The first month of New York sports betting brought in huge money — $1.98 billion in wagers over its first 30 days since launching in the Empire State, Governor Kathy Hochul announced on Monday.
It’s the most money ever accrued in legal sports-betting wagers over a 30-day span by any state in the United States. Those wagers generated over $70 million in tax revenue for New York with funds to be used for education, youth sports, and more.
“Over the past month, we’ve seen how mobile sports wagering can be an economic engine for New York, driving significant funding to our schools, youth sports, and so much more,” Governor Hochul said. “As this new industry continues to grow, New York will make sure we have the resources and guidelines in place to make it a success for all.”
Mobile sports betting in New York officially launched on Jan. 8 where seven major sportsbooks — Caesars, Draftkings, FanDuel, Rush Street Interactive, BetMGM, Points Bet, and Wynn Interactive — have begun operating in the state. Per software firm GeoComply, over 1.76 million unique player accounts made approximately 187 million transactions.
This isn’t counting one of the heaviest sports betting days of the year, Super Bowl Sunday, between the Los Angeles Rams and Cincinnati Bengals. According to nationwide estimates, 31.4 million people bet on Super Bowl LVI — which was won by the Rams — with roughly $7.6 billion worth of wagers put forth, according to the American Gaming Association. New York will obviously be a major player in those figures.
“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 promising,” New York State senator Joseph Addabbo Jr. said. “Breaking this record proves that New York was ready for mobile sports betting and we are providing our state with a new significant revenue, educational, and addiction funding source.
“It also can give us an indication of where we go from here, building upon a solid foundation… The future is extremely bright for mobile sports betting in New York.”
