New York handles more than $600 million in mobile sports betting in first nine days
Mobile sports betting in New York is off to a flying start, with more $600 million in handle in the first nine days. Credit: AP
Think New Yorkers were ready for mobile sports betting to start?
In the first nine days of legalized online sports betting, the four operating sportsbooks handled more than $600 million in bets, according to the New York State Gaming Commission's weekly records.
Mobile sports betting began on Saturday, Jan. 8, and records show that through Jan. 16 (the last full week of data available), a total of $603,053,834 was wagered between the first four books to receive clearance to operate: Caesars Sportsbook, DraftKings, FanDuel and Rush Street Interactive.
The gross gaming revenue (GGR) — the profits made by the sportsbooks on the wagering — totaled $48,224,783. With New York taxing the online sportsbook operators' profits at 51%, the state collects $24,594,693.33 in tax revenue.
Below is a breakdown of how the sportsbooks performed from Jan. 8-16.
The state licensed nine sportsbook operators in total, but only those four received clearance from the state to begin operating on Jan. 8 after clearing all their regulations. BetMGM launched on Jan. 17, and will factor into the next reports released by the Gaming Commission.
With New Yorkers being able to bet on the final week of the NFL regular season, plus three weeks of the playoffs, the CFP national championship game, NBA, NHL, soccer, UFC, tennis and more events, it's possible the state could challenge the $1.3 billion monthly record handle set by New Jersey last October.
Mark La Monica is a deputy sports editor at Newsday. He also covers mixed martial arts.
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