New York sports betting revenue up 38% year-over-year for May
May is now the second-most successful month of 2023 in terms of gross gaming revenue in New York.
The New York State Gaming Commission has released its sports betting figures for May 2023. The report was compiled based on data provided by sportsbooks.
In May 2023, mobile sports wagering handle reached $1.35bn, a 7% increase from the reported figures for May 2022.
In terms of gross gaming revenue, it was the second-most successful month of the year, as indicated in the chart below. Overall gross gaming revenue for May 2023 reached $151.9m, a 38% rise year-over-year.
This is eclipsed only by March 2023 gross revenue figures of $162.8m, with March being a hugely popular month in the sports betting calendar thanks to March Madness.
The increase continued in all departments, with net revenue to platform providers rising 9.5% year-on-year to $74.4m. Additionally, net revenue to education rose 38% year-on-year to $77.5m.
Some of the revenue is donated to various causes; $6m of net revenue to education will be distributed for problem gambling education and treatment purposes, while $5m of new revenue will be distributed for youth sports activities and education grant programs.
FanDuel again reported the highest numbers for May 2023, reporting $76m in gross gaming revenue. The second-highest gross revenue was DraftKings with revenue of $48m, followed by Caesars Sportsbook with $14m.
Handle overall was down month-on-month, although revenue was up on April.
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