New York Sees August Sports Betting Handle Increase By Almost 30%

The Empire State enjoyed a profitable August in 2024.

New York State Gaming Commission (NYSGC) has shared the state’s sports betting numbers from August, which were impressive. Bettors wagered $1.43 billion at online sportsbooks during the month. The massive number represents an increase of 29% year-over-year but still represents the lowest monthly total in 2024.

The impressive handle is primarily due to the beginning of the college football season. Over $400 million was wagered in the final week of the month, which was the first week of the season.

The month also included the start of college football and the Olympics. While betting on the games is not as popular as betting on pro sports, it still boosted the state’s August handle. 

The NYSGC reported that the state had $124.9 million in gross gaming revenue, which resulted in $63.7 million in tax revenue.

DraftKings Leads the Way

DraftKings has topped FanDuel for the highest handle this month for the first time since May. The operator had a handle of $526 million for the month, while FanDuel was close behind with $401 million. The two industry giants were followed by BetMGM ($33 million), Caesars ($31 million), Fanatics ($24 million), and BetRivers ($13 million).

While these numbers represent just one month of the year, it is a significant victory for DraftKings. The Massachusetts-based operators recently suffered a public embarrassment when they announced a new surcharge on customer winnings in four markets, including New York. A lack of support from other operators and public outcry led them to cancel the charge just days later.

Their success this month shows that bettors in the Empire State are not holding the surcharge fiasco against the sportsbook. DraftKings saw their draft price tumble as investors feared customers would leave for FanDuel after the surcharge failed, but it appears that isn’t going to be the case.