New York’s Sports Betting Handle Hits Lowest Point in 10 Months
New York has continued to experience a significant decrease in sports betting spending, with July numbers reaching a low not seen since last year.
LISTEN TO THIS ARTICLE:According to the July mobile sports wagering report recently released by the New York State Gaming Commission (NYSCGC), players placed bets totaling $1.4 billion during the month. This figure marked a 12-month low since July 2024, when $1.27 billion was wagered. The spending was also 15.2% lower compared to June’s $1.65 billion.
Despite the monthly decline, New York still saw year-on-year growth in its July handle and sports betting revenue. Gross gaming revenue from sports betting reached $155.8 million in the month, representing a 10.6% increase from July 2024 but a 24.8% decline from June this year. The state’s operators’ betting hold for the month was 11.1%.
In July, FanDuel maintained its first position on the revenue chart with $61.4 million in revenue from $476.9 million in handle, with a 12.87% monthly hold.
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Fanatics retained third place with $13.9 million in revenue from a $137.7 million handle, with a hold percentage of 10.09%, while BetMGM followed closely with $10 million in revenue from $98.1 million, and a 10.19% hold.
Caesars, in fifth place, generated $9.7 million in revenue from a $97.9 million handle, achieving a hold percentage of 9.91%. ESPN Bet took in $3.9 million from a handle of $37.1 million, yielding a hold of 10.51%.
The last operator to surpass $1 million in revenue was Rush Street Interactive, generating $3.4 million in revenue from a $35 million handle, which reflects a 9.71% hold.
Bally Bet had a 9.4% hold from $865,910 in revenue off a $9.2 million handle, and Resorts World rounded out the list with a revenue of $229,357 from a $2.8 million handle and hold of 8.33%.
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