New York mobile sports betting revenue reaches new record in May
The state’s online sportsbooks reported $248.9m in revenue.
US.- New York’s sports betting revenue set a new record in May. The New York State Gaming Commission reported that operators generated $248.9m, up by 22.4 per cent increase year-over-year and surpassing the previous record of $247m set in January.
The state’s nine licensed online sportsbooks took $2.21bn in bets, over 10 per cent below the record of $2.48bn set in January but up by 12.1 per cent higher year-over-year. According to the Commission’s monthly wagering report, $126.9m was allocated to the state’s education fund from GGR, up 22.4 per cent.
FanDuel led the market with $803m in bets and revenue of $108.8m. DraftKings saw a $785m handle and $84.1m in revenue. Caesars reported $13.8m in revenue from $152.3m, Fanatics $17.9m from $190.6m, BetMGM $14.7m from $161.2m, Rush Street Interactive $4m from $50m and ESPN Bet $4m from $48.2m. Bally Bet followed with revenue of $769,446 off a $12m handle and Resorts World Bet $769,446 from $9.1m.
Gambling harm treatment bill
Last week, senator Joseph Addabbo introduced a bill in the New York Senate backing a move to force health insurers to cover the cost of the diagnosis and treatment of problem gambling in the state. Senate Bill S8352 is a companion bill to A8518, which was introduced by assemblymember Phil Steck in the Assembly last month and is under review by the Assembly’s Standing Committee on Insurance.
At the moment, most medical insurance does not cover problem gambling treatment unless the patient is also diagnosed with a substance use disorder. The proposed legislation would change this by considering problem gambling treatment on the same level as coverage for other addiction-related issues, such as drug and alcohol dependencies.
