Although July’s $1.88 billion handle represented a decrease from June’s record-setting level, it remained significantly above previous July totals. New York applies a 51% tax rate to mobile sports betting revenue, one of the highest rates in the country. A 13.2% hold rate generated $86.1 million in gross gaming revenue, more than doubling the company’s June total. BetMGM reported $138.3 million in wagers and posted an 11.3% hold rate, resulting in $15.6 million in revenue. Even though total wagers declined from June’s historic handle, the improved hold rate allowed sportsbooks to generate substantially higher revenue.