New York Online Sports Betting Keeps Rolling Along

Oct 26, 2023; Orchard Park, New York, USA; Buffalo Bills tight end Dalton Kincaid (86) celebrates scoring a touchdown against the Tampa Bay Buccaneers in the second quarter at Highmark Stadium. Mandatory Credit: Mark Konezny-USA TODAY SportsAnother week, another $22.4 million in New York sports betting taxesThe state gaming commission reported nearly $454.1 million in online sports betting handleHandle has decreased for three straight weeks, but tax revenue has increased over last three weeks

Death and New York online sports betting taxes…the only inevitabilities in life.

The New York State Gaming Commission reported another successful week for the state, as online sports betting brought in more than $22.4 million in sports betting tax revenues for the week ending Nov. 12.

It’s the third straight week of increased online sports betting tax revenues in the Empire State.

New York Keeps Moving into November

The New York State Gaming Commission reported $454,072,838 in sports betting handle for the week ending Nov. 12. It’s the third straight week of decreasing online sports betting handle for the state, but also the third straight week increased gross gaming revenues. The commission reported $43.93 million in gross gaming revenue, an increase of $6 million from the previous week.

FanDuel again sat atop all operators for the week, totaling $189.9 million in online sports betting handle and just a little more than $21 million in gross gaming revenue.

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The New York State Gaming Commission releases handle and revenue reports for its nine NY sports betting apps, Caesars Sportsbook, DraftKings Sportsbook, FanDuel, BetMGM, WynnBET, PointsBet, Bally Bet, Resorts World Bet, and BetRivers, at the conclusion of each week.

Here are the handle breakdowns for the nine sportsbooks for the week ending Nov. 12:

FanDuel NY: $189,913,032DraftKings NY: $163,762,377Caesars Sportsbook NY: $48,256,898BetMGM NY: $27,441,125BetRivers: $15,464,666PointsBet: $5,861,355WynnBET: $2,231,619Resorts World: $1,141,767Bally Bet: $0

Fanatics Sportsbook will likely take over the PointsBet New York online sports betting license soon. The New York State Gaming Commission recently gave regulatory approval for the transfer of PointsBet’s online sports betting license to Fanatics Betting and Gaming, setting the stage for the first new sports betting operator in the Empire State since it launched online sports betting in Jan. 2022.

There is no timeline for the transfer of the license.

Bally Bet recently announced it is live again in the state after transitioning its online sports betting platform to Kambi. It will begin reporting its numbers on a weekly basis.

Here are the total handles for the nine sportsbooks since New York’s Jan. 8, 2022 launch. FanDuel is the only operator in the state to eclipse $12 billion in total handle so far.

FanDuel: $12,912,453,337DraftKings: $10,118,901,53Caesars: $4,606,633,239BetMGM: $2,381,849,011BetRivers: $928,399,299PointsBet: $697,946,910WynnBET: $191,327,152Resorts World: $115,294,494Bally Bet: $16,370,924

NY Sports Betting Revenues

For the week of Nov. 12, the nine sportsbooks reported a total of $43,932,124 in gross gaming revenue. At New York’s 51% online sports betting tax rate, this resulted in $22,405,383 million in tax revenue.

Here are the total gross gaming revenues for the week:

FanDuel: $21,004,401DraftKings: $15,286,252Caesars: $2,840,179BetMGM: $1,979,481BetRivers: $1,437,119PointsBet: $863,410Resorts World: $226,159Bally Bet: $0WynnBET: ($88,397)

Here are the total gross gaming revenues since the Jan. 8, 2022 launch:

FanDuel: $1,337,731,950DraftKings: $827,219,426Caesars: $336,610,523BetMGM: $160,188,607BetRivers: $52,993,549PointsBet: $42,851,246WynnBET: $10,535,062Resorts World: $6,955,333Bally Bet: $917,669