New York Reports Most Lucrative Sports Betting Week Since Launch

Jan 15, 2024; Orchard Park, New York, USA; Buffalo Bills quarterback Josh Allen (17) celebrates a touch down in the first half against the Pittsburgh Steelers in a 2024 AFC wild card game at Highmark Stadium. Mandatory Credit: Mark Konezny-USA TODAY SportsNew York had its most lucrative sports betting week everThe New York State Gaming Commission reported more than $67 million in gross gaming revenue for the week ending Jan. 14The state took in more than $34.2 million in online sports betting tax revenue for the week

The NFL playoffs have been good to New York. Not just for the Buffalo Bills, but for the bundles of sports betting tax revenues being brought in each week.

New York reported its most lucrative sports betting week of all time, taking in more than $34.2 million in online sports betting tax revenue for the week ending Jan. 14.

The state’s $67 million in gross gaming revenue for the week topped the previous weekly high, which was set this October, by more than $5 million.

New York Sports Betting Sets Lucrative Mark

The New York State Gaming Commission reported $445,664,675 million in online sports betting handle for the week ending Jan. 14 and more than $67.2 million in gross gaming revenue. The handle ps were down compared with the last three weeks, but the gross gaming revenue total more than doubled the previous two weeks.

FanDuel again took the top spot in the state, reporting $199.9 million in online sports betting handle and more than $33 million in gross gaming revenue for the  week. DraftKings totaled $150.7 million in handle and $23.1 million in gross gaming revenue.

The New York State Gaming Commission releases handle and revenue reports for its nine NY sports betting apps, Caesars Sportsbook, DraftKings Sportsbook, FanDuel, BetMGM, WynnBET, PointsBet, Bally Bet, Resorts World Bet, and BetRivers, at the conclusion of each week.

Here are the handle breakdowns for the nine sportsbooks for the week ending Jan. 14:

FanDuel NY: $199,951,004DraftKings NY: $150,758,872Caesars Sportsbook NY: $45,841,770BetMGM NY: $26,717,836BetRivers: $10,697,296PointsBet: $6,403,592WynnBET: $2,100,329Resorts World: $1,600,241Bally Bet: $224,413

Fanatics Sportsbook will likely take over the PointsBet New York online sports betting license soon. The New York State Gaming Commission recently gave regulatory approval for the transfer of PointsBet’s online sports betting license to Fanatics Betting and Gaming, setting the stage for the first new sports betting operator in the Empire State since it launched online sports betting in Jan. 2022.

There is no timeline for the transfer of the license.

Bally Bet has resumed operations in New York after transitioning to its Kambi platform.

Here are the total handles for the nine sportsbooks since New York’s Jan. 8, 2022 launch. FanDuel is the only operator in the state to eclipse $14 billion in total handle so far.

FanDuel: $14,710,718,854DraftKings: $11,640,696,190Caesars: $5,022,661,916BetMGM: $2,637,127,356BetRivers: $1,052,168,447PointsBet: $755,341,934WynnBET: $211,996,871Resorts World: $132,808,486Bally Bet: $30,130,249

NY Sports Betting Revenues

For the week of Jan. 14, the nine sportsbooks reported a total of $67,253,743 in gross gaming revenue. At New York’s 51% online sports betting tax rate, this resulted in $34,299,408 million in tax revenue.

Here are the total gross gaming revenues for the week:

FanDuel: $33,383,093DraftKings: $23,174,791Caesars: $5,387,843BetMGM: $2,565,757BetRivers: $1,185,780PointsBet:$959,769Resorts World: $321,198WynnBET: $51,099Bally Bet: $13,932

Here are the total gross gaming revenues since the Jan. 8, 2022 launch:

FanDuel: $1,518,305,790DraftKings: $959,082,205Caesars: $365,647,820BetMGM: $177,050,579BetRivers: $60,731,282PointsBet: $47,846,375WynnBET: $10,426,087Resorts World: $7,903,655Bally Bet: $1,172,665