A new day has dawned for Betting Apps NY. History has been made.by the Empire State.
The early money returns for the first nine days were staggering, so much so that the United States betting community wondered: How high could New York go in total handle in less than a full month of operation?
Higher than any state before. By far.
The national record came tumbling down Friday as New York posted a record handle of $1,624,919,978 – just in mobile wagers – from Jan. 8-30. When you add in nearly $15 million from retail wagers at New York's four commercial upstate casinos from Jan. 3-30, the total number hits $1.639 billion, And those figures do not account for Jan. 31.
NEW YORK MOBILE SPORTS BETTING, JAN. 24-30
CUMULATIVE TOTALS, JAN. 8-30
$21,571,803: Total Gross Gaming Revenue (GGR) reported from Jan. 17-23. The GGR number for Jan. 17-23 was $43,202,492 and it was $48,224,783 for the first nine days.
$11,001,620: This absolutely blows away the previous record for most taxes to a state in the month. In fact, that record was set in the first nine days with a report of $24,594,639. New York is tied for the highest tax rate in the nation with New Hampshire at 51%.
A Look at Each Sportsbook
The fourth week of official sports betting in the state continued its positive surge to end the first month of the new year.
Interesting to note that FanDuel passed Caesars to take over No. 1 for one week. Caesars had led the pack for the first two reports.
FanDuel New York posted $141,786,622 in mobile handle, down slightly from $159.63 million the week before. FanDuel’s GGR was a loss of $564,868 for the week. Since, Jan. 8, FanDuel has posted $501.792 million in total handle, $23,614,142 in GGR and taxes to the state come in at $12,043,212.
Caesars Sportsbook New York reported $128,143,427 in mobile handle, down quite a bit from $229.7 million the week before. Caesars’ GGR was at $14,136,472 for the week. Since Jan. 8, Caesars is at $615,504,344 with GGR at $55,887,328 and taxes dished out at $28,502,537.
DraftKings New York’s mobile handle was $141,786,622, up from $131.058 million a week ago. DraftKings had a GGR of $5,347,568 for the week and taxes were at $2,727,260. Since, Jan. 8, DraftKings has posted $367,661,238 in total handle, $27,098,781 in GGR and taxes to the state come in at $13,820,378.
BetRivers New York posted $10,229,325 million in mobile handle, down from $11.56 million the week before. BetRivers’ GGR was at Minus-$394,458 for the week. Since Jan. 8, BetRivers has posted $32,424,318 in total handle, $837,035 in GGR and taxes to the state come in at $426,888.
BetMGM New York posted $37.5 million in mobile handle, down from $40.57 million the week before. The GGR for BetMGM was at $710,277 for the week and taxes were at $362,241.
PointsBet New York launched on Jan. 25 and reported a handle of $29,465,195, a GGR of $2,336,813 and taxes paid of $1,191,775.
Reactions to the Record
“When we brought mobile sports betting to New York, we had confidence it was going to be a success, but to be able to break the national record of total handle for sports betting in a single month in our very first month, with primarily only six sportsbooks, is both rewarding and exciting,” said State Sen. Joseph P. Addabbo, Jr., the chair of the New York State Racing, Gaming and Wagering Committee. “Breaking this record proves that New York was ready for mobile sports betting and we are providing our state with a new revenue, educational and addiction funding source. It also can give us an indication of where we go from here, especially with the Super Bowl within our sights. The future is extremely bright for mobile sports betting in New York!”
The NYSGC also released a statement: “With Governor Hochul kicking off mobile sports wagering on January 8th, there is no doubt there is strong interest in online sports betting in the Empire State, which has just set a national record for monthly tax revenue. We look forward to a robust landscape of mobile sports wagering for years to come, one that helps to fund education in New York State as well as provide annual awards to sports programs for underserved youth and problem gambling education and treatment.”
Super Bowl Next Sunday ... Then What?
Is it possible New York can keep the numbers up after a historic January?
On one hand, bettors won’t have a steady stream of NFL games this month. On the other hand, you might have heard of a big game that will be played this month, the Super Bowl. All eyes and considerable money will be wagered on the game Feb. 13, in the matchup between the upstart Cincinnati Bengals and Los Angeles Rams on the Rams’ home field on SoFi Stadium.
New Yorkers will have to look to other betting avenues after sport’s biggest betting day of the year.
That concerns Addabbo, a driving force of mobile betting in New York..
“What does concern me, however, is the road ahead,” Addabbo said. “With all of these monies going to numerous programs throughout the state, we need to have a long-term plan and for these numbers to continue, it has to be long-term.
“Some of the perks, incentives and commercials are going to go away at some point. We just have to understand this is not going to be Super Bowl-like numbers each week. We always need to improve the product ... We want to be the best in the nation.”
So let’s examine some of those avenues.
On the hockey front, the New York Rangers and Islanders are looking for seeding in the NHL playoff chase. In the NBA, the New York Knicks are battling for a playoff spot and the Brooklyn Nets are trying to solidify a top seed in the NBA Eastern Conference.
And then, of course, college basketball teams are getting ready for conference tournaments heading into March Madness. The tournaments bring a lot of action, with games almost every night during the two-week conference tournament period. After Selection Sunday, the NCAA Tournament becomes the centerpiece of wagering across the nation where legalized sports betting occurs.
Lou Monaco had been East Coast Scene columnist for Gaming Today in Las Vegas since June 2019, covering the East Coast sportsbook scene with emphasis on NJ and PA. He also currently is a part-time writer for the high school sports department for NJ Advanced Media (NJ.com) in Iselin, NJ. Lou has over 30 years sports experience with previous stints at ESPN SportsTicker, Daily Racing Form and Oddschecker.
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