New York sports betting handle slides below $1.0bn in July

Finance News

New York online sports betting continues its weekly handle total dip, reporting the lowest amount ever bet since the state’s online sports betting program launched.

The New York State Gaming Commission reported just $149,716,522 in online sports bets for the week ending July 24, its lowest weekly total ever. It declined by nearly $34 million from the week of July 17, which had been the previous low.

It’s the fifth consecutive week online sports betting handle has declined in the state.

However, the state did see a rebound in its gross gaming revenue figures, reporting $12.3 million for the week, an increase of more than $6 million from the week of July 17.

Despite the low handle totals, late summer is historically a low point in the sports betting landscape. Expect the numbers in the state to skyrocket when college football and the NFL kicks off their seasons.

From Jan. 8 to July 24, the total gross gaming revenues in New York have been reported at $658,444,577, a total of more than $335.8 million in taxes for the state.