NY sports betting bounces back in August as handle reaches $872.2m

| By Robert Fletcher
New York was able to halt a four-month consecutive decline in online sports betting handle and revenue during August, though the monthly figures were still the second-lowest on record.

Player spending amounted to $872.2m (£747.0m/€861.7m), which was 8.9% higher than $800.8m in July, but some way short of the record $1.67bn posted in January when the state launched its legal market.

August was also the second month in a row during which New York failed to report handle in excess of $1.00bn, with all preceding months having surpassed this figure.

Turning to gross gaming revenue, the monthly total for August was $99.6m, up 35.3% from $73.6m in July.

Flutter Entertainment’s FanDuel retained the top spot in August, with $46.6m in revenue from $374.6m worth of stakes, ahead of DraftKings with $25.9m in revenue from $244.5m in player wagers.

Caesars Sportsbook was next with revenue of $12.7m from $117.6m in total bets, ahead of BetMGM on $8.8m in revenue and a $73.0m handle, then PointsBet with revenue of $2.5m and a $23.8m handle.

Rush Steet Interactive followed with $2.2m in revenue from $26.5m in player bets, ahead of Wynn Interactive with revenue of $492,014 and a $6.7m handle, and Resorts World with $352,785 in revenue off $4.5m in wagers.

Finally, BallyBet experienced its first full month in New York since launching in mid-July as the state’s ninth licensed operator, posting $97,502 in revenue and a $1.0m handle.

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