The month of February was another lucrative month for online sports betting in the state of New York with an estimated handle over $1.5 billion.
The latest numbers released in New York earlier this week included only the first 27 days of February. The handle for these days was $1.491 billion. That averages out to around $55.2 million per day, so when the final day of the month is eventually added in it is expected the total handle for the month will easily exceed $1.5 billion.
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A $1.5 billion handle would mean a $41 million tax haul for the state. That would bump the 2022 tax bill over $100 million, following a collection of $63.2 million in January.
February’s handle was down slightly from the $1.686 billion that was bet in January, but that was to be expected following the end of the NFL season. That decline is expected to be a short one with the NCAA Basketball Tournament hitting the court in March.
The leader in mobile handle in February was FanDuel Sportsbook with $553,597,699. Despite leading in handle FanDuel was not the leader in revenue after only posting a four percent hold for just over $22 million in revenue.
DraftKings Sportsbook may have trailed FanDuel with $379,663,640 in handle, but thanks to their 7.7 percent hold they posted a higher $29.3 million in revenue.
Rounding out the Top 3 from the seven active mobile sportsbooks in February was Caesars Sportsbook with a handle of $316,545,716. They reported a 6.2 percent hold and $19.7 million in revenue.
The split will look a little different in the March reported after the number of mobile sportsbooks in New York grew to eight late last week. The eighth mobile sportsbook to launch in New York was Resorts WorldBET. That leaves Bally Bet as the only licensed mobile sportsbook in New York yet to launch.
