NY Doubles Up On PA-NJ-CT in Handle for Third Time in 2022

May was the worst month for handle so far this year for Connecticut and Pennsylvania, but operators in New Jersey handled more wagers than they did in April.
Panoramic view of Yankee Stadium. NY Doubles Up On PA-NJ-CT in Handle for Third Time in 2022. May was the worst month for handle so far this year for Connecticut and Pennsylvania, but operators in New Jersey handled more wagers than they did in April.
By
June 30, 2022

For the third time, New York has doubled up on its three smaller neighbors regarding the handle from online sports betting. May’s handle in the Empire State and two of its three rivals — Connecticut, New Jersey, and Pennsylvania — hit their lowest monthly totals of 2022, according to data from regulators in all four states.

May also saw New York expand its lead in handle over the three other states to the second-largest margin in its favor, $15.3 million.

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Handle Down In All States, Except New Jersey

The handle was down month-over-month in Connecticut, New York, and Pennsylvania, but New Jersey bucked its rivals and saw an increase. The decline is not indicative of a market problem but reflects a quieter sports season.

In New York, handle hit $1.3 billion in May, down 9.2% from April ($1.4 billion), data from the New York State Gaming Commission (NYSGC) show. May was the worst month for handle in the Empire State and is down 24.3% from the record set in January when the market opened ($1.7 billion).

May was also the worst month of 2022 in terms of handle for Connecticut and Pennsylvania. Handle in Connecticut slipped 1.5% to $107.8 million, according to the Connecticut Department of Consumer Protection (CDCP). Meanwhile, Pennsylvania’s handle was off 14.6% from April and fell to $457.9 million, a record low for 2022, data from the Pennsylvania Gaming Control Board (PGCB) show.

Connecticut’s previous low for handle in 2022 was set in February ($108.8 million), while its best month was January ($149.3 million). Pennsylvania’s high for the year also came in January ($737.4 million).

New Jersey had a better month than its rivals. According to the New Jersey Department of Gaming Enforcement (NJDGE), handle in the Garden State grew to $58.4 million in May, a 26% increase from April ($46.3 million). So far, May was the third-best month for handle this year, trailing only March ($61.2 million) and January ($58.8 million).

The total handle in May between the four states was $1.9 billion, down 9.4% month-to-month.

Combined Handle From CT-NJ-PA Hits New Low for 2022

The combined handle from Connecticut, New Jersey, and Pennsylvania continued to trend downward and fell to $624.1 million in May, a 9.5% decline from April ($691.9 million). The trio peaked at $945.6 million in January.

New York has dominated handle so far in 2022, with Pennsylvania a distant second and Connecticut third, just ahead of New Jersey. The states have followed that order the entire year.

The total handle from all four states was $1.9 billion in May, down 9.4% from April ($2.1 billion). The best month of the year for the foursome was January, when their combined handle stood at $2.6 billion — May was off 27.9% from that peak. To date, handle has totaled $11.3 billion in 2022.

New York has doubled its rivals in handle three times in 2022 — in February, April, and May. The Empire State was $639.4 million ahead of the others in May, down from $698.9 million in April and a peak gap of $828.4 million in February.

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