New York sports betting hits $2.48 billion record in January
New York mobile sportsbooks registered record handle of US$2.48 billion in January, according to the New York State Gaming Commission.
The figure is the highest for a single month since online sports betting launched in January 2022.
It was the fifth consecutive month that licensed mobile sportsbooks in New York reported that players had wagered over US$2 billion. Gross gaming revenue also increased, reaching US$247 million, up from US$150.3 million in December.
All licensed sportsbooks in New York State must pay 51% tax on gross gaming revenue. In January, US$149 million in state income from gambling was paid to New York’s education fund, an increase on December’s US$76.8 million.
Of the state income earmarked for education, the New York State Gaming Commission disclosed that US$6 million would be distributed to problem gambling education and treatment purposes, while US$5 million would go towards youth sports activities and its education grant program.
New York joined the list of US states offering legal online sports betting in 2022. The state is now home to nine regulated mobile sportsbooks licensed by the New York State Gaming Commission.
The New York State Gaming Commission is looking to improve these numbers further by cracking down on gambling sites which may take away revenues like sweepstakes platforms.
The Commission held a meeting at the end of January where Chairman Brian O’Dwyer expressed “serious concerns” about sweepstake sites.
Charlotte Capewell brings her passion for storytelling and expertise in writing, researching, and the gambling industry to every article she writes. Her specialties include the US gambling industry, regulator legislation, igaming, and more.
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