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New York Reports its Lowest Sports Betting Handle in 10 Months

Collins Garrett

Updated on July 10, 2024 at 10:34 AM EDT. Read time: 1 minute and 15 seconds. Links to Twitter and Google News.

New York Yankees outfielder Alex Verdugo reacts while at bat as we look at the New York sports betting financials for June 2024
New York Yankees outfielder Alex Verdugo reacts while at bat against the Tampa Bay Rays during the seventh inning at Tropicana Field. Photo by: Kim Klement Neitzel/USA TODAY Sports.

It seems that even the biggest players are feeling the effects of the spring/summer sports betting slowdown. New York, home to many top sports betting sites, saw its lowest handle since August of last year in its June 2024 financial report.

The latest figures for June 2024 from the New York State Gaming Commission (NYSGC) reveal a monthly handle of $1.47 billion in mobile sports wagering. This marks the lowest monthly handle for the New York sports betting industry since August of last year.

The details

In June, the Gross Gaming Revenue (GGR) was $133.9 million, the lowest of the year since February’s $131.4 million. Despite a 29% increase year-on-year, there was a significant decrease from May’s $1.97 billion and $203 million in handle and revenues, respectively.

In the comparison between New York sports betting apps and retail sites, FanDuel led with a total handle of $571.3 million and revenue of $67.1 million. DraftKings followed closely behind with a handle of $521.6 million and revenue of $40.9 million.

Caesars came in third place with $127.7 million wagered and $6.8 million in revenue. Following closely behind was BetMGM with bettors spending $100.6 million and revenue also at $6.8 million. Despite Fanatics Underscoreg having a lower handle of $67.3 million in June, the operator had a notable hold of 9.96% resulting in revenues of $6.7 million.

The combination of those five books results in some of the most appealing New York sportsbook promotions.

Other sportsbooks

In June, Rush Street Interactive became the final operator in the state to exceed $1 million in revenue. Its BetRivers sportsbook brought in $2.5 million in gross gaming revenue from $68.8 million in bets. BallyBet, Resorts World, and Wynn Interactive all generated less than $1 million in revenue, placing 7th, 8th, and 9th, respectively.

In 2013, New York legalized in-person sports betting, leading to the opening of the first retail sportsbooks in July 2019, following the US Supreme Court’s decision to overturn PASPA. Mobile sports betting in New York was introduced in 2022, and currently, the state has nine licensed sports betting operators regulated by the NYSGC.

Written By:
Collins Garrett
Ziv has over two decades of experience in the igaming and sports betting industry, having served in senior marketing and business development positions with both B2C and B2B companies, including Playtech and Microgaming. In 2019, Ziv decided to pursue his passion for writing and became a fulltime industry journalist, covering casino, sports, and gambling business news. He’s specialties include casino games and technology, US state gambling regulation, company performance, as well as gambling affiliates and marketing. As a Pitt graduate, Ziv is a diehard fan of all Pittsburgh sports teams, with the Steelers at the top of the list. In his free time, he enjoys reading crime fiction, biographies (mainly of sports personalities, but not only) and American history. Ziv’s Favorite quote: “We’re going to pursue perfection, knowing full well we won’t catch it, but we’re going to relentlessly chase it,” Mike Tomlin, Pittsburgh Steelers Head Coach.