New York sports betting handle dips below $1.5bn in June
Empire State’s $1.47bn in monthly online total wagers the lowest since August 2023 as tax returns for year-to-date break $500m mark
New York sportsbooks saw a decline in wagering activity in June, with the state’s nine mobile operators generating $1.47bn in monthly handle according to new data from the New York State Gaming Commission.
June marked the first month since August 2023 that Empire State sportsbooks failed to clear the $1.5bn threshold for handle, which declined 25.4% month-on-month (MOM) from $1.97bn in May.
Overall wagering volume was nonetheless up 25.6% year-on-year (YOY) from $1.17bn during the same period of 2023.
Gross gaming revenue (GGR) experienced a similar monthly dip, as the $133.9m in mobile GGR for June – the second-lowest monthly total of 2024 – was down 34.1% MOM from May’s $203.4m haul.
Revenue was up on an annual basis, however, with June’s figure representing a 29% YOY increase from June 2023.
Tax payments back to the state came to $68.3m for the month, pushing the total contribution to education over the $500m marker through the first half of 2024.
On the operator side, FanDuel regained the top spot from DraftKings for monthly handle, accepting $571.3m in total bets. The Flutter-owned firm generated $67.1m in revenue from those wagers for a strong 11.7% hold.
DraftKings, meanwhile, wasn’t too far behind with $521.6m in handle but was only able to hold 7.8% of those bets, resulting in $40.9m in GGR.
Caesars took the third spot on the podium, amassing $127.8m in monthly handle and $8.6m in revenue. Bettors fared particularly well against Caesars, evidenced by a 6.7% hold that ranked well below industry averages.
BetMGM was next with $100.6m in handle and $6.8m in revenue, followed by Fanatics ($67.3m handle, $6.7m GGR) and BetRivers ($68.8m handle, $2.5m GGR).