New York September gambling data: online sports betting handle up 41% as land-based revenue dips

New York's gambling market stayed stable in September, according to data from the New York State Gaming Commission. Online sports wagering grew strongly, while land-based gaming revenue eased from the previous month.

Land-based gross gaming revenue reached $184 million in September, a 7% decline from the $199 million recorded in August. Net revenue fell from $118.9 million to $109.5 million. Slots, table games and poker all followed that downward pattern. Retail sports wagering was the exception: handle climbed to $4.4 million from $2 million in August, and gross gaming revenue from it hit a yearly high of $641,500. That growth was not enough to offset declines elsewhere.

Online sports betting also showed a sharp rise. Handle came to $2.4 billion, up 41% from $1.7 billion in the earlier comparison month cited by the source. Gross gaming revenue was $159 million, held back because favorable results for bettors reduced operator profitability. Net revenue to platform providers fell 4.9% from August to $78 million. September's online handle even exceeded the figures for June and July, which had been boosted by World Cup betting activity. Whether the trend continues through the rest of the year remains uncertain.

The figures arrive amid debate over whether prediction markets threaten licensed sportsbooks. Citizens analyst Jordan Bender has argued that the two can coexist, noting that heavy marketing spending by prediction platforms may be introducing new people to sports betting. Despite the growth of prediction markets, major sportsbooks appear to be keeping their customer bases.

New York officials continue to oppose prediction platforms. In February, the state attorney general warned that these services operate outside local regulation and lack the safeguards required of licensed sportsbooks. The state has also recently taken legal action against the prediction platforms Coinbase Financial Markets and Gemini Titan.