NY online sports betting handle drops below $1.0bn for first time in July

| By Robert Fletcher
New York’s online sports betting handle fell to an all-time low in July, falling below $1.00bn (£827.6m/€982.4m) for the first time since the US state opened its regulated market in January this year.

Players spent a total of $800.8m wagering on sports during the month, down 23.8% from $1.05bn in June, which was incidentally also the state’s previous lowest monthly amount.

Gross gaming revenue from mobile sports betting climbed marginally by 1.2% from $72.4m to $73.3m, making July the second-lowest month for revenue on record.

In terms of individual operators, Flutter Entertainment’s FanDuel Group retained top spot, posting $39.0m in revenue from $347.7m in players bets for the month.

DraftKings followed in second with $15.8m in revenue from a $213.5m handle, the Caesars Sportsbook with $8.7m and a $118.2m handle.

BetMGM generated $6.3m in revenue and processed $73.2m in total wagers during July, while PointsBet posted $1.7m in revenue and a $16.5m handle. Rush Steet Interactive was next with $1.2m in revenue off $20.3m in total player wagers.

Wynn Interactive reported $431,990 in revenue and a $6.0m handle, while Resorts World followed with $262,309 in revenue from $4.7m in wagers. Ballybet, which went live in New York in July as the state’s ninth licensed operator, rounded off the list with revenue of $40,080 and a $640,397 handle.

Ballybet also supported its roll out in New York by entering into a marketing partnership with Major League Baseball franchise the New York Yankees.

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