New York Sports Betting Revenue Surges

    • In January, sports betting revenue increased 75.7% year-over-year in New York State.
    • With online gambling illegal in New York, its revenue still pales in comparison to New Jersey's.

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New York’s sports gambling revenue rocketed in January, but remained a pittance compared to states that allow mobile gambling.

New York State saw its sports betting revenue jump to $3.57 million in January, a 43.4% increase over the previous month, and a 75.7% leap from January 2020. The figures come from four upstate casinos, where people may place wagers in person, and do not include tribal casino revenue.

  • Despite the surge, New York’s numbers still pale in comparison to New Jersey, which brought in $6 billion in sports betting revenue in 2020. 
  • Mobile sports betting, which is still illegal in New York, accounted for 92% of bets placed with sportsbooks in the Garden State.

New York Gov. Andrew Cuomo had previously opposed online gambling, but appears to be softening his stance.

The State Assembly is considering legislation that would allow casinos to partner with up to two online sports betting companies. The governor’s office is promoting competing legislation that would have mobile sports betting run directly by the state. 

Sports betting is gradually making its way through numerous state legislatures, including Arizona and Maryland. Texas Gov. Greg Abbott recently announced that he opposes legalizing the practice.