If the first thirty days of New York’s fledgling mobile sports betting industry are anything to go by, things are looking very promising. Reports show that New Yorkers wagered around $2 billion over the course of the month since the Empire State launched its legal online sports betting market.
New York launched its market on January 6th, and numbers were recorded until February 6th by the state’s Gaming Commission.
Key figures from the report show:
– $600 million was wagered on football.
– $540 million was wagered on basketball
– $80 million was wagered on ice hockey.
– Gross gaming revenue for the first 30 days reached $138.5 million.
– $70.6 million in tax revenue was generated for the state due to its 51% tax rate.
– 187 million transactions were made during the period.
New York Beats New Jersey’s Record
New York has now beaten the US monthly handle record for the first 23 days of legalization in a state. The last record was held by New Jersey when it launched in October 2021 and consumers wagered $1.30 billion.
Consumers in New York wagered $1.63 billion in the first 23 days, in comparison.
“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,” said NY governor Kathy Hochu. “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.”
