new york online sports betting

Surprise! WynnBET is now live in New York and is the seventh live sportsbook for New York online sports betting.

A formal announcement on the sportsbook launch will be made tomorrow, but the launch was confirmed by WynnBET Executive Director of Marketing Seth Medvin.

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WynnBET Now Live in NY

WynnBET received regulatory approval to launch in New York earlier this week.

WynnBET NY is now the seventh launched online sportsbook in the Empire State, joining Caesars Sportsbook NYDraftKings Sportsbook NYFanDuel NYBetRivers NYBetMGM NY and PointsBet NY.

New York is still waiting on BallyBet and Empire Resorts to receive regulatory approval to launch. In an interview with Contessa Brewer on CNBCBally’s Chairman Soo Kim noted that Bally Bet would not launch in New York until at least April.

Kim said the company is fine with missing Super Bowl LVI.

Empire Resorts has yet to declare when they will launch their product.

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New York Online Sports Betting Is Thriving

The addition of WynnBET will only add to the early impressive handle and revenue numbers for the Empire State.

In a little over two weeks, New York has taken in $1.18 billion in total bets. New Jersey currently holds the record of $1.3 billion in handle for a single month, set November 2022.

New York has nearly reached that record setting total in a little more than two weeks with only five operators.

Here are the handles for the five sportsbooks for the week of Jan. 23:

  • Caesars: $229.7 million
  • FanDuel: $159.6 million
  • DraftKings: $131.1 million
  • BetMGM: $40.5 million
  • BetRivers: $11.6 million

Here are the total handles for the five sportsbooks from Jan. 8 to Jan. 23:

  • Caesars: $487.3 million
  • FanDuel: $360 million
  • DraftKings: $265.4 million
  • BetMGM: $40.5 million
  • BetRivers: $22.2 million

NY Sports Betting Revenues

For the week of Jan. 23 the five sportsbooks reported a total of $43.2 million in gross gaming revenue. At New York’s 51% tax rate, the five sportsbooks made New York $20.7 million in taxes for the week of Jan. 23 alone.

Here are the total gross gaming revenues for Jan. 23 for the five sportsbooks:

  • Caesars: $19,036,117
  • DraftKings: $10,828,664
  • FanDuel: $10,038,212
  • BetMGM: $2.5 million
  • BetRivers: $784,797

From Jan. 8 to Jan. 23, the total gross gaming revenues have been reported at $90.6 million, a total of more than $45 million in taxes for the state.

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Covering regulatory developments in online gambling throughout this fine country.