New York Sportsbooks Smash Weekly Revenue Record

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The Manhattan skyline is seen during sunrise on June 08, 2023 in New York City. Michael M. Santiago/Getty Images/AFP

Start spreading the news. New York sportsbooks recently set an impressive record.

The Empire State saw a total gaming revenue of $67 million for the week ending January 14, which amounted to the state earning more than $34 million in taxes. It’s the highest total New York has ever generated from online sports betting.

The $67 million figure beat the previous record set in October by more than $5 million. In fact, the gross gaming revenue more than doubled in the previous two weeks. This shows that sports betting is bringing in significant money for New York.

NFL Playoffs Fuel a Big Hold for Online Sportsbooks in New York

The big numbers can be attributed, in part, to the first round of the NFL playoffs.

The NFL wild card weekend propelled New York to a profit that topped 15%. It’s the second-highest after the week of October 15.

Sportsbook operators made out well, especially with the unexpected loss of the Dallas Cowboys to the Green Bay Packers, who were the seventh seed. This upset likely caused many betting combinations (parlays) to go bust, leading to more wins for the sportsbooks.

Another significant win for the sportsbooks was the Cleveland Browns losing 45-14 to the Houston Texans in the first postseason game. That loss also surprised many bettors and non-bettors alike.

This week marked the fifth time in 106 weeks of mobile betting that revenue exceeded $50 million. Interestingly, three of these instances occurred in the last 14 weeks. Although the overall amount of bets placed (handle) was nearly $446 million, which is 1.4% less than the first week of 2024, the sportsbooks still came out ahead.

Handle Also Hits High Mark in New York

The New York State Gaming Commission also released its weekly report on sports betting handle for its nine NY sports betting apps, which include:

  • FanDuel
  • DraftKings Sportsbook
  • Caesars Sportsbook
  • BetMGM
  • PointsBet
  • Bally Bet
  • Resorts World Bet
  • BetRivers
  • WynnBET

For the week ending January 14, the total online sports betting handle was almost $446 million. FanDuel continued to lead the state in online sports betting handle, reporting almost $200 million for the week, while DraftKings followed with nearly $151 million in handle. FanDuel also reported $33 million in gross gaming revenue, while DraftKings reported a little more than $23 million.

New Online Sportsbook Set to Debut

The New York State Gaming Commission already approved the transfer of PointsBet’s online sports betting license to Fanatics Betting and Gaming. This regulatory approval sets the stage for the first new sports betting operator in the Empire State since it launched online sports betting in January 2022.

Fanatics Sportsbook is expected to take over the PointsBet New York online sports betting license soon. This acquisition will give Fanatics market access in 14 additional states, including New York.

So, it appears that the interest in sports betting apps in New York is only getting stronger. And with big-time events like the Super Bowl, March Madness, and The Masters just around the corner, New York may have the chance to top itself once again in the coming weeks. We’ll see.