New York Surprises with Near $2 Billion Handle in April 2024

Typically, April marks the beginning of a decline in sports betting in the American market. However, last month saw a surge in sports wagering activity in New York as our top sports betting sites thrived.

The New York State Gaming Commission’s April report revealed a significant boost in sports betting activity during the 30-day wagering period, thanks to the carryover from March Madness and UConn’s Championship run. April was the best month on record for the New York sports betting industry, with both sports betting apps and retail providers experiencing their highest levels of activity since December.

Both the handle and revenues increased year over year and month over month in April, indicating that we may not see such impressive numbers again until September when the next NFL season begins.

$1.96 billion April handle

In April, New York bettors exceeded expectations by placing $1.96 billion in wagers, surprising industry insiders who were anticipating a decrease in sports betting activity during that month.

This marks a 27.2% increase compared to the $1.55 billion handle reported in April 2023, and is over $100 million higher than the $1.85 billion taken in by New York’s top sportsbooks in March during the NCAA Men’s and Women’s Basketball tournament.

The continued success of the New York Knicks and the New York Rangers in their respective leagues could lead to a continued increase in sports betting handle for New York sports betting apps and retail sites year-over-year.

Revenues impress too

The unexpected $2 billion handle brought a significant increase in operator revenues for New York’s top sports betting sites, with a year-over-year and month-over-month spike. It is likely that residents capitalized on various New York sportsbook promotions.

In April, New York state providers raked in an impressive $183.79 million in Gross Gaming Revenue, marking the highest revenue total in the Empire State market since January.

The figure indicates a strong 32.4% increase in revenues for New York State providers compared to the previous year, with profits totaling nearly $139.3 million in April 2023. This marks a significant month-over-month increase of over $31 million from the $152.55 million in profits earned in March.

In April, New York sports betting apps contributed $93.73 million in taxes to support state and local needs, marking a 33.4% increase compared to the previous year.

FanDuel and DraftKings in a close battle

In April, FanDuel and DraftKings, the two giants of the betting industry, competed fiercely to claim the title of the top New York sports betting app. The difference in handle between the two was only around $45 million.

In April, FanDuel New York emerged as the leader with a $780.5 million handle and over $91 million in revenues, while DraftKings New York closely followed with nearly $737 million in wagers accepted and more than $63 million in revenues.

Caesars NY secured the third spot on the podium with $158.85 million in bets and $10.35 million in revenue in April, while BetMGM NY finished in fourth place with close to $130.2 million in bets and $9.1 million in revenue.

In the Empire State, PENN Entertainment experienced its second-highest performing month to date. Fanatics Underscoreg came in fifth place with a handle of $74.1 million and revenue of $5.56 million, while BetRivers followed closely behind in sixth place with $67.1 million in bets and almost $3.27 million in revenue.

In April, Bally Bet New York achieved $7.72 million in wagers and $580,801 in profits. Resorts WorldBet New York received $6.35 million in bets and generated $616,681 in revenue. WynnBET New York reported $1.887 million in bets and $85,000 in revenue for the same month.