New York Online Sports Betting Nears $19 Billion Handle in 2023

The latest report from the gaming commission shows an impressive $416.02 million in sports betting handle for the week ending December 24. This robust performance positions New York as the top sports betting market in the country, with nearly $19 billion in online sports betting handle for the year.

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Record-Breaking Revenues in the Empire State

New York’s sports betting scene is not just about high handles; it’s also setting new benchmarks in revenue. The state has already surpassed $1.5 billion in gross gaming revenue for 2023. This financial accomplishment underscores the significant role of sports betting in New York’s gaming industry.

With only one week left in 2023, the New York online sports betting handle stands at an impressive $18,876,747,663. Expectations are high for an additional $400 million to $500 million in the final week’s tally. The week leading up to December 24 alone brought in over $42.5 million in gross gaming revenue, indicating a strong finish for the year.

Leading Operators in New York’s Betting Landscape

FanDuel and DraftKings are leading the charge in New York’s online sports betting sector. FanDuel reclaimed the top spot for the week, amassing $174.6 million in handle and over $22 million in gross gaming revenue. DraftKings followed with a substantial $149.03 million in handle and $11.5 million in gross gaming revenue.

Looking forward, Fanatics Sportsbook is poised to take over PointsBet’s New York online sports betting license. The New York State Gaming Commission recently approved the transfer, marking the entry of the first new sports betting operator in New York since the state launched online sports betting in January 2022.

Our Comment on the Article

New York’s online sports betting landscape in 2023 exemplifies the dynamic and ever-growing nature of the industry. The state’s nearly $19 billion handle and over $1.5 billion in gross gaming revenue reflect not only the popularity of sports betting among New Yorkers but also the effective regulatory and operational frameworks in place.

The entry of Fanatics Sportsbook into the market signals a healthy competitive environment and potential for continued growth. As the industry evolves, it will be interesting to see how new players and innovations shape the future of sports betting in New York, providing a model for other states to follow in this rapidly expanding sector.