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New York Reports its Lowest Sports Betting Handle in 10 Months



New York Reports its Lowest Sports Betting Handle in 10 Months

Well, it appears that even the giants are not immune to the spring/summer sports betting slowdown. New York, where many of our best sports betting sites operate, reported its lowest handle since August of last year when it released its June 2024 sports betting financials.

The New York State Gaming Commission (NYSGC) has updated its mobile sports wagering report with the latest figures for June 2024. The report shows a monthly handle of $1.47 billion, the lowest monthly handle for the New York sports betting scene since last August.

The details

June yielded a Gross Gaming Revenue (GGR) of $133.9 million, the lowest this year since February’s $131.4 million. Although monthly GGR was up 29% year-on-year, it was a significant month-on-month drop from May’s $1.97 billion and $203 million in handle and revenues, respectively. 

Comparing New York sports betting apps and retail sites, FanDuel collected the highest handle of $571.3 million in wagers and $67.1 million in revenue. DraftKings came in second with $521.6 million and $40.9 million in handle and revenue, respectively. 

In third place was Caesars, with $127.7 million wagered and $6.8 million in revenue, followed by BetMGM, where bettors spent $100.6 million, and revenue was also $6.8 million. Although Fanatics Sportsbook’s handle was only $67.3 million in June, the operator had an impressive hold of 9.96%, generating revenues of $6.7 million.

Those five books combine to create some of the most attractive New York sportsbook promos.

Other sportsbooks

Rush Street Interactive was the last operator in the state to surpass the $1 million revenue mark in June, with its BetRivers sportsbook generating $2.5 million GGR from $68.8 million in wagers. BallyBet, Resorts World, and Wynn Interactive all generated revenues below $1 million, coming in 7th, 8th, and 9th places, respectively.

New York legalized in-person sports betting in 2013, with the first retail sportsbooks launching in July 2019, a year after the US Supreme Court annulled PASPA. New York mobile sports betting launched in 2022. Today, the state has nine sports betting operators licensed by the NYSGC.

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