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Donte DiVincenzo of the New York Knicks walks off the court after being injured as we look at the New York legal sports betting financials for April 2024
Donte DiVincenzo of the New York Knicks walks off the court after being injured during the third quarter against the Indiana Pacers on May 10, 2024. Photo by Andy Lyons/Getty Images via AFP.

April usually represents the start of a major sports betting downturn in the American market but last month saw a spike in overall sports wagering activity in New York as our best sports betting sites flourished.

According to the New York State Gaming Commission April report, the carryover from March Madness and UConn's run to the Championship was obvious during the 30-day April wagering period. Not only was it the best April on record for the New York sports betting scene, but last month represented the best month for sports betting apps and retail providers since December.

Both handle and revenues rose year over year and month over month in April, likely marking the last time we will see such impressive numbers come out of the state until September and the start of the next NFL season.

$1.96 billion April handle

New York bettors came out in droves and surprised many industry insiders with $1.96 billion in accepted wagers in April, which typically sees a sharp drop in overall sports betting activity. 

It represents a 27.2% year-over-year spike from the $1.55 billion handle reported in April 2023 and is an over $100 million month-over-month improvement from the $1.85 billion that New York's best sportsbooks took in during March when the NCAA Men's and Women's Basketball tournament was in full swing. 

Year-over-year sports betting handle increases for New York sports betting apps and retail sites could realistically continue thanks to the New York Knicks and the New York Rangers making a run toward the championship in their respective leagues.

Revenues impress too

Along with the unforeseen nearly $2 billion handle came a nice year-over-year and month-over-month spike in operator revenues for New York's best sports betting sites. Residents almost certainly took advantage of numerous New York sportsbook promos.

Gross Gaming Revenue for New York state providers came in at a whopping $183.79 million in April, the highest revenue total in the Empire State market since January.

That figure represents a solid 32.4% year-over-year increase in revenues for New York State providers from the nearly $139.3 million from April 2023 and an over $31 million month-over-month jump from the $152.55 million in profits from March.

In April, New York sports betting apps paid 93.73 million in taxes to needy state and local coffers, a 33.4% year-over-year increase in that metric.

FanDuel and DraftKings in a close battle

The two betting behemoths, FanDuel and DraftKings, engaged in a familiar, tough battle to be the best New York sports betting app in April. In terms of handle, just about $45 million separated the two.

FanDuel New York ultimately came out on top with a $780.5 million April handle in the Empire State and more than $91 million in revenues. DraftKings New York checked in a close second with nearly $737 million in accepted wagers and more than $63 million in revenues from April.

Caesars Sportsbook New York claimed the final podium spot with $158.85 million in bets in April and $10.35 million in revenue, while BetMGM New York rounded out the top four with nearly $130.2 million in bets and $9.1 million in revenue.

PENN Entertainment had its second-best month ever in the Empire State. Its Fanatics Sportsbook checked in fifth with a $74.1 million handle and $5.56 million in revenue. BetRivers was sixth, with $67.1 million in bets and nearly $3.27 million in revenue.

Bally Bet New York was next with $7.72 million in April wagers and $580,801 in profits, Resorts WorldBet New York took in $6.35 million in bets and made $616,681 in revenue and WynnBET New York reported $1.887 million in April bets and just $85 K in revenue.