New York Sportsbooks Set Betting Handle Record in January

The New York State Gambling Commission, the regulator in charge of sports betting in the state, has announced the results outlining the performance of mobile sportsbooks for January. In total, the mobile betting handle in the state hit $1.79 billion, representing a new all-time-high record.

It was back in early January last year when New York launched mobile sports betting. Back then, the state set its initial record for betting handle after it hit $1.67 billion. Overall, the betting handle since the launch of mobile betting has always surpassed the billion-dollar mark with the exception of July and August when it dropped to around $800 million.

Besides a record betting handle, in January, mobile betting hit the highest GGR since the launch of the activity. In Total, mobile betting GGR last month hit $149.4 million, again setting a new record. The GGR that previously came close to this result was back in November 2022 when it hit $148.2 million.

The gambling regulator released a further breakdown of the latest figures, revealing the share of the revenue for the platform providers and the state. The $148.2 million in GGR breaks down to $73.2 million in net revenue for mobile sportsbooks, as well as $76.2 million for the state. Not unexpectedly, the two numbers represent the best results for the state and the platform providers.

Caesars, DraftKings and FanDuel Report Highest GGR, Betting Handle

A further breakdown released by the regulator reveals that FanDuel, DraftKings, and Caesars Sportsbook were the top three mobile betting providers with the highest betting handle in January. During the first month of mobile sports betting operations in New York, last year in January, Caesars was the unquestionable leader after reporting $627.4 million in betting handle.

However, in January this year, Caesars reported the third-highest betting handle, which is still an outstanding result. The sportsbook reported $223.7 million in betting handle last month, delivering $15 million in mobile sports betting GGR. This translated to $7.6 million in proceeds for the state and $7.3 in net revenue for Caesars.

The second-highest wagering handle last month was reported by DraftKings. The sportsbook’s handle last month was $593.4 million, which delivered $39.8 million in mobile sports betting GGR. Considering the 51% tax on sports betting, the state collected $20.3 million, while DraftKings’ share last month was $19.5 million.

But last month, the unquestionable leader with the highest betting handle in New York was FanDuel. The company reported $726.7 million in betting handle representing $81.9 million in GGR, two figures marking the best results for the operator since its launch in this particular market. The total GGR translates to $41.8 million in proceeds for the state and $40.1 million in net revenue for FanDuel for January.