New York became the first state to have its sportsbooks surpass $4 billion in revenue in the post-PASPA era Monday after the New York State Gaming Commission reported $134.2 million in operator winnings for June.
The Empire State beat neighboring New Jersey to the benchmark despite trailing by $4.84 billion in handle. New York sportsbooks, which have accepted $46.87 billion worth of wagers, have an all-time hold of 8.8% while their Garden State counterparts have a 7.5% win rate.
June’s revenue total was up 29.1% from last year while the $1.48 billion handle was up 26.2%. The 9.1% hold was up two-tenths of a percentage point as the state reaped $68.3 million in taxes. Operator winnings were down 34.2% from May, while handle slacked by 25.3%.
New York also crossed $1 billion in sports betting revenue for the calendar year, and the 51% tax rate on mobile operators helped push that total over $500 million for 2024 to $517.1 million.