The world of gaming knew that the launch of online sports betting in New York could be a game changer. However, not everyone expected it to be this much of a success. Indeed, the Empire State has already shattered monthly betting records.
New Yorkers are betting at a rate unseen in any other regulated jurisdiction, with the state recording handle of $1.6bn in just 22 days according to the New York State Gaming Commission.
Experts are impressed with this launch, although not entirely surprised, with PlayNY lead analyst, Mike Mazzeo stating: “New York supplanting New Jersey as the nation’s largest sports betting market was inevitable, but few thought it would take only three weeks.
“Betting should calm once football season ends and operators slow their promotional spending. Still, it’s clear that New York is going to be the flagship sports betting market in the US for the foreseeable future.”
This marks the first time since January 2020 that any state other than New Jersey has topped the sports betting handle list and to further compound New York’s victory, supplants its monthly record of $1.3bn.
The final week of betting in The Empire State saw FanDuel take on the most bets, with $141.8m, followed by Caesars Entertainment and DraftKings with $128.1m and $102.2m respectively.
Finally, just 22 days into legalized sports betting, the activity has yielded $57.6m in tax revenue. This is more than double the tax revenue that any other state can boast.
