The New York State Gaming Commission (NYSGC) reported last week that the total sports betting handle in November exceeded $1.5 billion. That number is the highest since March when total money wagered hit $1.64 billion and the 3rd highest month overall since online wagering became legal in January.
Revenue and Taxes
For the month, the Gross Gaming Revenue (GGR) totaled $148.2 million, the third consecutive month the state has set a revenue record for online betting returns. The state also reported more than $75 million in tax revenue, a 1.7% increase from October. New York’s tax rate is 51%, tied with New Hampshire for the highest in the country.
By The Numbers
There are five big operators in the state of New York, the two main ones being, FanDuel and DraftKings. The other three are Caesars Sportsbook, PointsBet, and BetMGM. Here is a breakdown of the total wagered on each book in November.
- Fanduel – $646.2 million
- DraftKings – $498.7 million
- Caesars Sportsbook – $200.3 million
- BetMGM – $111.4 million
- PointsBet – $40.8 million
Wrap Up
It is no secret that online sports wagering is a popular hobby for not only the state of New York but for the entire country as well. The state recognizes the increased popularity and is working to take measures for regulating the industry. This is to try and curb “predator” promos run by the sportsbooks.