Mobile NY Sports Betting Hits $1.5B Handle In February

Written By Matthew Waters on March 7, 2022
NY sports betting

The seven active mobile NY sports betting operators combined for $1.491 billion in bets through all but one day of February.

Considering that average handle per day works out to $55.2 million, it should be safe to assume the entire month of February will eclipse the $1.5 billion mark. The official monthly breakdown might not come until next week.

That sets New York sportsbooks up to pay about $41 million in taxes for February. That would push total taxes paid to more than $100 million already for less than two months after $63.2 million paid in January.

Mobile NY sports betting recap

Operators took $350.3 million in handle for the week ending Feb. 27. That was down just 0.9% from the prior week.

 HandleRevenueHoldTaxes
FanDuel$131,988,617$10,438,3997.9%$5,323,583
DraftKings$87,378,019$7,357,0548.4%$3,752,098
Caesars$68,267,344$4,031,2015.9%$2,055,913
BetMGM$37,841,561$1,909,4775.0%$973,833
PointsBet$14,359,673$691,9214.8%$352,880
BetRivers$8,481,025$598,1497.1%$305,056
WynnBET$2,000,044$311,26515.6%$158,745
Total$350,316,283$25,337,4667.2%$12,922,108

FanDuel again led the market with a 37.7% handle share. Peter Jackson, CEO of FanDuel parent company Flutter, said during an earnings call that FanDuel’s customers are “voting with their feet” and returning after taking promo dollars from competitors.

While FanDuel is also the handle leader for the month through Feb. 27, DraftKings still leads with 36.4% of all revenue. Caesars Sportsbook, which initially led handle share after launching with the richest promo offer, is third with a 21.2% handle share in February.

 HandleRevenueHoldTaxes
FanDuel$552,597,699$22,166,9554.0%$11,305,147
DraftKings$379,663,640$29,349,4447.7%$14,968,216
Caesars$316,545,716$19,754,2226.2%$10,074,653
BetMGM$150,334,959$3,487,9242.3%$1,778,841
PointsBet$50,794,134$3,111,0506.1%$1,586,636
BetRivers$36,127,274$1,945,4695.4%$992,189
WynnBET$4,861,510$731,04315.0%$372,832
Total$1,490,924,932$80,546,1075.4%$41,078,515

Another operator will join the mix on the next report. Resorts WorldBET launched with PointsBet as its platform provider Thursday.

Market will not stay slow for long

It could feel a bit ridiculous to call $350 million in handle for one week ‘slow.’ That is likely how it will look in comparison to weeks with March Madness betting, though.

Selection Sunday is this week, with First Four games starting Tuesday. That means the first report including March Madness handle should come out March 25 and will include betting through the second round.

There will not be any betting on New York colleges in the state, either – and not because most look likely to miss the tournament. New York does not allow betting on in-state colleges, nor does it allow any college player props.

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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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