The state of New York has crossed $25 billion in all-time sports wagering handle with the New York state Gambling Commission reporting of $1.17 billion worth of wagers for the month of June.
The Empire State joined neighboring New Jersey and Nevada in that rarified handle air, with the overwhelming majority of its $25.8 billion handle coming in the last 18 months, following the launch of mobile wagering in January 2022. New York has cleared $1 billion handle in 16 of 18 months in its mobile era, highlighted by an all-time post-PASPA high for any state of close to $1.8 billion in January.
New York’s nine mobile sportsbook and four retail locations reported adjusted gross revenue totaling $104 million for June, the lowest monthly haul to date for 2023. Online revenue accounted for all but $128,857 of that total. Despite the year-low figure, it was still 43.5% higher compared to June 2022, aided by an 8.9% hold that was more than two full percentage points higher.
New York’s $9.5 billion handle for 2023 is 6.6% higher compared to the first half of 2022, while revenue has surged 34.4% to $817.8 million. The house has been getting the better of the betting public, with the 8.9% hold up 26.3% versus the first six months of last year.
The state collected $53 million in tax receipts in June, lifting the total for 2023 to $416 million. That is running $106 million ahead of last year’s pace and well above then-Gov. Andrew Cuomo’s estimate of $500 million in annual tax revenue when he made his push to legalize mobile wagering with a 51% tax rate back in 2021.
The Empire State joined neighboring New Jersey and Nevada in that rarified handle air, with the overwhelming majority of its $25.8 billion handle coming in the last 18 months, following the launch of mobile wagering in January 2022. New York has cleared $1 billion handle in 16 of 18 months in its mobile era, highlighted by an all-time post-PASPA high for any state of close to $1.8 billion in January.
New York’s nine mobile sportsbook and four retail locations reported adjusted gross revenue totaling $104 million for June, the lowest monthly haul to date for 2023. Online revenue accounted for all but $128,857 of that total. Despite the year-low figure, it was still 43.5% higher compared to June 2022, aided by an 8.9% hold that was more than two full percentage points higher.
New York’s $9.5 billion handle for 2023 is 6.6% higher compared to the first half of 2022, while revenue has surged 34.4% to $817.8 million. The house has been getting the better of the betting public, with the 8.9% hold up 26.3% versus the first six months of last year.
The state collected $53 million in tax receipts in June, lifting the total for 2023 to $416 million. That is running $106 million ahead of last year’s pace and well above then-Gov. Andrew Cuomo’s estimate of $500 million in annual tax revenue when he made his push to legalize mobile wagering with a 51% tax rate back in 2021.
