Do you remember? Dancin’ in September. Never was a cloudy day. It’s hard to tell, but Earth, Wind, and Fire may have been referencing the sports betting revenue numbers in September 2023 in their smash hit “September.”
According to the New York State Gaming Commission, it was a September like no other. Sports betting in the Empire State made more money than ever before, clearing nearly $166 million. That’s just a bit more than their previous best in March, which was nearly $163 million.
Handle also increased year-on-year. The total $1.76 billion spent was nearly 40% higher than $1.26 billion in September 2022 and almost 59% ahead of the $1.11 billion the state received in August 2023. The hold of 9.2% in September was also up slightly from the 8.9% in August.
New York now holds the record for the top 13 monthly national betting amounts since the end of the PASPA era. Out of these, 10 have been over $1.5 billion. On top of that, the state had its own payday with a record tax collection of $84.4 million.
Who’s Leading in the Betting Race?
DraftKings took the crown in September with a whopping $710.5 million in bets placed on their platform. Close on its heels is FanDuel with more than $682 million and rounding out the top three is Caesars, with a respectable $174 million.
Here are some other big names and how they fared:
- BetMGM: $100.7 million
- Rush Street Interactive: $50 million
- PointsBet (A Fanatics Experience): $23.8 million
- Wynn Interactive: $10.9 million
- ResortWorld Bet: $6.8 million
Bally Bet remains closed, while it continues working to improve its services in New York. To help with this, Bally Bet has teamed up with sports betting expert, Kambi, and the PAM platform specialists at White Hat Gaming. They aim to upgrade both their online and on-location betting systems.
New York’s Top Sports Betting Revenue Generators
DraftKings may have won the betting race in September, but it was FanDuel that snagged the top revenue spot, raking in $76.9 million. DraftKings did finish second, managing to generate $61.4 million.
Caesars followed suit in the third spot, although there was quite a gap, with earnings at $12.6 million.
Here’s a snapshot of how the others stacked up:
- BetMGM: $8.2 million
- RSI: $4.2 million
- PointsBet: $1.6 million
- Wynn Interactive: $367,000 (Yep, that’s right, thousands!)
- ResortWorld Bet: $346,000
The sports betting operators in New York collectively netted more than $81 million in September.
New York Retail Sportsbooks Also Have Great September
New York’s four retail sportsbooks also saw their highest earnings of the year in September, raking in $1.3 million. Each of them saw strong profits, including Tioga Downs which earned $146,000, making its total earnings $84,000 from bets worth $4.8 million this year.
Of the group, Rivers Casino stood out. They earned $541,000 from bets totaling $3.7 million. These numbers are their best for the year. Plus, Rivers is almost at a total of $25 million in earnings since New York introduced in-person betting in July 2019.
What’s Next For New York Sports Betting?
September has truly marked a significant milestone in the annals of New York’s sports betting history. With unprecedented revenues and a competitive spirit driving operators to innovate and entice bettors, the Empire State stands as a testament to the burgeoning potential of the sports betting industry.
One can only anticipate what the coming months might bring. Whether you’re a bettor or just a curious observer, it’s undeniable that New York is setting the stage for even more thrilling chapters in the realm of sports betting.
In fact, New York Mets owner Steve Cohen has made it clear he wants to transform the oft-criticized Queens neighborhood adjacent to Citi Field – and he thinks building a casino is the way to do it. So, as the games continue and the bets keep rolling in, it’ll be interesting to see where it will all take the sports betting community in New York in the coming months.
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