Is Online NY Sports Betting 'Broken' While Revenue Pours In?

The jockeying around the online NY sports betting tax rate discussion at next year’s legislature already is underway.

New York online sports betting handle fell $33 million from Week 1 of the NFL season to Week 2. Operators combined for $297 million in NY online sports betting handle from Sept. 12-18 after combing for $330 million from Sept. 5-11. 

NY online sportsbooks amassed nearly $40 million in revenue from Sept. 12-18, though the hold was 13.4%. That is nearly double the national average since the fall of PASPA (7.3%.) 

Overall, NY online sportsbooks have combined for $11 billion in handle this year (Jan. 8-Sept. 18) with $866 million in gross gaming revenue and $442 million in tax revenue. 

Pretlow not surprised by handle decrease

  
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