New York Sportsbetting Handle Hits $1.7 Billion in February

Online sportsbetting continues to be popular in the state of New York, as gamblers bet $1.77 billion on the activity online in February, with sportsbooks generating $131.4 million in revenue.

That handle number was up 20.4% from last year, but down 9.7% from the month prior and was the lowest handle reported since September of last year. Revenues were also up 21.3% from last year, but down 37.9% from the $211.5 million reported in January.

The top-performing book in the Empire State was FanDuel, which had $63.4 million in revenue on $720.1 million in handle. DraftKings was second with $53.4 million in revenue on $607.9 million in handle. Caesars rounded out the top three, with $6.7 million in revenue on $160.7 million in bets.

For the fiscal year-to-date, handle in New York is $17.8 billion, up 8.6% from last year. Revenues for the year to date are up 10.5% to $1.61 billion.

News of the financials comes as a study called The Quarterly Survey of State and Local Tax Revenue found that the state contributes the highest amount for tax revenues from sportsbetting. The report cited $188.5 million paid, which was five-times higher than the next highest-payer Indiana, which has paid $38.6 million.