New Yorkers positioned a record-shattering $603 million in bets throughout the launch of mobile sports gambling, in line with preliminary figures launched by the state Gaming Fee on Friday.
The wagers on soccer, basketball, hockey and different sports activities generated $48.2 million in gross gaming revenues from Jan. 8-16.
Which means New York — which imposes a whopping 51 percent tax rate on cellular sports activities betting operators’ revenues — has already pulled in $24.6 million for state coffers.
Over the course of two weekends and 9 days, New York has already surpassed Pennsylvania as having essentially the most profitable launch. The Keystone State generated $23 million in sports activities betting income for the whole month of November 2021, in line with playing analysts at PlayNY.com.
The $603 million in bets in the course of the launch quantities to $67 million per day in wagering.
By comparability, New Jersey beforehand set the US report for bets in a month with $1.3 billion in October, or about $41.9 million in sports activities wagers per day, PlayNY mentioned.
“Betting quantity is outstripping even essentially the most optimistic projections thus far. A few of that is enthusiasm over lastly getting cellular sports activities betting,” mentioned PlayNY.com analyst Mike Mazzeo.
“A few of that is heavy promotion from the operators. The underside line, although, is New York is taking part in in a league of its personal.”
Gaming Fee Brad Maione mentioned, “We now have been happy with the deal with [amount wagered], which signifies curiosity in cellular sports activities wagering and accessibility to the licensed suppliers.”
Up to now, so good mentioned state Sen. Joe Addabbo Jr. (D-Queens), who chairs the racing, gaming and wagering committee.
“These are nice numbers. It’s a strong begin and we have now the Nationwide Soccer League playoffs and the Tremendous Bowl developing,” Addabbo mentioned.
The early reviews discovered:
- Caesar’s Sports activities Guide led the pack, posting $257.7 million in bets, producing $22.7 million in gross revenues.
- FanDuel recorded $200.4 million in bets and $14.1 million in revenues.
- Draft Kings reported $134.4 million and $10.9 million in revenues.
- BetRivers enticed $10.6 million in wagers and $446,696 in revenues.
“We’ll see if NY can sustain these large numbers because the sports activities calendar turns and promos for brand spanking new customers begin dying down,” PlayNY.com mentioned. “Nevertheless, this report definitely evokes encouragement because the state has the potential to grow to be the No. 1 sports activities betting market within the US.”
Addabbo’s solely grievance is that the Caesar’s launch suffered from on-line glitches that impacted prospects trying to position bets.
Earlier than telephone and web sports activities betting was accredited, gamblers may solely place wagers on video games at upstate casinos, an inconvenient trek for a lot of downstate residents.
Many metropolis residents merely arrange cellular accounts and crossed the Hudson to position telephone bets in neighboring New Jersey.