New York Sports Betting Revenue, Handle and Taxes
New York Gambling Data
New York Sports Betting Data
| Month | Handle | Handle Per Capita | Revenue | Hold | Taxes |
| December 2023 | $2,053,736,710 | $152 | $189,287,146 | 9.2% | $96,131,764 |
| November 2023 | $2,122,331,713 | $157 | $151,291,345 | 7.1% | $76,999,480 |
| October 2023 | $2,017,133,484 | $149 | $167,327,704 | 8.3% | $84,927,344 |
| September 2023 | $1,767,913,849 | $131 | $166,834,226 | 9.4% | $84,563,885 |
| August 2023 | $1,118,163,959 | $83 | $99,241,793 | 8.9% | $50,310,977 |
| July 2023 | $966,555,215 | $72 | $105,510,883 | 10.9% | $53,655,339 |
| June 2023 | $1,166,390,859 | $86 | $103,827,784 | 8.9% | $52,952,170 |
| May 2023 | $1,363,794,316 | $101 | $152,643,135 | 11.2% | $77,571,580 |
| April 2023 | $1,550,014,914 | $115 | $139,265,045 | 9% | $70,842,936 |
| March 2023 | $1,792,885,345 | $133 | $163,582,116 | 9.1% | $83,117,519 |
New York Sports Betting Revenue
New York sports betting essentially had two launches. In-person sports betting became legal in the summer of 2019, whereas online and mobile sports betting launched in January of 2022.
Looking at the launch of mobile sports betting, New York sports betting revenue started strong at $64.8 million in January of 2022. By March of 2022, New York sports betting revenue had reached $93.3 million. Just a month later, New York sports betting revenue had eclipsed $100 million starting in April of 2022. The only dip in revenue came during the summer of 2022 in June and July. Since then, New York sports betting revenue has been over $100 million for 11 straight months. The most recent revenue was recorded at $103.9 million in June of 2023.
New York Sports Betting Taxes
The New York sports betting tax rate is a massive 51%. A bill has been introduced to lower this number based on how many sportsbooks operate in the state. The bill proposes that if there are 14 or more operators, the New York sports betting tax rate would lower to 35%. Furthermore, if there are 15 or more operators the tax rate would further decrease to 25%. In terms of how these taxes are used, the New York sports betting taxes currently go to education.
New York Sports Betting Handle
Sports betting handle is the amount of money that is bet over a specific time period. Of all the states that offer sports betting, New York sports betting handle is easily number one on the list. In January of 2022 (when mobile sports betting became legal), New York sports betting exceeded $1 billion and never looked back. Just twice has New York sports betting handle not been at least $1 billion – in July and August of 2022, when the handle was still more than $800 million. Since those two months, New York sports betting handle has been more than $1 billion for 10 consecutive months. The highest New York sports betting revenue recorded was in both January of 2023 and March of 2023 at $1.7 billion. The most recent of these numbers was in June of 2023, when New York sports betting was $1.1 billion.
With college football and the NFL starting soon, it is likely that the New York sports betting handle could increase significantly throughout the remainder of the year.
New York Sports Betting Handle Per Capita
Sports betting handle per capita is the average amount of money a sports bettor is placing over a specific time period. For having some of the highest handle and revenue, it is surprising that New York’s handle per capita is not that high. Since January of 2022, the sports betting handle for New York has topped out at $133.21 in January of 2022. The lowest handle per capita for New York was in July of 2022 at $59.60.
Part of the reason for this is that New York has a higher population than many of the other states that legalize sports betting. A recent census recorded more than 13 million people in New York over the age of 21, the age you must be to legally bet on sports. With more eligible bettors in the state, it makes sense that New York would have more bets made overall but not necessarily a higher amount that each person is betting.
New York Sports Betting Hold
Sports betting hold is the percentage of money retained by the sportsbook from a given bet. This can change drastically depending on the type of wager or betting market. Sports betting hold is also commonly known as the “juice,” or the tax that a sports bettor pays to place a bet.
New York sports betting hold has generally been pretty high since launching in January of 2022. For the first three months (January, February and March of 2022), the New York sports betting hold ranged from 5.2% to 6.8%. Since April of 2022, the New York sports betting hold has surpassed 6.9% for 15 consecutive months. The highest New York sports betting hold was recorded at 11.5% in August and September of 2022. The most recent New York sports betting hold was 8.9% in June of 2023.
FAQs
Yes, the current New York sports betting tax rate is a massive 51%.
The New York sports betting handle for 2023 so far (through June of 2023) is a total of $9.1 billion. This is an average of $1.5 billion through the first six months of the year – and football has not even started yet!