New York sports betting handle reaches nearly $2bn in first 30 days

The state recorded a handle of $1.98bn and gross gaming revenue of $138.5m between January 8 and February 7.

US.- Players in New York wagered $1.98bn in the first 30 days after the state launched its legal online sports betting market on January 8. According to figures released by the New York State Gaming Commission, the first 30 days of legal online sports betting generated gross gaming revenue (GGR) of $138.5m.

Players wagered over $600m on football, $540m on basketball, and nearly $80m on ice hockey. With a 51 per cent tax rate, that means more than $70.6m in tax revenue was generated during the period.

Caesars, FanDuel, DraftKings, and Rush Street Interactive (RSI) went live on opening day. Caesars Sportsbook registered $702.7m in bets in the first 30 days, posting $64.7m in revenue. FanDuel marked $632m and $30.2m in revenue, while DraftKings reported a $454.9m handle and $35.8m in revenue.

BetMGM took $112.3 in bets and reported $3.7m in revenue, though it did not launch in New York until January 17. PointsBet, which launched on January 25, took $41.7m and reported $2.5m in revenue. RSI posted a $40.9m handle and $1.6m in revenue. WynnBet went live on February 7, one day after the end of the 30-day reporting period.

Governor Kathy Hochul said: “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.”

“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.”

Last week, the New York State Gaming Commission reported that the state´s online sports betting players spent $1.6bn from launch on January 8 until the end of the month. During the first 16 days of regulated mobile sports betting, from launch until January 23, New yorkers wagered more than $1.18bn. Gross gaming revenue for the period reached $91.4m.

In the first week after New York launched sports betting, 1.2m accounts were created across the five sportsbooks in the state, with 878,000 unique players. That’s more than New Jersey and Pennsylvania combined in their first weeks of betting.

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