NY Sports Betting Nears $2 Billion Wagered In First 30 Mobile Days

Written By Matthew Waters on February 14, 2022
NY sports betting

It will be a long time before any state challenges the records set by mobile NY sports betting in its first 30 days.

Total handle was more than $1.98 billion from launch through Feb. 6, according to a release from Gov. Kathy Hochul. That led to more than $138 million in sports betting revenue.

The state received $70.6 million in tax payments from online NY sportsbooks thanks to New York’s national-high 51% tax rate. Fiscal 2022 taxes will see 98% directed to education. Another 1% will be sent to youth sports funds, and the final 1% goes to problem gambling education and treatment.

Caesars leads NY sports betting by handle, revenue

Caesars Sportsbook still leads all operators by both handle and revenue after the first 30 days, though that lead is slipping.

 HandleRevenueHoldTax
Caesars$702,656,891$64,657,9389.2%$32,975,548
FanDuel$632,048,747$30,246,5334.8%$15,425,732
DraftKings$454,914,492$35,788,5467.9%$18,252,158
BetMGM$112,333,575$3,668,0903.3%$1,870,726
PointsBet$41,693,139$2,522,8726.1%$1,286,665
BetRivers$40,861,332$1,599,2783.9%$815,632
WynnBET$251,356$33,65713.4%$17,165
Total$1,984,759,532$138,516,9147.0%$70,643,626

Caesars has 35.4% of all handle and 46.7% of revenue since launch through Feb. 6. Neither are a surprise considering Caesars opened with more than $3,000 available in promos.

FanDuel is catching up, though. The sportsbook took 36.2% of the $359.8 million bet in the week ending Feb. 6. Caesars still led with 34.4% of the $25.5 million in revenue though DraftKings was close with a 34.1% revenue share.

 HandleRevenueHoldTax
FanDuel$130,256,763$6,632,3915.1%$3,382,519
DraftKings$87,253,254$8,689,76610.0%$4,431,781
Caesars$87,152,547$8,770,61010.1%$4,473,011
BetMGM$34,260,676$443,1101.3%$225,986
PointsBet$12,227,944$186,0591.5%$94,890
BetRivers$8,437,014$762,2439.0%$388,744
WynnBET$251,356$33,65713.4%$17,165
Total$359,839,554$25,517,8367.1%$13,014,096

WynnBET, which is reportedly for sale, took just $251,356 in bets in its first few days of operation.

Football accounted for more than $600 million in handle over the first 30 days, according to Hochul’s release. There was more than $540 million bet on basketball while hockey accounted for nearly $80 million in handle.

Plenty of new players in New York

The release also noted the more than 1.76 million unique player accounts made more than 187 million geolocation transactions, according to GeoComply.

Seven sportsbooks are live with Bally Bet and Resorts World Bet still waiting to launch:

  • BetMGM
  • BetRivers
  • Caesars
  • DraftKings
  • FanDuel
  • PointsBet
  • WynnBET

January NJ report due Wednesday

It will not take long to find out how New York’s mobile sportsbook launch affected New Jersey.

New Jersey’s regulator will release its January report for NJ sportsbooks at 2 p.m. ET Wednesday.

Only 9.3% of the 878,000 unique bettors to create accounts in the first 10 days had also bet in New Jersey, GeoComply said.

Another gambling bill moves forward in New York

Monday also saw another piece of sports betting legislation from Sen. Joe Addabbo Jr. move forward.

S 7536 moved out of his Racing, Gaming and Wagering Committee after a brief discussion. The bill would allow fixed-odds horse betting as well as sports betting kiosks at various affiliates. Those affiliates include sports stadiums and arenas, horse tracks and VLT operators.

The bill now moves to the Finance Committee.

Matthew Waters Avatar
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Matthew Waters

Matthew Waters is a reporter covering legal sports betting and the gambling industry. Previous stops include Fantini Research and various freelance jobs covering professional and amateur sports in Delaware and the Philadelphia area.

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