Posted on: September 9, 2022, 03:22h.
Last update on: September 9, 2022, 03:33h.
Fueled by the first full week of college football, New York released its best handful of online sportsbooks in more than two months. Additionally, operators had their best week in nearly four months.
According to data from the New York State Gaming Commission (NYSGC), the nine operators brought in a handful of $243 million for the week ending last Sunday (September 4), about $48.5 million more than the previous week. It was the highest total wagered since bettors wagered $265.6 million for the week ending June 19. It was the same week the NBA Finals ended.
Sportsbook also reported gross gaming revenue (GGR) of $27.5 million for the week, which was its best performance since grossing $31 million for the week ending May 15.
Once again, FanDuel was the top operator in New York, accounting for $106.8 million from the handful and claiming $13.1 million from the GGR. DraftKings posted totals of $70.5 million for the handle and $8.3 in GGR.
Sports betting has generated $479.4 million in GGR since the start of the fiscal year in April, including $244.5 million for the state. New York’s 51% GGR tax primarily funds education, with money also set aside for problem gambling services and youth sports programs.
New York continues to stay well ahead of what state officials have planned for the first full online sports betting exercise. The state budget estimated that sports betting taxes would generate $357 million for the 2022-23 fiscal year.
The fiscal year will not be halfway through until the end of this month.
Sportsbook GGR up 36% in August
The NYSGC also released the full monthly figures for August. With a handful of $872.2 million, it was the second straight month under $1 billion for the state, but a nearly 9% improvement from the $800.8 million handful of July. The GGR also rose significantly, as the $99.6 million in sports bets won was nearly 36% higher than the $73.3 million reported in July.
FanDuel posted monthly totals of $374.6 million for the handle and $46.6 million in GGR for August, while DraftKings took $244.5 million in bets and won $25.9 million. dollars in revenue. Caesars finished third with $117.6 million in handful and $12.7 million in GGR, and BetMGM saw numbers of $73 million and $8.8 million for handful and GGR, respectively.
Bigger increases to come in New York
As the National Football League regular season kicks off this weekend, it would be hard to imagine that sports betting traffic isn’t increasing dramatically in New York City. In fact, from what GeoComply discovered during the opener featuring Super Bowl favorites the Buffalo Bills and last year’s champion the Los Angeles Rams, the state is already experiencing a slight increase.
In Buffalo alone, there were more than 267,000 sports betting geolocation checks on Thursday. That represented a 210% increase in traffic from the previous Thursday, according to fraud prevention and cybersecurity solutions provider GeoComply. GeoComply provides geofencing services for major US sportsbooks.
Obviously, traffic would increase in Buffalo, given that the Bills were playing. But GeoComply also noted that statewide there were 3.7 million geolocation checks for the primetime season-opening contest.
We are delighted for the @BuffaloBills‘ home state, not least because it’s a major defeat for the black market. As punters flock to regulated sports betting, they are enjoying a safer experience that protects their rights,” the company tweeted on Friday afternoon.
We are delighted for the @BuffaloBills‘ home state, not least because it’s a major defeat for the black market. As punters flock to regulated sports betting, they enjoy a safer experience that protects their rights.
— GeoComply (@GeoComply) September 9, 2022
The state’s report next week will include betting on all NFL games through Sunday night, so we’ll see how much the state sees an increase.