Healthy Handle, High Hold Continue In New York
New York sports bettors have picked up the pace since the summer lull. The weekly handles this fall have been in line with the spring. For the week ending Oct. 16, the nine regulated sportsbooks in the state reported handle of $323 million.
High hold rates persist in New York sports betting. Gross gaming revenue for the week was $37.2 million. New Yorkers placed $1.26 billion in wagers in September. The state's sports bettors placed about $2 billion last week. The 51% tax rate on GGR is tied with New Hampshire for highest in the nation.
New York is the sports betting capital of the U.S. New Yorkers have bet $12.26 billion on sports since the state launched regulated mobile gambling. Operators have hauled in $994 million in gross gaming revenue and $507 million since launch. Three operators have seized about 80% of New York’s market share.
