new york online sports betting

New York online sports betting just continues to shatter sports betting records.

New York has taken in $1.98 billion in bets in its first 30 days of online sports betting, according to Gov. Kathy Hochul in a press release.

$2 Billion In New York Online Sports Bets

It’s first 30 days of existence overlapped two months, but even at the end of the calendar month of January New York reported $1.625 billion in bets from Jan. 8 to Jan. 30.

New Jersey held the previous handle record of $1.3 billion set in October 2021.

“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,” Hochul said in the release. “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.”

$70.6 Million in Taxes From Sports Betting

The total gross gaming revenue for the state was over $138 million and, at a 51% tax rate, brought more than $70.6 million in tax revenue. New York online sports betting tax revenue supports elementary and secondary education, grants for youth sports programming, property tax relief, and problem gambling prevention, treatment and recovery services.

The New York State Gaming Commission has yet to release handle and revenue reports for Caesars Sportsbook NYDraftKings Sportsbook NYFanDuel NYBetMGMPointsBet NY, WynnBET NY, and BetRivers NY for the week ending Feb. 6.

However, with seven sportsbooks now available in the Empire State and the Super Bowl being played this past Sunday, February is likely to be an even bigger month for New York.

Assembly member J. Gary Pretlow, a longtime proponent of sports betting in New York, applauded the efforts of the Empire State.

“With over $1 billion in sports betting handle in the first month, New York State is well on the way to being the sports betting capital of the world. I’m happy the Gaming Commission proceeded with haste to get the determination of the operators in place two weeks earlier than anticipated,” he said in a release.

Additional NY Sportsbooks on the Way

WynnBET launched last week, bringing the state’s total operations books up to seven. It will be interesting to see just how much a difference this additional sportsbook adds to the total handle and revenue figures.

Bally Bet won’t be joining the fray until April at least. It is unknown when Empire Resorts will launch.

Covering regulatory developments in online gambling throughout this fine country.