New York Reports Record-Breaking $2.3 Billion Sports Betting Handle in October 2024
Last Updated: November 12, 2024 1:46 PM EST • 1 min 53 sec read.
Our best sports betting sites have long flourished in the nation's biggest sports betting market: New York.
The New York State Gaming Commission (NYSGC) has published its latest and figures for October 2024. While the state’s online sportsbooks reported a record-breaking handle, the results weren’t quite as positive for the state's four commercial casinos.
Sports betting
New York sports betting apps handled $2.32 billion, surpassing the previous $2.11 billion record set in November 2023. The total amount wagered increased 12.0% month-on-month compared with the $2.07 billion handle reported in September 2024, which marked the beginning of the 2024-25 NFL season. Against the $2.0 billion recorded last October, handle rose 15.7%.
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Six of the nine mobile apps reported higher handles compared year-on-year.
Fanatics saw the largest increase, from $27.64 million to $178.43 million. ESPN BET, the most recent sportsbook to launch in the state in September 2024, reported the second-largest jump. The previous October figure represents the handle collected by Wynn Interactive before PENN Entertainment acquired its license.
| Sportsbook | October 2023 | October 2024 | Change |
| Bally Bet | $0 | $11,061,791 | N/A |
| BetMGM | $107,550,276 | $161,328,191 | +50.0% |
| Caesars | $193,238,342 | $155,087,834 | -19.7% |
| DraftKings | $652,324,695 | $813,704,016 | +24.7% |
| ESPN Bet (previously Wynn Interactive) | $12,318,670 | $40,798,959 | +231.2% |
| Fanatics | $27,640,035 | $178,433,128 | +545.6% |
| FanDuel | $891,919,134 | $907,596,756 | +1.8% |
| Resorts World Bet | $7,674,225 | $7,333,331 | -4.4% |
| Rush Street Interactive | $114,158,031 | $45,751,633 | -59.9% |
With bettors collecting more winnings in October, mobile sports wagering GGR did not reach an all-time high. This figure came to $176.35 million, up 6.0% year-on-year but down 13.9% from September, which saw the state’s second-highest GGR of $204.71 million. The state collected its record GGR of $211.5 million in January 2024.
New York sports betting operators are subject to one of the highest tax rates in the U.S. at 51%. In October, mobile sportsbooks paid around $89.94 million of their GGR total to education, supporting grants, youth sports activities, and problem gambling education and treatment. The platform providers collected the remaining $86.41 million for themselves.
Commercial casino revenue falls slightly in October
The NYSGC also published its statewide commercial gaming results this week, revealing a GGR of $53.7 million, down around 3.9% compared to the $55.9 million total collected in September 2024. Year-over-year comparisons were identical, as GGR reached $55.9 million last October. New Yorkers don't have access to real-money online casinos yet, so these figures all come from land-based options.
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Casinos' tax rates are not as high. Slot revenue is taxed at 30%, while revenue from table games and retail sports betting is subject to a 10% tax rate. As a result, operators collected $40.3 million of the GGR total, while $13.4 million was paid to the state.
New Yorkers spent over $500 million on slots and Electronic Table Games (ETGs) in October, with such games making up around 75% or $40.2 million of the revenue total. Meanwhile, table games such as blackjack, roulette, and baccarat saw around $70.2 million in wagers and contributed $12.6 million to the GGR total. Poker revenues are reported separately from other table games, with this figure reaching just above $0.8 million.
Ziv Chen
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