New York Sports Betting Revenue Up 9.4% In May

The New York sports betting numbers are in for the month of May, and while the overall handle in the state is down, the revenue numbers are up. FanDuel Sportsbook New York was once again the main sports betting operator in the state by a decent margin over other mobile betting apps like DraftKings.

The New York sports betting market has been live for nearly a year and a half, and the overall numbers have been impressive since launch.

May New York Sports Betting Revenue Totals $151.9 Million

Empire State sportsbooks just saw some significant revenue from sports betting. Throughout May of 2023, New York sports betting operators brought in $151.9 million in total revenue. According to SBC Americas, this total is higher than April of 2023’s $141 million, representing a 9.4% increase. While revenue increased, there was a slump in the overall sports betting handle between April and May.

New York sports bettors placed $1.54 billion in wagers throughout April, falling to $1.36 billion in May. This represents an 11.6% decrease from month to month. Betting handles across the U.S. tend to decrease heading into the summer months, as leagues like the NHL and NBA wind down. However, the overall handle is up year over year in the state of New York. While May of 2022 saw a total betting handle of $1.26 billion, May 2023 saw a 7.9% increase.

FanDuel NY Leads The Competition In May

Looking at the total numbers for May of 2023 with New York sports betting, FanDuel Sportsbook was the top sportsbook in terms of overall handle. The online betting app saw a total handle of $561.4 million throughout the month, leading all sports betting operators in the state.

DraftKings Sportsbook, a longtime rival of FanDuel since their starts in daily fantasy sports, was in second place at $471.1 million. While those two saw the majority of the NY betting handle, Caesars Sportsbook came in third with a $162.9 million handle. The MGM Resorts International platform BetMGM Sportsbook rounded out the top four with $93.8 million.

There are nine total sports betting apps available in the state, with each one contributing to the May 2023 handle, such as BetRivers Sportsbook ($35.9 million), PointsBet Sportsbook ($19.1 million), WynnBET Sportsbook ($7.9 million), Resorts World ($4.3 million), and Bally Bet Sportsbook ($2.2 million).

New York Lifetime Handle Approaches $25 Billion

On January 8th, 2022, New York sports betting officially rolled out. Since this initial launch, the state has seen some massive numbers, with over $1 billion in handle throughout its first month.

The highest number in the state came in January of 2023, with $1.79 billion in handle. This number makes sense, as both the New York Giants and Buffalo Bills played postseason football in the month, alongside regular season games by the New York Knicks, New York Rangers, New York Islanders, and Brooklyn Nets. With the addition of May 2023’s handle, the lifetime sports betting handle in New York is $23.4 billion.