New York State posts $2.07bn September sports betting handle
This is the first time state handle has surpassed the $2bn mark this fiscal year.
Key Points
- Last month’s handle rose month-over-month and year-over-year
- September came close to the previously set highest month, which was last November
The New York State Gaming Commission has released its mobile sports betting results for the month of September. State handle blew past the $2bn market for the first time during the fiscal year, which started in April.
The Empire State reported a nearly $2.07bn handle last month, reflecting more than a $200m increase in activity when compared to results from one year ago.
However, September’s results were not enough to beat New York’s highest month for sports betting wagers.
November 2023 remains the top producing month since the market’s opening, according to the commission’s report.
However, the state has generated some strong results during the past 12 months that include September and October, which brought in monthly handles of $1.75bn and $2bn respectively. Both May and June of this year came close to reaching the $2bn milestone as well. July’s gross gaming revenue (GGR) rose by nearly $7m when compared to June’s numbers. GGR statewide climbed to $140m during the month of July.
Good to know: Online sports betting in New York went live two years ago
Platform providers around the state reported a combined total of nearly $100.3m in net revenue during September, almost $20m more than reported last September.
Revenue set aside for education last month totaled nearly $104.4m, reflecting an increase of $20m year-over-year.
To date, more than 35 states have embraced regulated sports betting since the US Supreme Court overturned the Professional and Amateur Sports Protection Act of 1992 (PASPA) in May 2018, also known as the Bradley Act.
In other state news, the New York State Gaming Commission recently kicked off a TV and radio ad campaign called “A Chance to Dream.”
Through its partnership with creative agency McCann New York, the commission has launched two TV spots and two radio spots that range from 15 to 30 seconds. The commercials are available in both Spanish and in English.
The ad’s premise is a reminder to New Yorkers that each dollar they spend on state lottery games goes to benefit the Empire State’s public schools.
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