New York Sports Betting: the US’ flagship market in just 24 days

New York Sports Betting: the US’ flagship market in just 24 days

Caesars led the early going in New York’s sports betting industry, as the Empire State became the US’s flagship market in less than 24 days of existence. 

Sports Betting Booming in Big Apple

In January, New York’s online and retail sportsbooks collected $1.69 billion in wagers, including $1.67 billion online, after averaging $69.6 million in wagers per day following their launch on January 8. A total of £124.1 million, the most monthly income in the US’s history, was earned by mobile companies during the month, generating $60.8 million in revenue for operators. To put the result in perspective, Arizona set the record for the biggest sports betting handle in the first month with $291.2 million in September.

Meanwhile, New Jersey previously held the record for the greatest monthly sports betting volume with $1.3 billion in October, with Nevada joining the Garden State as the only other state to surpass the $1 billion mark in betting volume in a single month. Caesars was the highest-grossing online sportsbook in January, generating $58.99 million in gross revenue on $627.4 million in wagers, which, according to PlayNY analysts, is more than the total revenue generated by all sportsbooks in any state except New Jersey, Nevada, Illinois, and Pennsylvania in a single month.

FanDuel leads the charge

FanDuel was second in the state with $517.4 million in wages and $28.1 million in gross revenue, followed by DraftKings ($377.95 million in handle and $29.6 million in GGR), BetMGM ($82.2 million in handle and $3.8 million in GGR), BetRivers ($33.5 million in handle and $1.1 million in GGR), and PointsBet ($31.2 million in handle and $2.6 million in GGR). WynnBet just launched its mobile app, with Resorts World anticipated following suit shortly before Bally’s enters the battle in April.

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About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.