New York Sportsbooks Surpass $25 Billion In Lifetime Handle

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Written By Giovanni Shorter | Last Updated
New York Sportsbooks

New York sportsbooks have continued to see strong betting activity since launching in Jan. 2022. Within the latest June wagering report, it shows that local sportsbooks in New York have seen more than $25.8 billion in lifetime bets. This news comes after sportsbooks raked in $1.17 billion that month. New York is now the third market to surpass $25 billion in lifetime handle, joining both New Jersey and Nevada.

New York Sports Betting Boom Continues

The New York sports betting market has been strong since its launch. In the 18 months with active sports betting, New York has seen $1 billion in monthly handle in 16 of them. So far in 2023, New York sportsbooks have seen $9.5 billion in wagers.

This substancial handle has also led to massive revenue for sportsbooks. The June NY wagering report shows local operators saw $104 million in adjusted gross revenue (AGR). It comes off of an 8.9% hold rate for June.

With New York taxing sportsbooks at 51%, the state hauled in $53 million. This year alone, the Empire State has seen $416 million in tax revenue from sports betting.

Mobile Market Now Dominated By DraftKings

The best sports betting sites continue to be the primary way fans wager in the Big Apple. Mobile apps were responsible for more than 97% of the total betting market for June. Online operators also produced more than 99% of the total GGR.

In an interesting turn of events, DraftKings has managed to claim the top spot in June. DK saw $488.5 million in wagers last month, giving the popular sportsbook a 41.9% market share. Keep min mind, DraftKings is usually on the heels of FanDuel.

Meanwhile, the former No. 1 operator saw $417.2 million in betting handle for June. That figure pushed FanDuel’s lifetime handle in the Big Apple to surpass $10 billion. Caesars Sportsbook rounded out the big three with $124.8 million in bets for June.

New York’s mobile market continues to be the envy of the industry. Mobile wagering alone contributed $4,069,439,744 in handle and $394,616,445 in revenue in 2023. With such a robust mobile market, New York will continue to dominate.

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