New York State Gaming Commission reports September gambling revenue figures

Land-based gambling in New York generated $184m in gross gaming revenue in September, a 7% decrease from $199m in August, according to data from the New York State Gaming Commission. Net revenue for the sector was $109.5m, down from $118.9m the previous month.

Retail sports wagering handle rose to $4.4m from $2m in August, and retail sports wagering gross gaming revenue reached $641,500, which the commission data showed as an all-year high. Online sports wagering handle was $2.4bn, up 41% from $1.7bn in September a year earlier. Monthly online gross gaming revenue was $159m, and net revenue to platform providers fell 4.9% from August to $78m.

September's online sports wagering handle exceeded the figures for June and July, months that included betting activity during the World Cup, according to the data.

Citizens analyst Jordan Bender argued in a recent report that prediction markets can operate alongside regulated sportsbooks, noting that marketing spending by prediction platforms may introduce more people to sports betting. State officials have taken a different position: in February the state's attorney general warned that prediction platforms operated outside local regulations and lacked the safety measures required of licensed sportsbooks, and the state recently took legal action against Coinbase Financial Markets and Gemini Titan.