New Yorkers wagered almost $2 billion in sports during the first 30 days of legalized mobile betting, according to data compiled by the state Gaming Commission. The figures set a new record, with New York now being the state that has posted the highest handle for a 30 day period and, most notably, just in its first 30 days since launch.
“Over the past month, we’ve seen how mobile sports wagering can be an economic engine for New York, driving significant funding to our schools, youth sports, and so much more,” Governor Hochul said on Monday. “As this new industry continues to grow, New York will make sure we have the resources and guidelines in place to make it a success for all.”
Since its launch on January 8, sports betting through mobile apps resulted in more than $1.98 billion in wagers being placed during the first 30 days of operation. What’s more impressive is that the data does not factor in bets placed during the Super Bowl, typically the most-bet event of the year.
New York Gov. Kathy Hochul
“When we brought mobile sports betting to New York, we had confidence it was going to be a success, but to be able to break the national record of total handle for sports betting in a single month in our very first month, with primarily only six sportsbooks, is both rewarding and promising,” said State Senator Joseph Addabbo Jr.
The total Gross Gaming Revenue for the period was $138 million and, at a 51% tax rate, wagers brought more than $70.6 million in tax revenue for the state. These funds are earmarked toward elementary and secondary education, grants for youth sports programming, property tax relief, and problem gambling prevention, treatment and recovery services.
“Breaking this record proves that New York was ready for mobile sports betting and we are providing our state with a new significant revenue, educational and addiction funding source,” added Addabbo. “It also can give us an indication of where we go from here, building upon a solid foundation especially with the Super Bowl and March Madness within our sights. The future is extremely bright for mobile sports betting in New York!”
NY State Senator Joseph Addabbo Jr.
The record-setting figures were also posted with some operators yet to go live in the state. While the Gaming Commission authorized four operators –Caesars, DraftKings, FanDuel and Rush Street Interactive– to commence operations on market launch, on January 8, since then three more have also gone live: BetMGM, PointsBet and WynnBET. But two operators –Resorts World and BallyBet– have yet to join the action, providing New Yorkers even more options.
“With over $1 billion in sports betting handle in the first month, New York State is well on the way to being the sports betting capital of the world,” commented Assemblymember J. Gary Pretlow. “I’m happy the Gaming Commission proceeded with haste to get the determination of the operators in place two weeks earlier than anticipated.”
According to software firm GeoComply, which ensures geolocation requirements for sportsbooks, more than 1.76 million unique player accounts have been utilized for over 187 million transactions since market launch. This would represent 12.6% of the state’s 21 or older population.
Wagers in the first month include over $600 million on football, over $540 million on basketball and nearly $80 million on hockey. The figures from Sunday’s Super Bowl will be included in a weekly Mobile Sports Wagering Report, to be updated next Friday.
Original article: https://www.yogonet.com/international/news/2022/02/15/61390-new-york-posts-us-recordbreaking–2b-handle-for-first-30-days-of-mobile-sports-betting
