- New York bettors wagered $2.4 billion in September, the most for any September in state history.
- Sportsbooks held just 6.6%, the lowest September hold on record, cutting revenue 17.7% to $159.4 million.
- The Giants and Jets went a combined 4-1-1 against the spread, and both beat Tennessee.
NEW YORK – Months after the Knicks won their first NBA title since 1973, New York took the sportsbooks for another ride in September.
The New York State Gaming Commission’s September report shows mobile sportsbooks took $2.4 billion in bets, up 5% from last year and the best September in state history. But sportsbooks held just 6.6% of those bets, cutting gross gaming revenue 17.7% to $159.4 million.
New York sports betting is taxed at 51%, so the dip hit education funding directly. Schools received $81.3 million in September, down $17.5 million from a year ago.
| September | Handle | Hold |
|---|---|---|
| 2022 | $1.26 billion | 11.4% |
| 2023 | $1.76 billion | 9.4% |
| 2024 | $2.07 billion | 9.9% |
| 2025 | $2.29 billion | 8.5% |
| 2026 | $2.40 billion | 6.6% |
Hometown Covers
Hometown bettors had plenty to cheer about. The Giants opened the season by upsetting Dallas 28-20 as 3-point underdogs (+142), then beat Tennessee 12-7 as 2.5-point favorites to finish September 2-1 against the spread.
The Jets were even better at the window. After beating Tennessee 23-10 as 1.5-point underdogs in Week 1, they covered as 3.5-point underdogs in a 20-17 loss to Green Bay and pushed as 7-point underdogs in a 31-24 loss to Detroit.
That’s a combined 4-1-1 against the spread for New York’s two NFL teams, while four of their six games went under the total.
It’s the second time this year bettors have fared well against legal sportsbooks. June, the month the Knicks clinched the title, finished with a 5.2% hold, the lowest in state history. New York reports revenue on a cash basis, so futures are counted when placed and winning tickets when they’re paid, meaning Knicks title bets made months earlier were cashed that month.
Over the last two reports, New York has crossed $100 billion in lifetime handle, sitting at $103.8 billion.
