People who jumped in and got involved in New York sports betting earlier this year got a taste of wagering on the NFL.
The Jan. 8 start date allowed mobile sports providers to open wagering before the NFL’s Wild Card Weekend.
Fast forward to Sept. 8, when the NFL opens its 18-week, 272-game regular season.
It all kicks off that day as New York’s own Buffalo Bills visit the Los Angeles Rams (NBC, 8:20 p.m.).
It also marks the first time a full NFL season will be available for New Yorkers.
Don’t expect the massive NY sportsbook promos of last January.
How Did Quick Glimpse of NFL Work Out?
From Jan. 8 thru Super Bowl Sunday, Feb. 7, the state handled more than $2.45 billion via mobile and generated more than $153.9 million in Gross Gaming Revenue (GGR) from the seven operators that had launched by then.
FanDuel NY, DraftKings NY, Caesars NY and NY BetRivers launched on the first day, followed by BetMGM NY (Jan. 17), PointsBet NY (Jan. 25) and WynnBet NY (Feb. 4).
Historic numbers, for sure, but operators of NY sports apps will tell you that the state has not made it easy.
BetMGM Exec Cites Tax Rate for ‘Tempered Expectations’
With a 51% tax rate bestowed upon them from Albany, providers generated new customer registrations through lucrative offers from the outset.
But since the onslaught of various promotion and marketing through TV, radio, internet and social media platforms, many of the now nine providers in the state are scaling back their promotional ad spend.
For example, BetMGM NY has generated to date more than $430.87 million in mobile handle, along with more than $25.48 million in GGR. Its highest handle month ever was March, due in large part to the NCAA Men’s College Basketball Tournament, which led the way to a handle of $172.65 million.
Since then, BetMGM’s handle has been on the decline for four consecutive months. In July, the company reported a handle of about $73.23 million, a drop of nearly $100 million from its all-time monthly high.
So, you would think an additional 272 NFL games over an 18-week period would help, especially after the summer doldrums of sports betting the past few months.
Here’s what two key players had to say about the potential of NY NFL betting and the college season, as well.
“We’re headed into the start of both NFL and college football seasons. While it’s exciting, the onerous New York tax rate means that BetMGM won’t be advertising in New York,” Jason Scott, vice president of trading at BetMGM, said in a statement to EmpireStakes.com. “Incentives to customers will also be far less than in other states. As such, our expectations for NY are tempered this season.”
A PointsBet NY exec said the company is looking forward to both seasons.
“The moment NY was legalized, it quickly became one of the biggest handle states we operate in,” said Mike Korn, trading content analyst for PointsBet. “With full NFL and college football seasons available and the opportunities available to bet futures prior to the season starting, we expect it to again be one our highest turnover states this coming football season.”
In its latest weekly numbers posted on Thursday, PointsBet handled more than $5.65 million dollars for the week ending Aug. 21. Since launch, the mobile handle for PointsBet mobile handle is more than $128.12 million dollars, with its total mobile GGR over $8.36 million.
Addabbo Wins Primary, Readies for General Election Nov. 8
A key player and advocate for New York gaming moves on to the November general election.
New York State Senator Joseph Addabbo, Jr. (D - District 15), chairman of the Senate Committee on Racing, Gaming and Wagering, won his Democratic Primary Tuesday night.
Addabbo, who has been a staunch proponent of sports betting and expanding other forms of gambling, such as iGaming and downstate casinos within the state, won by an overwhelming 56% (more than 3,800 votes) over his counterparts, Japneet Singh (29%, 1,972), and Albert Baldeo (14%, 957).
Addabbo will face Republican Danniel Maio in November.
New York started sports betting on Jan. 8 and is one of a handful of states that has real money online casinos, which includes roulette and blackjack.
“I am proud to be named the winner of the Democratic Primary for the 15th Senate District, a district I have represented since 2008,” Addabbo said in a statement. “It was a tough campaign, and I couldn’t do it without the help and support of my family, staff, and amazing community partners.
“However, the work is not over. We will regroup and focus on the upcoming General Election this November, and I look forward to representing the people of the 15th District in Albany.”