NY Online Sports Betting Cools Off in November
New York's weekly wagering volume and revenue have decreased. The betting handle and gross gaming revenue for the week of November 13, 2022, were US$339 million and US $31.3 million respectively. New York will celebrate a year of online sports betting in less than two months.
NY Online Sports Betting Cools Off in November. New York State Gaming Commission released its latest weekly report on the local internet sports betting model. For the week that ended on November 13, 2022, the digital sportsbooks handled a total of US$339.9 million in wagers. This was a slight decrease of 3.8% in comparison to the US $353 million from the prior week. The decline in revenue was significantly higher for the weekend of November 14, with US$.31.3 million accumulated. FanDuel once again ruled supreme for this week, handling the most wager – US.$140.1 million and getting the highest revenue – $17.2 million. DraftKings was second-best, but reported a weekly volume of US.$111. 1 million, and revenue of $7.7 million for that week - a 27.5% decline.
In October, the nine online sportsbooks generated over US$145 million in gross gaming. The revenue is taxed at 51%, which renders to over $74.3 million for the state. October’s financial numbers have now pushed the total tax revenue since launch over the US $500 million mark.
