New York Reports Most Profitable Sports Betting Week Ever

May 12, 2024; New York City, New York, USA; New York Mets shortstop Francisco Lindor (12) reacts after a single during the third inning against the Atlanta Braves at Citi Field. Mandatory Credit: Vincent Carchietta-USA TODAY SportsNew York reported its highest weekly sports betting tax revenue total since launchThe state took in more than $36 million in sports betting tax revenue for the weekCustomers bet more than $532 million for the week ending May 12

New York continues to set sports betting records.

The Empire State had its most profitable week of sports betting ever, reporting more than $36 million in sports betting tax revenue for the week ending May 14.

It topped its previous weekly record by nearly $2 million.

New York Notches Yet Another Record

New York sports betting customers had a frenzied week of betting, as the New York State Gaming Commission reported $532,276,927 in online sports betting handle. It was the third highest handle total since the state launched sports betting in January 2022.

However, it was the most profitable week of sports betting for the state ever. The New York State Gaming Commission reported a whopping $70,935,647 in gross gaming revenue, resulting in $36,177,179 in sports betting tax revenue for the week.

It topped the previous gross gaming revenue record of $67,253,743 and $34,299,408 in sports betting tax revenue for the week ending Jan. 14, 2024.

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, Fanatics Sportsbook, 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 May 14:

DraftKings NY: $231,480,985FanDuel NY: $199,051,939Caesars Sportsbook NY: $39,978,198BetMGM NY: $29,743,400Fanatics Sportsbook: $16,429,493BetRivers: $11,405,875Bally Bet: $1,977,247Resorts World: $1,739,423WynnBET: $470,367

ESPN BET is slated to come to New York after securing market access through a $25 million deal for WSI US, LLC, from Wynn Interactive Holdings. WynnBET is still operating in the state and ESPN BET has yet to announce a transition date.

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 $17 billion in total handle so far.

FanDuel: $17,903,019,511DraftKings: $14,454,173,955Caesars: $5,717,926,400BetMGM: $3,144,745,486BetRivers: $1,281,584,714Fanatics Sportsbook: $1,026,101,276WynnBET: $229,965,335Resorts World: $164,086,576Bally Bet: $67,617,412

NY Sports Betting Revenues

For the week of May 17, the nine sportsbooks reported a total of $70,935,647 in gross gaming revenue. At New York’s 51% online sports betting tax rate, this resulted in $36,177,179 million in tax revenue, its highest total ever.

Here are the total gross gaming revenues for the week:

DraftKings: $36,518,817FanDuel: $26,898,581Caesars: $2,852,687BetMGM: $2,078,486Fanatics Sportsbook: $1,268,216BetRivers: $963,431Bally Bet: $285,040Resorts World: $42,062WynnBET: $28,327

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

FanDuel: $1,842,035,936DraftKings: $1,204,416,658Caesars: $407,298,950BetMGM: $203,378,356BetRivers: $73,216,626Fanatics Sportsbook: $64,187,755WynnBET: $11,055,561Resorts World: $10,335,226Bally Bet: $3,229,039