Published: October 8, 2023

New York Sportsbooks Generate Record $166.8 Million Revenue (and $84.6 million in tax revenues for the state) In September, far more than Nevada or any other state

The New York State Gaming Commission reported Thursday a record $166.8 million in sports wagering adjusted gross revenue for September, the second-highest monthly total nationally in the post-PASPA era.

The operator haul bettered March’s previous New York standard of $163.6 million and is second only to the $209 million generated by Ohio sportsbooks in the state’s debut this January. The Empire State has generated 17 of the 20 all-time state monthly revenue totals that have topped $100 million.

The state’s eight mobile sportsbooks and four commercial retail ones accepted close to $1.77 billion worth of wagers. That is the third-highest monthly handle in both state and national history and came within $31.1 million of January’s record that landed just shy of $1.8 billion.

Handle surged 39.8% compared to September 2022, while revenue was only up 15% year-over-year, as the 9.4% hold was two percentage points lower compared to last year. The Empire State has the top 13 monthly national handles of the post-PASPA era, including all 10 above $1.5 billion.

The state received $84.6 million in tax revenue for September, pushing the total for the 2023 calendar year over $600 million and above $1.3 billion all-time. This year’s tax receipts are running $133 million ahead of last year’s pace, with the $1.19 billion in operator revenue 28.2% higher compared to the first nine months of 2022.

DraftKings tops $700 million handle

DraftKings led New York’s mobile operators in handle for the second straight month, topping $700 million for the first time in 21 months of wagering at $710.5 million. It joined FanDuel as the only mobile operators to crest $700 million in monthly handle, with FanDuel accomplishing the feat first in January and again in March. DraftKings also completed the double of new highs in handle and revenue as its $61.4 million in winnings breezed past the sportsbook’s previous record of $52 million in March.

FanDuel, however, continued to rule the roost when it comes to revenue. It claimed $76.9 million in winnings thanks to an 11.3% hold on $682.5 million worth of accepted wagers. It was the seventh straight month the online juggernaut posted a double-digit win rate against the betting public. FanDuel topped $70 million in revenue for the seventh time in the last 12 months.
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