New York sports betting got back into the $2 billion handle club in September and posted a number that was 17.6% higher year over year.
The only state to reach that milestone, New York did it for the fourth time, and the $2.07 billion handle is third-highest since sports wagering went live in January 2022. It's also the leading amount wagered in a single month in 2024. New York sports betting reached $2 billion in wagers three times last football season.
The Empire State’s nine online sportsbooks capitalized on the fall’s first full month of NFL and college football as action rose 44.3% from August. The New York Gaming Commission reported $204.7 million in revenue, a number 23.6% higher year-over-year and up 63.8% from the $125 million collected in August.
It's the third month of more than $200 million in revenue in 2024 and second-most all-time behind January’s $211.5 million. The 9.9% hold was up a half point from September 2023 and more than a point compared to the previous month.
The Empire State’s 51% tax rate put $104.4 million in New York’s coffers, and the year-to-date total surpassed $750 million.
Early returns
ESPN BET launched in the New York market on Sept. 26 and generated $4 million in wagers in the final five days of the month. PENN Entertainment acquired WynnBet’s Empire State operating license for $25 million earlier this year and received regulatory approval in time for the last football weekend of September.
ESPN BET reported $103,273 in revenue for the month on a 2.6% hold. The New York sports betting newcomer got off to a better start in the first week of October, recording $1.1 million of revenue on a $9.1 million hande, thanks to a 12.6% hold.
However, the online sportsbook finished about $200,000 behind BetRivers in handle to place seventh in the Empire State, ahead of only Bally Bet and Resorts World Bet.
Rival operators stay close
| Operator | September Handle | Gross Revenue |
|---|---|---|
| DraftKings | $788.3 million | $69.7 million |
| FanDuel | $784.2 million | $98 million |
| Caesars | $147.2 million | $13 million |
| BetMGM | $143.8 million | $10.3 million |
| Fanatics Sportsbook | $143.2 million | $8.4 million |
| BetRivers | $43.4 million | $3.5 million |
DraftKings generated $788.3 million in wagers in September, the second highest ever in New York for the online sports betting operator. It marked the sixth time DraftKings produced at least $700 million in handle.
FanDuel was just $4 million back with a handle of $784.2 million, its highest since the $867 million wagered in January. The online operator hauled in $98 million in revenue, behind a New York-best 12.5% hold in September. It was FanDuel’s highest monthly profit since its record mark of $109.2 million set in January.
Caesars had the third-highest handle at $147.2 million while BetMGM and Fanatics Sportsbook followed closely with each over $143 million. Caesars and BetMGM both recorded $10 million in revenue.
BetRivers generated $43.4 million in September and surpassed $3 million in revenue for the third consecutive month. Bally Bet finished seventh with a $10.7 million handle, while Resorts World Bet generated $6.6 million in wagers.
Weekly action falls slightly
New York’s online operators combined to generate a $496.2 million handle in the week ending Oct. 6. Action fell 3.8% from the previous week when Empire State sportsbooks took in more than $516 million in wagers.
However, the week’s $52.5 million revenue was just $200,000 less than the previous week and marked the first back-to-back weeks of more than $50 million since May. The 10.6% hold gave New York consecutive weeks with double-digit win rates.
FanDuel led all online operators with a $184.1 million handle for the week ending Oct. 6. DraftKings was second with a $182.4 million wagered, but it’s $21.3 million in revenue was over $2 million ahead of FanDuel.
