New York Online Sports Betting Has Generated More than $65 Million in September Tax Revenue

Bills quarterback Josh Allen congratulates Latavious Murray after his touchdown.The New York State Gaming Commission reported $428.34 million in online sports betting handle for the week ending Sept. 24The commissioner reported $35.9 million in gross gaming revenue for the weekSo far in September New York has taken in more than $65 million in sports betting tax revenue

New York online sports betting and football are a match made in heaven.

As expected, sports betting in the Empire State has skyrocketed as bettors have flocked back to their favorite sportsbook apps as both NFL and college football kicked off their seasons earlier this month.

New York online sports betting has generated more than $65 million in sports betting tax revenue so far in September.

DraftKings Handle Remains on Top For Another Week

DraftKings continued its strong run this month, reporting the highest online sports betting handle for the week ending Sept. 24. DraftKings reported $176.01 million in handle for the week compared with FanDuel’s $160.14 million. FanDuel, however, topped DraftKings in terms of gross gaming revenue for the week, reporting $14.78 million compared with DraftKing’s $13.9 million.

The New York State Gaming Commission reported $428,341,908 in total online sports betting handle for the week, an increase of nearly $28 million.

The New York State Gaming Commission releases handle and revenue reports for Caesars Sportsbook, DraftKings Sportsbook, FanDuel, BetMGM, WynnBET, PointsBet, Bally Bet, Resorts World Bet, and BetRivers at the conclusion of each week.

Here are the handle breakdowns for the nine sportsbooks for the week ending Sept. 24:

DraftKings NY: $176,013,275FanDuel NY: $160,145,890Caesars Sportsbook NY: $43,390,940BetMGM NY: $26,244,993BetRivers: $11,540,691PointsBet: $6,403,791WynnBET: $2,515,017Resorts World: $2,087,311Bally Bet: $0

Bally Bet ceased operations on June 22 while it transitions to Kambi’s sports betting platform. It has launched again in several states, but is still waiting to begin operations in New York.

Here are the total handles for the nine sportsbooks since New York’s Jan. 8, 2022 launch. FanDuel is the only operator in the state to eclipse $11 billion in total handle so far.

FanDuel: $11,536,448,641DraftKings: $9,019,849,972Caesars: $4,297,454,834BetMGM: $2,208,171,689BetRivers: $771,963,380PointsBet: $654,337,052WynnBET: $172,599,544Resorts World: $103,279,062Bally Bet: $16,370,924

NY Sports Betting Revenues

For the week of Sept. 24, the nine sportsbooks reported a total of $35,918,741 in gross gaming revenue. At New York’s 51% online sports betting tax rate, this resulted in $18,318,557 million in tax revenue.

Here are the total gross gaming revenues for the week:

FanDuel: $14,787,845DraftKings: $13,926,794Caesars:$3,120,817BetMGM: $2,112,700BetRivers: $1,184,812PointsBet: $551,812WynnBET: $171,647Resorts World: $62,314Bally Bet: $0

Here are the total gross gaming revenues since the Jan. 8, 2022 launch:

FanDuel: $1,205,307,273DraftKings: $731,042,988Caesars: $318,236,881BetMGM: $147,944,232BetRivers: $46,793,595PointsBet: $39,716,301WynnBET: $10,289,800Resorts World: $5,695,953Bally Bet: $917,669