New York handle drops again in June
New York State’s mobile sports betting and revenue hit a record low in June, with players spending $1.05bn.
US.- Players in New York spent $1.05bn on mobile sports betting in June, the lowest monthly total since the regulated market launched in January. Revenue also fell to a record low, declining 34.1 per cent month-on-month to $72.4m.
However, New York governor Kathy Hochul noted that in under six months, New York’s mobile sports wagering has far surpassed every other state and its own Division of the Budget’s FY 2022 revenue projections. According to New York state data, the state has generated more than $302m in tax revenue from mobile sports wagering since the January 8 launch.
“In just six months, New York has become a leader among states in implementing successful gaming policies, with hundreds of millions of dollars going to important programs that will improve the lives of all New Yorkers,” Hochul said.
As for June figures, the total amount wagered was down 16.7 per cent from $1.26bn in May, marking the third consecutive month of decline. Gross gaming revenue from mobile sports betting declined 34.1 per cent month-on-month to $72.4m, also surpassing the previous record-low of $82.4m set in February.
Flutter Entertainment-owned FanDuel Group remained the clear market leader with $39.6m in revenue from $472.9m in bets. DraftKings placed second with $16.4m in revenue off a handle of $270.2m, ahead of Caesars Sportsbook with revenue of $6.3m and a $156.4m handle. BetMGM also posted $6.3m in revenue of a lower handle of $92.4m.
Rush Street Interactive followed with $1.8m in revenue and $25.3m in player spending. PointsBet followed with revenue of $1.7m and a $20.8m handle. WynnBet took $6.9m in total bets and generated $292,551 in revenue, while Resorts World posted just $32,669 in revenue from $6.8m in wagers.
With the recent Bally Bet launch, there are now nine operators online in the state.
See also: New York passes legislation to establish Problem Gambling Advisory Council
