Published: July 9, 2024

New York Sportsbooks Exceed $4 Billion In Total Revenue

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.

When then-Gov. Andrew Cuomo made his push to legalize mobile sports betting in the state, he projected $500 million in tax revenue for a fiscal year. Current Gov. Kathy Hochul projected $860 million in receipts from digital wagering for Fiscal Year 2025, and the state has collected $265.7 million in the first three months.


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