Skip to main content

New York Hits $1.5 Billion Sports Betting Handle ... Again

Dave Bonderoff

Last Updated: May 10, 2023 2:25 PM EDT • 2 min 19 sec read.

For the ninth time since New York launched its mobile sports betting platform, the state's online sports betting sites managed to cross the $1.5 billion monthly handle mark in April.

The New York State Gaming Commission released its April 2023 revenue figures this week, and by all accounts, the wagering scene in the Empire State was brisk, despite no NFL or March Madness, and scaled down NBA and NHL playoff schedules.

New York sportsbooks did experience a sharp month-over-month drop-off in sports betting activity but saw increased action when compared to April 2022. April sports betting revenues were less than those in March, but like the handle, surpassed the profits that the state's wagering providers enjoyed last year at this time.

In the end, April's legal mobile and retail sports betting figures helped New York to approach another impressive milestone. With last month's figures factored in, the Empire State is now on the cusp of surpassing $1 billion in taxes collected from the New York sports betting scene.

New York's April handle

Despite no marquee sports betting event on the April calendar outside of the NFL Draft, New York sportsbooks continued to shine. The New York State Gaming Commission is reporting a $1.55 billion handle for April - the sixth time in the last seven months that the state has eclipsed the $1.5 billion handle threshold.

April's sports betting numbers came in about 14% less than the record setting month of March, when $1.79 billion was bet at New York's legal sports betting sites. However, the $1.55 billion does represent a 10.8% increase from the $1.39 billion in bets reported in April 2022.

Revenues follow same trend

Just like New York's April sports betting handle, revenues for the state's best betting sites slid from March's record-setting performance. Thanks to a respectable 9% hold, New York sportsbooks reported just under $139.9 million in revenues for April.

The $139.9 million in gross gaming revenue represents a 14.7% drop from the record $162.8 million in March, but a very positive $35 million, or a 33.3% increase from the $104.1 million in sportsbook profits reported in April 2022.

From the revenues, $70.8 million in taxes was contributed by sportsbooks to primarily New York state educational programs.

It takes the total tax contribution since New York started taking sports bets in July 2019 to $983.5 million, thanks to the state-friendly 51% tax rate. Roughly $979.3 million of that has come in the last 16 months since New York mobile sports betting sites launched in January 2022.

Tax revenue from New York's sports betting industry will hit $1 billion in May, making the Empire State the third to hit the $1 billion milestone in tax revenue.

FanDuel rules New York again

FanDuel was able to hold its grip as the most successful mobile sports betting site in New York in April. FanDuel accounted for $623.3 million of the state's overall handle, good for a 40.55% market share. The $71 million in gross gaming revenue for FanDuel New York in April accounted for 51.13% of the state's total GGR.

DraftKings finished a rather distant second in terms of handle in the Empire State. Roughly $516.4 million was spent at the DraftKings New York sportsbook last month, good for a 33.44% market share. DraftKings New York GGR came in at $44.9 million, or about 32.36% of the total state revenue take.

Caesars Sportsbook was third with a $185.3 million April handle in New York and $12.8 million in revenue. BetMGM was fourth with $126.7 million in bets and $7.1 in revenue. Rush Street Interactive completed the top-5 list with $49.1 million in bets in April and a little over $800,000 in revenue.

Written By:
Dave Bonderoff
Dave Bonderoff and betting go hand-in-hand. Both are characterized by "odds". Dave fancies himself as one of the most dedicated sports and pop-culture junkies around, to the chagrin of his family and friends. Following sports for 50 years and writing about it for 20, Dave hasn't found a sport yet that can't contribute to 2-3 straight hours of couch time. That search remains ongoing. As a good old Canadian boy, hockey is in Dave’s heart, as is curling sadly. But evolution is a real thing and that’s why football, baseball, and just about every sport on the planet has become a passion. Dave isn’t afraid to kill some time obsessing over politics or the far-too-frequent awards shows the consume the airwaves.