Mike Mazzeo| July 15, 2022
The summer sports betting swoon continues to hit New York as it does other states. But operators did receive a recent uptick in revenue.
For the week ending July 10, NY online sportsbooks combined for $190.2 million in handle — their third consecutive week setting a new record low ($218.9 million, $212.8 million).
Still, betting apps in New York also combined for $27 million in total gross gaming revenue — their highest weekly total since May 15 ($31 million).
Could NY sports betting streak be in jeopardy?
From Jan. 8 launch through July 10, NY sportsbooks have combined for $8.8 million in handle, $639.9 million in total GGR and $326.4 million in tax revenue.
In June, online sports betting in New York generated nearly $1.1 billion in handle, extending the industry’s streak to six straight months of accepting over $1 billion in bets.
However, that streak could be in jeopardy. Through the first 10 days in July, operators have combined for $289.4 million in handle, which would project out to nearly $900 million at this pace.
Still, pretty much every state would take that number in a slower month in terms of betting menu options. After all, Major League Baseball now stands as the only major professional sport in action. But New York has really raised the bar for the industry.
Breaking down July 10 weekly revenue for NY sports betting
As usual, FanDuel Sportsbook NY led the industry for the week ending July 10, claiming 42.2% share of overall handle. Meanwhile, DraftKings Sportsbook NY tied its industry-high for a week with a 27.4% share.
Bally Bet NY launched July 7, the last of the nine NY sportsbooks to go live in the Empire State. During the shortened period, it posted $67,941 in handle and 417,052 in revenue.
Despite Uptick In Revenue, NY Sports Betting Handle Hits Industry-Low For Third Straight Week