Wednesday December 6, 2023

New York Sports Betting Handles Record $1.6B In First Month

Danny Wild-USA TODAY Sports/Design: Alex Brooks
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New York released numbers from its first month of legal sports betting, and the state’s official handle totaled more than $1.62 billion — topping the single-month record for any state.

The state set its record in less than four weeks, as its mobile apps weren’t permitted to launch until Jan. 8. The first month’s total included six mobile sportsbooks, which recorded $113 million in revenue as of Jan. 30.

WynnBet launched as the state’s seventh mobile sportsbook on Friday, and BallyBet has not yet launched.

New Jersey, which took three years to pass $1 billion handled in one month, held the previous record at $1.3 billion during the month of October.

  • New Jersey’s total includes retail and mobile sportsbooks.
  • New York’s four upstate retail sportsbooks handled an additional $21 million, which totals nearly $1.65 billion including both brick-and-mortar and mobile sportsbooks.

Sports Betting Empire State

New York collects 51% of the state’s sports betting revenue in taxes, and Gov. Kathy Hochul’s budget plan reportedly expects $357 million in FY2023 from the additional source. By 2026, it estimates $509 million.

“We are providing our state with a new revenue, educational, and addiction funding source,” Sen. Joseph Addabbo said. “It also can give us an indication of where we go from here, especially with the Super Bowl within our sights.”

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