New York Sports Betting Brings In Record $73 Million In Tax Revenue

Written By Nicholaus Garcia on October 11, 2022
taxes new york sports betting record

New York sports betting hit a new milestone in September by generating $143.3 million in gross gaming revenue (GGR), the highest monthly total in its short history. 

But that’s not all. 

Online sports betting in the Empire State also surpassed $1 billion in handle for the seventh time since launching in January. As a result, the industry generated more than $73 million in state tax revenue, according to data from the NY State Gaming Commission — another record. 

September New York sports betting numbers

Gross gaming revenue was 15.5% higher than the original record of $124.1 million set in January. September’s record was also 43.9% higher than the $99.6 million recorded in August. 

The two biggest operators in the state remain the FanDuel Sportsbook NY, which generated $499.8 million in the betting handle and DraftKings Sportsbook NY ($422.2 million).

FanDuel generated $65.7 million in revenue, while DraftKings cleared $44.6 million. 

Combined, the two sportsbooks accounted for 73% of the NY sports betting market share. The next closest operator was the Caesars Sportsbook, with $163.2 million in handle and $18.6 million in revenue. 

Other New York sports betting operators include:

  • BetMGM – $95,667,759 ($8.6 million GGR)
  • BetRivers – $34,902,862 ($3.7 million GGR)
  • PointsBet – $23,878,986 ($1.7 million GGR)
  • WynnBet – $9,410,013 ($685,306 in GGR)
  • Resorts WorldBet – $6,365,836 ($394,796 in GGR)
  • Bally Bet – $1,263,605 ($144,756 in GGR)

2022 outlook

NY Gov. Kathy Hochul’s budget for FY2023 (April 1, 2020 – April 1, 2023) projects the state would collect roughly $615 million in tax revenue from online sports betting.

With football season underway and the return of the NHL and NBA, experts anticipate sports betting to generate around $17 billion in sports handle in 2022. Let’s not forget the New York Yankees are set to face the Cleveland Guardians in the American League Division Series, so customers will have plenty of betting options to close out the year. 

For the year, NY sports betting has totaled $11.47 billion in handle. New Jersey set the previous high of $10.9 billion in 2021.

Photo by Shutterstock
Nicholaus Garcia Avatar
Written by
Nicholaus Garcia

Nick Garcia is a senior reporter for PlayUSA. Garcia provides analysis and in-depth coverage of the gambling industry with a key focus on online casinos, sports betting and financial markets. Garcia has been covering the US gambling market since 2017. He attended Texas Tech University as an undergrad and received a Master of Arts in Journalism from Columbia College Chicago.

View all posts by Nicholaus Garcia
Privacy Policy