The New York State Gaming Commission (NYSGC) reported Friday that the total sports betting handle for November – mobile and retail combined- exceeded $1.5 billion. November’s handle was the highest since March, when it hit $1.64 billion, as well as the third-highest month since the mobile industry went live in January. It also marks the ninth month of going over $1 billion in handle.
The state’s mobile Gross Gaming Revenue (GGR) reached a total of $148.2 million. This is the third consecutive month that the state’s sports betting revenue has set a record in returns from online sports betting.
Taxes collected in the state for November made it up to more than $75 million, up $1.7% from a month earlier. New York has a 51% tax rate, tied for the highest in the nation with New Hampshire.
FanDuel led the market with a mobile handle of $646.2 million, while DraftKings saw $498.7 million, and Caesars Sportsbook reached $200.3 million. BetMGM made it to the top five with $111.4 million, and PointsBet saw $40.8 million.
Mobile GGR’s top operator wasFanDuel with $78.2 million, while DraftKings raked in $42.3 million, and Caesars Sportsbook’s numbers rose to $14.9 million. BetMGM won $8 million and PointsBet saw $2.1 million.
New York’s explosive growth of sports betting comes amid calls for more measures to regulate the expanding industry. State Senator Peter Harckham has introduced a bill to enhance regulations, which he says is necessary to curb “predator” promos run by sportsbooks.
Senate Bill S9605, which is currently sitting with the Senate Rules Committee, calls for the New York State Gaming Commission “to promulgate rules and regulations regarding predatory sportsbook bonuses in mobile sports betting, including but not limited to, deposit matching, risk-free betting, free money, free bets, site credits, and profit boosts.”
As of November 2022, state tax revenue exceeded $620 million. For FY 2023, only $6 million is allocated for problem gambling programs — less than 1%. According to the NY Times, across the US last year, states set aside $94 million for problem gambling programs, which is just 0.3% of what’s allocated for substance abuse.
Original article: https://www.yogonet.com/international/news/2022/12/14/65389-new-york-sports-betting-handle-tops-15b-mark-in-november-thirdhighest-total-ever
