Mobile NY Sports Betting Sees Lowest Full Week Of Handle To Date

Written By Matthew Waters on April 5, 2022
NY sports betting

Mobile NY sports betting handle dipped to its lowest handle total in the week ending March 27 since the market launched in January.

There was $327.8 million bet for the week at online New York sportsbooks, down 23.4% from the prior week’s $428 million bet.

The decline is not stunning, considering the drop in March Madness betting opportunities. The week ending March 27 had just 12 NCAA men’s basketball championship games to bet on between the Sweet Sixteen and Elite Eight. There were 52 games combined between the four play-ins and the first and second round the week before.

Mobile NY sports betting approaching $5B bet

Even if handle for the week ending April 3 is a little lower than $327.8 million, New York could still cross $5 billion bet online in less than three months live.

There has been $4.682 billion bet since mobile NY sportsbooks launched Jan. 8. That leaves just $318 million until New York eclipses the $5 billion mark in mobile handle.

Excluding Nevada, Illinois is the fastest state to hit $5 billion bet post-PASPA at 14 months.

Weekly handle share mostly steady

DraftKings and PointsBet both saw share dips from the previous week, though the top four sportsbooks remained the same.

 HandleRevenueHoldTaxes
FanDuel$133,100,095$9,530,2877.2%$4,860,446
DraftKings$83,046,206$1,859,7072.2%$948,451
Caesars$56,915,566$2,277,5224.0%$1,161,536
BetMGM$36,354,194$-432,577-1.2%($220,614)
PointsBet$7,297,398$460,3606.3%$234,784
BetRivers$8,040,398$-48,365-0.6%($24,666)
WynnBET$1,973,837$193,5929.8%$98,732
Resorts$1,108,773$87,2317.9%$44,488
Total$327,836,467$13,927,7574.2%$7,103,156

FanDuel was the top operator in terms of both handle and revenue for the week. The operator reported 40.6% handle share and 68.4% revenue share.

BetRivers took back the fifth spot by handle share after a brief jump from PointsBet the prior week.

NY sports betting approaching $50M in March taxes

Through 27 days, New York’s eight mobile sportsbooks reported $49.6 million in taxes owed for March.

 HandleRevenueHoldTaxes
FanDuel$599,158,377$55,874,6719.3%$28,496,082
DraftKings$388,685,959$14,576,3543.8%$7,433,941
Caesars$250,407,434$16,362,2786.5%$8,344,762
BetMGM$156,911,427$3,919,0172.5%$1,998,699
PointsBet$60,764,724$3,402,0355.6%$1,735,038
BetRivers$37,806,559$1,814,5874.8%$925,439
WynnBET$8,559,408$871,24310.2%$444,334
Resorts$4,331,050$372,1178.6%$189,780
Total$1,506,624,938$97,192,3026.5%$49,568,074

Handle, revenue and taxes for the full month of March all should be up over February once the full numbers are reported. If taxes hold, that will mean more than $150 million paid to the state since the mobile launch.

That is probably why there has been so little heard about the potential expansion of mobile sportsbooks during the NY budget negotiations. Sen. Joe Addabbo Jr. told LSR no additional mobile sportsbooks would be added if it meant lower tax revenue to the state.

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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