New York’s run of posting consecutive months that saw sports betting handles take in $1 billion ended last, but sports books in the Empire State set a new record for US jurisdictions in the month of July.
Nine online sportsbooks took in $800.8 million in accepted bets during the summer month, topping a previously held record by the state of New Jersey when it pulled in $577 million in the same month in 2021. The news comes amid new figures released by the New York State Gaming Commission this week, however, it did show that after six straight months, handles fell below the $1 billion mark.
The downward trend isn’t that big of a surprise as New York State had seen industry lows in the month of July in terms of handles, which included a three-week span that saw sportsbooks pull in $218.9 million, $212.8 million $190.2 million in accepted bets. The summer months often prove to be a tough time for sports betting with Major League Baseball as the only active league at the moment.
NFL preseason does begin this week which could help the numbers go back up. Between the nine online sports books, there was a total of $73,321,229 in gross gaming revenue.
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FanDuel has continued to rule the roost since online sports betting went live in January. They claimed 43.4% of the market in July with $347.7 million in handle. DraftKings finished the month in second claiming 26.7% of the market and Ceasers ended July in third with $118.2 million in handle.
In it’s first month of operation, Bally Bet, which recently patterned with the New York Yankees, took in $640,000 in handle and just over $40,000 in gross gaming revenue.
