In May, total mobile sports betting handle reached $1.35bn, while total revenue came in at $151.9m. New York has the highest gambling tax rate of all states in the US; it is for that reason that, despite how much money is bet, revenue in New York is always comparatively low to handle (total wagers).
Handle for May decreased 12% month-on-month, going down by $186m; however, gross gaming revenue increased by 9%, rising by $13m.
FanDuel, Bally’s, BetMGM, DraftKings Sportsbook, Caesars Sportsbook, Wynn Interactive, PointsBet Sportsbook, Resorts World Bet and Rush Street Interactive are the operators who collectively bring in the mobile sports betting handle and revenue of New York.
FanDuel collected $76m in revenue in May, an increase of $5m from April. However, despite revenue going up, the amount bet decreased by 10%.
Meanwhile, Bally’s only brought in $0.17m; however this is an increase from last month, compared to $0.03m in April revenue.
DraftKings sportsbook came second in terms of revenue, bringing in $48m, which is an increase of $3m in comparison to April.
The graph displays the top operators in New York during May 2023.
The top three operators for May were FanDuel, DraftKings and Caesars Sportsbook.
FanDuel accounted for 50% of mobile sports betting revenue market share in New York.
Meanwhile, DraftKings accounted for 32% of mobile sports betting revenue in New York.
Caesars Sportsbook took 9% in market share and the rest of the operators (BetMGM, Rush Street Interactive, PointsBet Sportsbook, Resorts World Bet and Bally’s) accounted for the remaining 9% of the market for May.
