New York became the first state to have its sportsbooks surpass $4 billion in revenue in the post-PASPA era Monday after the New York State Gaming Commission reported $134.2 million in operator winnings for June.

The Empire State beat neighboring New Jersey to the benchmark despite trailing by $4.84 billion in handle. New York sportsbooks, which have accepted $46.87 billion worth of wagers, have an all-time hold of 8.8% while their Garden State counterparts have a 7.5% win rate.

June’s revenue total was up 29.1% from last year while the $1.48 billion handle was up 26.2%. The 9.1% hold was up two-tenths of a percentage point as the state reaped $68.3 million in taxes. Operator winnings were down 34.2% from May, while handle slacked by 25.3%.

New York also crossed $1 billion in sports betting revenue for the calendar year, and the 51% tax rate on mobile operators helped push that total over $500 million for 2024 to $517.1 million.

When then-Gov. Andrew Cuomo made his push to legalize mobile sports betting in the state, he projected $500 million in tax revenue for a fiscal year. Current Gov. Kathy Hochul projected $860 million in receipts from digital wagering for Fiscal Year 2025, and the state has collected $265.7 million in the first three months.

1 NEW YORK $11.03B
2 New Jersey $6.01B
3 Illinois $4.72B
4 Ohio $3.58B
5 Penn. $3.56B
6 Nevada $3.36B
7 Mass. $3.04B
8 Virginia $2.9B
9 Ariz. $2.76B
10 Colorado $2.68B#SportsBettingX #GamblingX

— Chris Altruda (@AlTruda73) July 8, 2024

After feeling DraftKings nip at its heels in May, FanDuel did well to put some daylight between itself and its eternal rival in June. FanDuel accounted for more than half the state’s $133.9 million in mobile revenue, claiming $67.1 million of that amount on the strength of an 11.7% hold from $571.2 million in handle. It was the first time FanDuel accounted for over 50% of the mobile winnings since attaining a 51.6% share in January.

FanDuel did fall just shy of $1 billion in tax payments to the state with June’s official numbers as the $34.2 million remitted put its total bill at just over $998 million since mobile sports betting launched in January 2022. While the weekly totals amount to more than $1 billion, monthly totals are based on when operators make their payments to the state.

DraftKings, which crested 40% for both revenue and handle market share in May, receded some in June. Its 7.8% percent hold was 2.5 points lower than May as it collected $40.9 million in revenue from $521.6 million worth of bets placed. DraftKings’ 30.5% share of the mobile revenue was its lowest since claiming 26.6% in January 2023.

Caesars took the final podium spots for both revenue and handle, fashioning a 6.7% hold in winning $8.6 million of the $127.7 million in wagers accepted. Caesars has failed to attain a 9% market share for handle each of the last three months after reaching 10.3% in March.

BetMGM barely held off Fanatics Sportsbook for the No. 4 revenue spot as the pair were separated by $156,300. Fanatics landed a 9.9% win rate for June in winning $6.7 million of the $67.3 million wagered through its sports betting app, while BetMGM edged over $6.8 million thanks to a 6.8% hold against $100.6 million in handle.

Fanatics also nearly pipped BetRivers for fifth in handle, coming within $1.6 million. BetRivers had its second-highest market share of handle at 4.7% with its $68.8 million worth of accepted bets, but it failed to capitalize on the increased action — its 3.7% hold was the lowest of the nine mobile books as it claimed just over $2.5 million in winnings.

Bally Bet was able to slot seventh for revenue with $658,300 on the strength of a 9.6% hold against $6.9 million in handle, while Resorts World had a 7.8% win rate to reap $572,900 from $7.4 million wagered.

WynnBET managed to edge over $1 million in year-to-date winnings after collecting $66,700 in June. It had a 4.4% hold against $1.5 million.

WynnBET, which agreed to sell its New York mobile license to PENN Entertainment for $25 million in February as Empire State bettors await the arrival of ESPN BET, has a total handle of $25.4 million in 2024 — $886,700 more than FanDuel’s daily average of $24.5 million.

The state’s four commercial retail sportsbooks combined for $238,700 in winnings while fashioning a 5% hold against $4.8 million in handle. Bettors came out with a small win against Resorts World, coming out $2,370 ahead from $478,475 wagered.

Retail revenue has plummeted 30% compared to the first six months of 2023, with the 5% year-to-date hold 1.7 percentage points lower. The $37.3 million in handle is down 6.1%.