New York and Iowa have released their sports betting revenue reports for April 2023, and the numbers have dropped sharply. New York registered $138.8 million in total gross gaming revenue, a 33.3% increase from $104.1 million in April last year. However, that's a 14.7% drop to $162.8 million in March 2023.
Bettors in The Empire State spent $1.54 billion in bets on regulated operators compared to the $1.39 billion they spent in April last year. But despite the increase, there was a 14.7% month-to-month drop, with bettors wagering $1.79 billion in March.
Other regulated betting sites with six-figure revenue reports include Rush Street Interactive, with a $49.1 million handle and $803,291 in revenue, and Wynn Interactive, which posted $9.8 million in wagers and $465,081 in profits. Interestingly, PointsBet collected $20.7 million in wagers and $1.7 million in revenues.
BallyBet and Resorts World completed the market report with $2.3 million and $7.9 million handles, respectively. Note that these are the only bookmakers in the state with five-figure revenue numbers of $28,731 and $71,358.
Iowa recorded a 13.7% yearly revenue increase from $12.2 million to $14.1 million, despite a decline of 29.2% in March, where the state registered $19.9 million in GGR (Gross Gaming Revenue). Of last month's total, online betting sites contributed $13.4 million, a clear difference from the $675,249 accounted from retail betting venues.
As it is in NY, FanDuel, which partners with Diamond Jo In Dubuque, maintains a leading position in sports betting, with $42.6 million in bets and $5.0 million in revenues. The report further notes that FanDuel paid out $37.5 million in winnings during the month.
Other bookies in The Hawkeye State include:
Bettors in Iowa spent $172.6 million in bets during the month, marking a 2.7% decrease compared to April 2022. That's also a 25.8% drop compared to March this year. The total tax collected in Iowa was $908,605, with bettors winning $158.5 million.
