New York online sportsbooks begin 2023 with record monthly GGR

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New York online sportsbooks kicked off 2023 with their best GGR and handle month to date after registering over $149m in GGR in January from a handle just shy of $1.8bn.

Data released by the New York State Gaming Commission has revealed that the Empire State’s nine mobile sports betting operators achieved a new record handle of $1.78bn to begin the year, beating the previous best of $1.69bn set during the market’s launch in January 2022.

Meanwhile, the new monthly GGR high of $149.4m topped November 2022’s $148.2m, during a month in which the New York Giants and the Buffalo Bills played two playoff games in the NFL postseason.

Despite a tax rate of 51% – a figure which has been debated in the past month – New York’s online sportsbooks earned a new net revenue high of $73.2m and paid a monthly record of $76.2m in state taxes.

Per operator, FanDuel continues to lead the way in the Empire State, achieving new heights in handle, GGR, and net revenue.

The operator reported a January handle of $726.6m (previous best  – March: $673m), a GGR of $81.8m (previous best – November: $78.2m), and a net revenue of $40.1m (previous best – November: $38.3m).

FanDuel was followed by:

  • DraftKings (Handle: $593.4m, GGR: $39.8m, Net: $19.5m)
  • Caesars Sportsbook (Handle: $223.7m, GGR: $14.9m, Net: $7.3m)
  • BetMGM (Handle: $122.9m, GGR: $7.2m, Net: $3.5m)
  • PointsBet (Handle: $58m, GGR: $3.1m, Net: $1.5m)
  • Rush Street Interactive (Handle: $47.6m, GGR: $1.9m, Net: $953,980)
  • Wynn Interactive (Handle: $10.5m, GGR: $237,385, Net: $116,319)
  • Resorts World (Handle: $5.4m, GGR: $202,984, Net: $99,462)
  • Bally Bet (Handle: $959,234, GGR: $82,934, Net: $40,638)

Last month, a bill was introduced in New York that would increase the number of online sportsbook operators in the market, reducing the state’s online sports betting tax rate as a result.