{"id":1583532,"date":"2024-06-10T09:49:16","date_gmt":"2024-06-10T13:49:16","guid":{"rendered":"https:\/\/sports7.us\/?p=1583532"},"modified":"2024-06-10T09:50:52","modified_gmt":"2024-06-10T13:50:52","slug":"new-york-sports-betting-revenue-in-may-surpasses-200m","status":"publish","type":"post","link":"https:\/\/sports7.us\/news\/new-york-sports-betting-revenue-in-may-surpasses-200m\/","title":{"rendered":"New York Sports Betting Revenue In May Surpasses $200M"},"content":{"rendered":"
The New York State Gaming Commission reported $203.3 million in sports betting revenue for the month of May, the second-highest total since online wagering went live in January 2022. Revenue in May came within $8.2 million of this January's all-time mark.<\/p>\n
New York operators saw a 33.8% increase in revenue compared to May 2023. It was also up 10.6% from April as the sportsbooks\u2019 hold reached 10.3% on the $1.97 billion handle.<\/p>\n
The Empire State has a 0.5% increase in wagers month-over-month. However, it is still up 46% year-over-year and constitutes the third handle of more than $1.9 billion in 2024.<\/p>\n
New York's 51% tax rate filled the coffers with a staggering $103.7 million, up $10 million from April. The state's professional sports teams helped facilitate these profits.<\/p>\n
The NBA's Knicks remained in the playoffs until May 19 and the NHL's Rangers reached the Eastern Conference Finals, which ended June 1. The Yankees also performed well in the MLB, finishing 21-7 in May.<\/p>\n
New York's nine licensed operators \u2014 Bally Bet, BetMGM, BetRivers, Caesars Sportsbook, DraftKings, Fanatics, FanDuel, Resorts World Bet, and WynnBET \u2014 finished the last week of May with a combined $23.2 million in revenue.<\/p>\n