new york online sports betting

In just its opening weekend, four New York online sports betting sportsbooks took in more than $150 million in wagers, according to the recently released New York Fiscal Year 2023 Budget Briefing Book.

During its first weekend, more than 650,000 NY sports betting accounts were created, according to the state.

Overall, more than 1.2 million sports betting accounts have been created in just 10 days. 878,000 of those accounts are unique players, more than New Jersey and Pennsylvania combined over the same period, according to data from GeoComply.

Over 17.2 Million Transactions for NY Online Sports Betting

During the initial launch weekend, GeoComply reported 17.2 million transactions in the state. That figure increased to more than 17.9 million transaction this past weekend, which also coincided with the launch of BetMGM, the state’s fifth approved online sportsbook operator.

Easing concerns for the nearby Garden State, GeoComply noted that only 9.3% of New York bettors so far had previously placed bets in New Jersey. 770,840, 87.8% of New York players, are brand new to regulated online sports betting and have never before been seen in GeoComply’s systems.

In fact, New Jersey averaged 12.6 million transactions in two weekends leading up to New York’s launch, and then averaged 13.1 million transactions in the two weekends since the launch. New York’s launch doesn’t seem to be having much of a negative effect on New Jersey’s own impressive online sports betting program.

Downstate Casinos Included in FY 2023 Budget

In more good news for the state’s gambling interests, New York Gov. Kathy Hochul included plans for three new casino licenses in her 2023 executive budget.

Hochul noted the additional casinos can be located statewide, including downstate.

Senator Joseph P. Addabbo Jr. praised Hochul’s decision to include the casinos and said it will be a boon for the state.

“Today’s Executive Budget released by Governor Kathy Hochul presents a fiscal path forward for New York State during these difficult times. I believe the inclusion of expediting the three full casino licenses for our downstate region has the potential to bring in $1.5 billion in revenue for the state, additional educational funding and improvements to problem gambling programs. I look forward to continuing to work with the Hochul administration and the Gaming Commission to ensure that gaming in the state expands and advances in a credible, reasonable manner,” Addabbo Jr. said in a release.

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