% on gross gaming revenue for online sportsbooks), the amount of tax revenue exceeds what the operators have made. Since Jan. 2022, sportsbooks have reported $1.065 billion in net revenue, compared to the $1.108 billion they’ve sent to Albany.
DraftKings NY tops sportsbooks in June handle
DraftKings NY wrestled the top spot way from rival FanDuel NY in June based on total handle, reporting $488.5 million. For the fiscal year, FanDuel remains the top sportsbook by about $200 million, based on accepted bets.
FanDuel dwarfs its competition based on gross gaming revenue from mobile sports betting since New York launched its market. FanDuel has taken in $519.1 million in GGR. Its closest rival, DraftKings, totals $298.5 million.
The nine New York mobile sports betting apps had a slower June than April and May, but still enjoyed a 10.9% year-on-year increase in total handle.
NY Sportsbooks by Total Handle, June 2023
- DraftKings: $488.5 million ($1.4 billion in Fiscal Year 2023-24)
- FanDuel: $418.1 million ($1.6 billion)
- Caesars NY: $124.8 million ($473.0 million)
- BetMGM NY: $75.3 ($295.8 million)
- Rush Street: $31.9 million ($116.9 million)
- PointsBet: $15.6 million ($55.4 million)
- WynnBET: $6.9 million ($24.6 million)
- Resorts World Bet: $4 million ($16.2 million)
- Bally Bet: $898,761 ($5.4 million)
FanDuel and DraftKings accounted for nearly 80% of the total handle in New York from online sports betting in June. The two operators continue to battle for supremacy in the largest sports betting market in the country.
Bally Bet’s numbers will go dark for now. Last month, the company shut down its sportsbook in most states to facilitate a transition to a new betting platform.
PointsBet will also see changes in coming months, most likely. Last month shareholders approved the sale of PointsBet US to Fanatics. That company has not revealed its plans for the PointsBet sportsbook. For now, it’s available in states where it was operating under that name.
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