The New York State Gaming Commission (NYSGC) reported on Friday that total sports betting for August — mobile and retail combined — was more than $877.4 million.
New York’s nine sports betting apps reported a total of $872.2 million in betting, up 8.9% from July; while retail betting totaled $5.2 million in betting. The latter was 22.9% up from $4.2 million in July.
The state’s total Gross Mobile Gaming Revenue (GGR) was over US$99.6 million, 35.8% more than in July. In August, total revenue from sports, mobile and retail betting together was $100.8 million, up 36.4% from the previous month.
State taxes for August totaled $50.7 million, up $14.8 million from July. New York has a tax rate of 51%, tied for the highest in the country with New Hampshire.
FanDuel led the market with mobile revenue of $374.5 million, while DraftKings posted $244.5 million, and Caesars Sportsbook reached $117 million. BetMGM made the top five with $72.9 million, and BetRivers’ Rush Street Interactive saw $26.5 million.
BallyBet, the latest addition to the market in July, handled a total of over $1.01 million for August, with a total of over $1.65 million in two months. Six of the nine mobile providers showed increases in their total monthly turnover, with the exception of Caesars, BetMGM and Resorts World.
The top mobile operator was FanDuel with $46.5 million, while DraftKings took in $25.8 million, and Caesars Sportsbook’s numbers soared to $12.7 million. BetMGM reported $8.7 million and PointsBet earned $2.4 million.
FanDuel’s dominance in the state continues, with the operator gaining a 43% handling share and 47% revenue share in August. DraftKings came in second with a 28% controlling share and 26% revenue share.
The start of the NFL season is expected to push that number even higher. This is the first season of the sport with legal online sports betting in New York. If the NFL season opener is any indication, it should be a profitable period for the state.
A great period for sports betting in New York
Total volume in New York for the start of the NFL season was $3.7 million, according to GeoComply. Online sports betting volume is expected to exceed $1 billion in the coming months.
PlayUSA projects the state’s first month to total $2 billion in October, facing the possibility of reaching a value of $18 billion a year. As of September 4, New York online bookmakers will total $10.4 billion in turnover, $793.9 million in revenue and $404.9 million in tax revenue.
