Return of NFL Betting Helps New York Post Huge September

It is no surprise that the return of NFL action to the U.S. legal sports betting market is leading to huge spikes in wagering activity in participating American jurisdictions.

The first indication of just how much of an affect the bread-and-butter NFL season has had on sports betting in the U.S. market came from New York, where the handle there was the third highest since legalization in January 2022.

New York's Huge September handle

According to the earnings report from the New York State Gaming Commission, a staggering $1.77 billion was spent in New York sports betting during the month of September.

$1.77 billion is not only the third highest sports betting haul for the state but is also the third-best month ever for any state in the U.S. legal sports betting scene. September also marks the 12th time in the last 13 months that the legal sports betting handle in New York has surpassed the $1 billion mark.

The record monthly handle for New York (and the nation for that matter) is $1,799,048,366, which came in January 2023. That’s when users were taking advantage of the top NY sportsbook promos, as well.

In the end, overall sports betting jumped a staggering 60% month-over-month from $1,118,163,959 in August and almost 40% year-over-year from the $1,265,553,629 in wagers taken in during September 2022.

New York’s best sports betting apps and best sportsbooks now own the top 13 best monthly handles since the 2018 U.S. Supreme Court decision to overturn its blanket ban on sports wagers. A total of 10 of those months saw state sportsbooks combine for over $1.5 billion in monthly wagers.

What about revenues?

Revenues for the New York State legal sports betting industry also spiked in September. The New York State Gaming Commission is reporting $166.8 million in adjusted gross revenue for September, the best total for New York to date, and the second highest ever in the nation. Only Ohio sports betting and its staggering $209 million in AGR during the first full month of operation in January topped what New York did in September.

September's New York sportsbook profits are 68% higher than in August when providers in the state made a little over $99 million. Year-over-year, sportsbook revenues in the Empire State rose 15% from the $145 million from September 2022.

The hold rate for New York betting sites came in at 9.2%, which is two full percentage points from the same period last year. The win rate for sports betting providers in the state is up from 8.9% in August.

New York now has 17 of the top revenue producing months seen in the broad U.S. legal sports betting industry.

Taxes paid out to needy state and local coffers in New York came in at $84.4 million for September, the highest ever. It’s up from $50.3 million in August and $73.27 million in September 2022.

DraftKings reigns

For the second straight month, DraftKings was the most successful New York sports betting app. They made up $710.5 million of the overall Empire State legal sports betting handle, a 60% improvement over August. However, DraftKings did finish second in terms of revenues in September with $61.4 million.

FanDuel was responsible for $682.5 million in bets in September, up from $422.2 million reported in September 2022. It soared FanDuel’s year-to-date handle past the $5 billion mark. They also topped the New York scene with $76.9 million in September revenues, thanks to an 11.3% hold. The company now has a staggering $1.2 billion in revenues since launch in New York and has paid over $600 million in taxes so far.

DraftKings and FanDuel combined to make up a staggering $1.4 billion of New York’s $1.77 billion September sports betting handle.

Caesars finished third in the race to be the best New York sports betting app with $174 million in bets with BetMGM rounding out the top four.