July was a busy month for licensed mobile sports betting operators in New York, data from the state's gambling regulator, the New York State Gaming Commission, reveals.
Judging by the Commission's recent reports from sports betting operators, a notable increase in the mobile betting handle, as well as mobile betting gross gaming revenue (GGR) was observed last month.
Mobile betting handle and GGR record strong growth year-over-year in July
Currently, New York is one of the largest sports betting markets in North America.
Data from the American Gaming Association estimates that the betting handle of the sector is nearly $23bn, while taxes from sports betting generate more than $1bn.
According to recently released data from the state's gambling watchdog, the total mobile betting handle last month hit $1.40bn.
Further details reveal that the mobile betting GGR in July was $155.6m.
Both figures, compared to the corresponding period in 2024, show a solid increase considering that back then, the mobile betting handle halted at $1.26bn, while mobile wagering GGR was at $140.3m.
Considering the increase in betting handle and GGR, it's no surprise that the net revenue to platform providers and education also recorded an uptick during the last month.
In total, licensed operators collected $76.2m in net revenue in July, while the proceeds to education were $79.3m. That's because of the 51% tax on mobile betting revenue, applicable to licensed operators in the state.
A year-over-year comparison reveals that the net revenue collected by licensed mobile sports betting operators in July increased by more than 10.8% this year.
New York recorded a similar increase in the proceeds to education for last month, considering that in July 2024, the net revenue for education halted at $71.6m.
It's worth noting that at the time of writing, the New York State Gaming Commission had not released financial data for Resorts World BET from last month.
DraftKings claims the highest mobile betting handle, FanDuel posts the highest betting GGR
In July, DraftKings recorded the highest mobile sports wagering handle of $509.4m, posted mobile betting GGR of $52.5m and net revenue of $25.7m.
FanDuel, another leading betting and gaming company, followed closely its main rival, reporting $476.9m in mobile wagering handle and $61.4m in betting GGR during July.
With that in mind, the operator's net revenue during last month was higher than the one reported by DraftKings, hitting $30.1m.
The leading betting and gaming company with a strong presence across the country, Fanatics, reported the third-highest mobile betting handle in July.
The company posted $137.7m in betting handle and $13.9m in mobile sports betting GGR, while its net revenue was $6.8m.
