New York State May sports betting handle reaches $2.21bn

The New York State Gaming Commission has published its May mobile sports betting results.

The state posted a $2.21bn mobile sports betting handle in May, an increase of more than $100m year-over-year.

However, mobile sports betting wagers statewide dipped a little when compared to results posted in April.

Throughout the past 12 months, the state has exceeded the $2bn mark for its sports betting handle several times. However, last month’s results were not high enough to surpass the previous high set in March.

New York’s handle in March reached more than $2.43bn.

In May, the state reported it had generated nearly $249m in gross gaming revenue.

Net revenue to platform providers reached $121.9m in May. The state posted more than $126.9m in net revenue to education in the month of May.

Good to know: Online sports betting in New York went live nearly three years ago

The state’s online sports betting market launched in January 2022. Last fiscal year, the state reported a $23.94bn mobile sports betting handle.

To date, 38 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.

Voters in Missouri said yes to a legal sports wagering market during this week’s election, bringing the state one step closer to becoming the 39th state to welcome this market.

Laura Mack

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