New York mobile sports betting handle drops again in July

New York’s mobile sports betting handle hit a record low in July, with players spending $800.8m.

US.- Players in New York spent $800.8m on mobile sports betting in July, the lowest monthly total since the regulated market launched in January. It’s the first time since launching that total handle falls below $1bn.

July mobile sports betting handle was down 23.8 per cent from $1.05bn reached in June. Gross gaming revenue, however, increased by 1.2 per cent from $72.4m to $73.3m, making July the second-lowest month for revenue on record.

Flutter Entertainment-owned FanDuel Group remained the clear market leader with $39m in revenue from $347.7m in bets. DraftKings placed second with $15.8m in revenue off a handle of $213.5m, ahead of Caesars Sportsbook with revenue of $8.7m and a $118.2m handle. BetMGM also posted $6.3m in revenue of a lower handle of $73.2m.

PointsBet followed with $1.7m in revenue and $16.5m in player spending. Rush Street Interactive followed with revenue of $1.2m and a $20.3m handle. WynnBet took $6m in total bets and generated $431,990 in revenue, while Resorts World posted just $262,309 in revenue from $4.7m in wagers. 

Bally Bet, the latest licensed operator to go live in New York, completed the ranking of the nine operators with revenue of $40,080 and a $640,397 handle.

See also: New York passes legislation to establish Problem Gambling Advisory Council