- New York pulled in Thanks $603 million in handle during the launch of mobile sports gambling.
- The state saw $48.2 million in revenue in just nine days.
- January is on pace to be the most successful month in United States history in New York.
NEW YORK - The state of New York is already seeing record-breaking numbers from online gambling.
Record Numbers In Nine Day Span
Most people knew the launch of mobile sports betting in New York was going to be a huge success. However, there are likely many who didn’t see this much success coming so quickly into the launch. Online gambling sites in New York are pulling in record-breaking numbers in the first month of legality.
The nine-day span from January 8 to January 16 garnered $603 million in bets in the state of New York. It translated to $48.2 million in gross revenue and due to the 51% tax rate resulted in $24.6 million in tax income.
The $603 million breaks down into an average of $67 million per day in handle. New Jersey holds the record for handle in a month with $1.3 billion which is only $41.9 million per day. Among the sportsbooks, a trio dominated the market.
New York State Sportsbooks Handle From Jan. 8 - Jan. 16
- Caesar’s $257.7M
- FanDuel $200.4M
- DraftKings $134.4M
- BetRivers $10.6M
Plus, Caesar’s allegedly had some technical issues on launch that potentially held back their numbers a little.
Optimism For The Future
While New York seems to be in a league of their own at the moment, there is always concern that the numbers are inflated due to initial excitement over the legalization and sign up bonuses, but the upcoming Conference Championship games and Super Bowl matchup should result in some insane numbers from the mobile sportsbooks.
New York online sports betting took in $603 million in handle in 8 days, generating $48 in revenue and $24.6 million in taxes. The all-time single-month records for New Jersey, the (former) largest market, are $1.3 billion handle, $115 million revenue and $14.6 million taxes.
— Ryan Butler (@ButlerBets) January 21, 2022
Fortunately for New York, they can afford their numbers to go down and still potentially be the No. 1 state in online gambling.