New York State reports $2.32bn sports wagering handle for October
This is the largest monthly handle posted since the market opened.
Key Points
- Last month’s handle surpassed the previous high set last November
- October’s handle reflected both month-over-month and year-over-year growth
The New York State Gaming Commission has published its mobile sports betting results for the month of October. Last month, the Empire State set a new high for its sports wagering handle, which reached $2.32bn.
Though reaching the $2bn high water mark is not a first-time feat for the state, the surge in activity when compared to last October’s handle was enough to beat out the record high previously set last November.
The state handle last month blew past what New York players bet during September by nearly $250m and surpassed what the state reported last October by more than $300m.
Last month’s GGR increased by close to $10m year-over-year. However, the Empire State’s gross gaming revenue (GGR) for the month was significantly lower than results posted in September.
October’s GGR reached $176.4m, falling short of September’s revenue total by more than $25m.
Good to know: Online sports betting in New York went live more than two years ago
Handle
Gross Gaming Revenue (GGR)
Platform Provider Revenue
Funds for Education
Platform providers around the state reported a combined total of nearly $86.4m in net revenue during October, almost $14m less than reported during September but close to $5m more than net revenue posted a year ago.
Revenue set aside for education last month totaled nearly $90m, reflecting an increase of close to $5m year-over-year.
To date, 38 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.
Voters in Missouri said yes to a legal sports wagering market during this week’s election, bringing the state one step closer to becoming the 39th state to welcome this market.
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