The New York State Gaming Commission reported $131.3 million in adjusted gross sports betting revenue for February on Friday, as varied operator outcomes from Super Bowl LVIII played havoc with bottom lines.
The revenue total was down 38% from January’s all-time national high of $211.7 million, but still a healthy 21.1% increase from the $108.3 million collected the previous February. The Kansas City Chiefs’ overtime victory over the San Francisco 49ers in Super Bowl LVIII produced mixed results for the nine sports betting apps in the state, highlighted by a $4.8 million loss for BetMGM and a $970,000 loss for Caesars.
The Empire State’s four retail sportsbooks posted a combined loss of $112,000 on $5.8 million handle. After bettors came out $48,100 ahead on $1.6 million worth of Super Bowl wagers when including futures, they added another $63,700 to their bankrolls from the $4.2 million in other action.
Handle was up 20.7% compared to February 2023 and 9.5% lower than January. There was $1.97 billion worth of wagers. The state collected $67 million in taxes, and the $174.9 million reaching Albany coffers in the first two months of 2024 is $43.4 million more than the same period last year.