New York Online Sports Betting Numbers Continue To Grow
The New York State Gaming Commission has reported that online sports betting in New York continues to thrive, with a new monthly revenue record set in March 2023. New Yorkers wagered over $1.76 billion on sports during the month, which represents a 9% increase compared to the same period in 2022. Despite the monthly betting handle being slightly lower than the record, mobile sports betting operators reported a record combined revenue of $162.8 million, while the state set a new tax record of $83 million.
FanDuel maintained its position as the market leader, accepting $740.1 million in wagers and reporting $79.6 million in revenues. This represents almost 49% of all revenues generated by mobile sports betting in New York. DraftKings was the next most popular sportsbook, accepting $589.7 million in wagers and generating $52 million in revenue, while Caesars accepted $234.7 million in wagers and reported $15.1 million in revenue.
During the first quarter of 2023, New York sportsbooks took in over $5 billion in wagers, generating over $420 million in revenue and resulting in $214.5 million in taxes for the state. These figures indicate that the online sports betting industry in New York is flourishing and shows no signs of slowing down.