New York Sports Betting Revenue Plunges by 40.9% in November

  • Four commercial sportsbooks generated $1.3m in November compared to $2.2m in October
  • The leading sportsbook was the Rivers Casino and Resort, which is powered by Kambi
  • Earnings from the three tribal sportsbooks in the state are not reflected in these figures
  • Attempts to legalize mobile sports betting will begin again in 2020
The Statue of Liberty
According to the latest New York State Gaming Commission report, the state’s four commercial sportsbooks generated gross gaming revenue of just $1.3m during November. [Image: Shutterstock.com]

Significant slip

The four commercial sportsbooks currently operating in the New York market experienced a 40.9% drop in revenue during November.

The sportsbooks generated a total gross gaming revenue of just $1.3m for the month. This was the lowest monthly revenue period since sports betting was rolled out in the state back in July.

Since sports betting kicked off in New York on July 16, there has been more than $6m in revenue generated by the four sportsbooks.

lowest monthly revenue period since sports betting was rolled out in the state

The record monthly revenue figure to date was hit in September at $2.3m. This was largely due to the start of the professional and college football seasons, which are always lucrative for sportsbooks. In October, the gross gaming revenue figure was just below the monthly record at $2.2m.

Best performing sportsbooks

The leading sportsbook in New York for November in terms of revenue was the Kambi-powered Rivers Casino’s Rush Street Gaming Sportsbook in Schenectady. It generated $549,230 in revenue during November. This was a 45.1% decline compared to the $1m generated during October.

Next on the list is Resorts World Catskills in Monticello, which is operated by Betgenius and International Game Technology (IGT). This sportsbook reported a 7.7% drop in revenue in November with $467,356.

The DraftKings sportsbook at the del Lago Resort and Casino in Waterloo saw its monthly revenue slip by 59.8%, closing at the $230,092 mark. 

Finally, the New York sportsbook with the lowest revenue for the month was the Tioga Downs Casino, which is powered by FanDuel. It saw a monthly revenue drop of 59.7%, with just $61,618 in gross gaming revenue. 

While the sports betting revenues were down significantly in November, the total gaming revenue for the four casinos was up slightly. Total gaming revenues increased from $51.4m in October to $51.6m in November. 

Tribal casinos not included

The above revenue figures do not include the three tribal sportsbooks operating in New York. The Oneida Nation tribe has a number of properties with sportsbooks across the state. These sportsbooks are under the operation of Scientific Games. 

The Akwesasne Mohawk Casino Resort in New York launched its own sportsbook powered by IGT last week. 

Legal mobile sports betting

For a long time, calls have been made for legal mobile sports betting in New York. Neighbors New Jersey have reported that up to 85% of all sports bets in a given month are placed via mobile sportsbooks. Many New York residents cross the border into New Jersey to place bets on a regular basis with their mobile devices.

New York residents cross the border into New Jersey to place bets on a regular basis

This is a convenience factor, as the casino facilities in New York with sportsbooks are a bit out of the way for a large chunk of the state’s population. If New York was to legalize mobile sports betting, it would reclaim large chunks of money leaving the state and going into the coffers of New Jersey sportsbooks. 

For now, mobile sports betting is on hold. The issue is set to be a hot topic during the first legislative session of 2020.