New York sports betting handle reaches nearly $1.5bn in February

New York launched its legal online sports betting market on January 8.

03/14/22

New York recorded $1.5bn in wagers in February 2022. It’s the second-highest monthly total for any US state yet.

US.- Players in New York wagered $1.5bn in February. That’s a12 per cent drop from the $1.7bn national record that New York set in January, but it’s still the second highest monthly handle of any state since sports betting was legalised in the US.

The New York State Gaming Commission said players wagered $54.6m per day at online sportsbooks. That was down from $69.9m per day during 24 days of betting in January. Sports betting generated gross gaming revenue (GGR) of $82.4m in February, down from a record $124.1m in January. Operators generated $40.4m in revenue and pumped $42m into the treasury.

Sportsbooks in New York have now generated $206.5m in gross revenue from $3.2bn in wagers in their first two months of operation. So far, New York has generated more sports bets than all but eight states did in 2021.

FanDuel took $568.1m in bets in February, up from $517.4m in January. Those bets generated $23.2m in revenue, compared with $28.1m in January. DraftKings rose to second place with $387.6m in stakes, up from $378m in January.

However, Caesars, which had led online operators with a $627.4m handle in January, took $323.4m in bets. Revenue fell to $19.8m from $59m in January.