The New York State Gaming Commission (NYSGC) has released its revenue report for the state’s first calendar month of mobile sports betting revealing that retail and online sportsbooks accepted over $1.68 billion in wagers during the month of January.
The report covers the period from the January 8th launch to January 31st. This means that New York retail and mobile sportsbooks comfortably beat New Jersey’s record monthly handle of $1.35 billion set in January and they did so in just over three weeks.
Incredibly, this means that New York sports betting operators have now set an all-time record for a single month in the state’s first month of operation.
Mobile sports wagers accounted for 98.81% of the overall handle as gamblers placed over $1.67 billion in wagers through online sportsbooks. Meanwhile, the official retail handle stands at $16.5 million in wagers placed at the state’s four upstate casinos—Rivers Casino in Schenectady, Resorts World Casino in Monticello, Del Lago Casino in Waterloo and Tioga Downs in Nichols. This is down 21.7% on the previous month’s retail handle of $21.13 million.
Gross gaming revenue (GGR) from both retail and mobile sports betting combined amounted to $123.8 million for January. As a result, the state collected $63.1 million in taxes setting another national record for highest sports betting tax revenue in a single month. However, this is due to the fact that New York alongside New Hampshire has the highest tax rate in the country set at 51% of GGR. New York state currently has 34 casinos.
Although only four mobile sports betting operators launched on January 8th — Caesars Sportsbook, FanDuel, Draft Kings, and BetRivers — by the end of the month BetMGM and PointsBet had also launched. All six New-York legal sportsbooks are included in the monthly report.
The NYSGC also gives a detailed breakdown of each operator’s revenue data for the month.
The six providers that were operating in January reported GGR as follows:
- Caesars — $58,985,112
- DraftKings — $29,582,503
- FanDuel — $28,089,392
- BetMGM — $3,847,998
- PointsBet — $2,561,623
- BetRivers — $1,072,328
WynnBet launched its mobile sports betting app in New York on February 4th while Resorts World and Bally Bet hope to launch in the near future.
Legal online poker is not currently available in New York State unless using VPN.
An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.