New York Enjoys Record Sports Betting Handle in October
LISTEN TO THIS ARTICLE:Players in New York wagered $2,017,934,931 in October, a 29.78% increase year-on-year and the highest total since the market launched in 2022.
According to the monthly betting report released by the New York Gaming Commission, the eight licensed operators in the state generated a total gross gaming revenue (GGR) of $166.3m in October, thus contributing $84.8m in tax revenue to the state.
Regarding operators, FanDuel took the lead in October with $891.9m in total bets and $83.1m GGR. DraftKings was second with $65.2m in wagers and $59.2m. The third on the list, Caesars earned $10.8m from $193.2m in bets.
BetMGM recorded $107.5m in bets and $7.1m in GGR. BetRivers received slightly higher total wagers at $114.1m but got $3.3m in revenue. PointsBet’s share from the total bets in the state in October was $27.6m, earning it $1.2m.
WynnBet earned $313,362 from $12.3m in total bets, while Resorts World Bet reported $7.6m in wagers and a GGR of $894,039.
Record Breaking Handle
The October handle is highly significant as it is the first time New York would be surpassing the $2 billion mark in total wagers. However, the state has consistently seen multiple months with handles exceeding the $1 billion threshold, with just three exceptions since the market went live.
Additionally, New Yorkers have now placed bets amounting to over $39.6bn, with $29.1bn of those wagers made through mobile sportsbooks. Since the industry’s inception, the state has benefitted more than $1.3bn in tax revenue.
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