New York State posts nearly $2bn May sports betting handle
Revenue grew month-on-month by close to $20m.
The New York State Gaming Commission has released its mobile sports betting numbers for the month of May.
The Empire State reported nearly $2bn in handle for the month, reflecting more than a $8m increase when compared to results from April.
Last month’s handle ranked among the highest results to date since the Empire State opened the market for mobile sports wagering. November remains the top month since the market’s opening, according to the Commission’s report.
Other strong months during the year include September and October, which brought in monthly handles of $1.75bn and $2bn respectively.
During the past 12 months, New York has taken in more than $19bn in wagers.
May’s gross gaming revenue (GGR) rose by nearly $20m when compared to April’s numbers. GGR statewide climbed to $203.3m for May.
Platform providers around the state reported a combined total of nearly $99.6m in net revenue during May. Net revenue grew by almost $10m when compared to earnings from April.
Revenue set aside for education for May totaled $103.7m, close to $10m more than the state posted in April.
In other state news, CDI recently completed its sale of 49% of its United Tote Company subsidiary to the New York Racing Association’s subsidiary, NYRA Content Management Solutions, LLC.
Online sports betting in New York went live two years ago. To date, more than 35 states have embraced regulated sports betting since the US Supreme Court overturned the Professional and Amateur Sports Protection Act of 1992 (PASPA) in May 2018, also known as the Bradley Act.
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