This past November, the New York State Gaming Commission reported that online sports betting earned $280,556,234 in revenue, setting a new record for the state. The previous record for the state was set in May, with a total of $248,906,754 in revenue earned.
The New York State Gaming Commission is responsible for releasing reports on the handle and revenue reported by the nine New York sports betting apps that are active. The nine sports betting apps they release reports at the end of each week for are FanDuel, Fanatics Sportsbook, BetRivers, Caesars Sportsbook, theScore Bet, DraftKings Sportsbook, BetMGM, Bally Bet, and Resorts World Bet.
Out of the nine sports betting apps operating in New York, FanDuel New York has maintained its top spot in the state in both total money handled and gross revenue. FanDuel handled more than $29 million more than their closest competitor and earned $3 million more in revenue.
The sports betting scene has generated billions of dollars, which has been a significant boon to the state. In the state of New York, with a 51% tax rate, it has earned a combined total of $264,844,011 from taxes in October and November.
Based on the reports, it seems that Thanksgiving weekend had a major impact on why November broke the records. During Thanksgiving weekend, the total amount of money handled rose by 18.6% from the previous week.
While Thanksgiving was a major increase in the number of wagers, this is not expected to be repeated to such an extent for December holidays such as Christmas. However, with a upcoming NFL Broadcast to occur on Netflix and the state entering a festive mood, another spike in betting activity might be on the horizon.
