NY mobile sportsbooks report $1.05bn in betting handle for June

In June, licensed mobile sportsbook operators in New York reported $1.05bn in betting handle. This was the sixth month in a row with betting handle surpassing $1 billion, according to figures released by the New York Gaming Commission.

Although the market remains strong, when compared to May, both sports wagering handle and mobile sports wagering gross gaming revenue (GGR) decreased in June. Last month, mobile GGR was $72.4m, down 34% when compared to the $109.8m in GGR from May. Similarly, the betting handle decreased by 16.8% last month, when compared to the result from May which was $1.26bn.

It was back in January when New York launched its mobile sports wagering market. Now, June marks the lowest recorded betting handle and GGR for mobile sportsbooks in the state since the launch of the activity.

Further comparison shows that for the first three months, the mobile betting handle and mobile sports wagering GGR were $4.84bn and $320.8m respectively. The same figures decrease significantly between April and June, considering that mobile sports wagering handle for the period was $3.71bn, while GGR halted at $286.4m.

One of the prime reasons for the decline in GGR and betting handle is the absence of major sports events. In contrast, during the first three months of the year, the sports calendar was packed, which helped boost the sportsbooks' results.

With a mobile betting handle of $472.9m last month, FanDuel was an unquestionable leader in New York. The sportsbook's GGR last month was $39.6m, meaning that the company collected $19.4m in net revenue. Based on those results, FanDuel dominated the market in New York 55% market share. Still, when compared to May, FanDuel's results decreased. In May this year, the company reported $552.6m in betting handle and $31.3m in net revenue.

The second-most popular sportsbook last month was DraftKings. Overall, the company reported $270.2m in betting handle last month, which brought it $8.1m in net revenue.

Caesars Sportsbook did not fall much behind with $156.4m in betting handle last month. Considering its $6.3m in GGR, the company's New York-facing mobile operations brought it $3.1m in net revenue last month. Back in January, upon the market launch, Caesars reported the highest betting handle of $627.4m. However, since then, the sportsbook's betting handle has been gradually decreasing with each month.

Last month, BetMGM reported $92.4m in betting handle, while Rush Street Interactive reported $25.3m in betting handle. This brought $3.1m and $881,667 in net revenue to BetMGM and Rush Street Interactive respectively.

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