The New York State Gaming Commission reported $45.5 million in mobile sports betting revenue for the week ending May 26 on Friday, sending the all-time tax revenue generated from those operators above $2 billion.
Mobile sports betting launched in the Empire State in January 2022, and it put New York on a fast path to be the No. 1 market in the United States. The 51% tax rate for its nine digital operators — the highest in the country — has contributed to New York also being the only state with more than $600 million in state taxes generated in the post-PASPA era.
Receipts for the week ending Sunday totaled $23.2 million as all nine operators finished with positive revenue. It was a good week for the group, in general — wagering via the sports betting apps resulted in a robust 11.7% hold against $389.7 million in handle. It was the first time since the week ending February 4 that handle failed to reach $400 million, but eight of the nine operators had a win rate of at least 9%, with six reaching double digits.
DraftKings tops monthly handle and revenue
May has been good to DraftKings, which set the state’s all-time record for weekly revenue at $36.5 million for May 12. A fortnight later, it topped $20 million for the eighth time in 125 weeks of action thanks to a 13.1% hold on $155.7 million worth of wagers that resulted in $20.5 million in winnings. Three of DraftKings’ eight instances of surpassing $20 million in weekly revenue have occurred in the last six weeks.