New York Posts Lowest Betting Monthly Revenue in August
LISTEN TO THIS ARTICLE:The New York State Gaming Commission has disclosed in its monthly revenue report that online sports betting revenue in New York hit $98.5 million in August, marking the lowest monthly total since July 2022. Interestingly, the handle improved both month-on-month and year-on-year.
Gross gaming revenue (GGR) saw a slight 1.1% decrease from $99.6 million in August 2022. This monthly total was also 6.3% lower than the $105.1 million recorded in New York in July of this year.
On the positive side, the handle showed significant improvement. New Yorkers placed online wagers totaling $1.11 billion in August, reflecting a 27.6% increase compared to the $872.2 million wagered in the same month last year. Furthermore, this figure marked a 15.7% rise from the $962.1 million wagered in July this year.
Examining individual operators, FanDuel, owned by Flutter Entertainment, reported $41.1 million in revenue, extending its lead over DraftKings, which recorded $35.5 million in GGR but reported a higher handle compared to FanDuel, reaching $446.9 million. In contrast, FanDuel generated a handle of $384.6 million.
Caesars came third with a revenue of $9.6 million from a total of $120.1 million in wagers during the month. BetMGM followed with $6.5 million in GGR from a $70.5 million handle, and Rush Street Interactive reported $3.0 million in GGR from $36.3 million in wagers.
PointsBet achieved $914,020 in revenue from a combined betting volume of $17.1 million, whereas Wynn Interactive reported $752,704 in revenue generated from wagers totaling $8.5 million. Resorts World, in turn, garnered $322,945 in revenue from a handle of $4.2 million.
BallyBet was the only online operator licensed in New York that did not offer wagering services during the month. This is due to the brand's ongoing efforts to enhance its offerings following the outsourcing of its online and land-based sports betting technology stack.
The operator ceased all online betting operations in the state on June 30th and has not given a specific timeline for its relaunch.
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