New Yorkers place report setting $600 million in cellular sports activities playing launch

landing!

New Yorkers positioned a record-shattering $603 million in bets throughout the launch of cellular sports activities playing, based on preliminary figures launched by the state Gaming Fee on Friday.

The wagers on soccer, basketball, hockey and different sports activities generated $48.2 million in gross gaming revenues from Jan. 8-16.

Which means New York — which imposes a whopping 51 p.c tax fee on cellular sports activities betting operators’ revenues — has already pulled in $24.6 million for state coffers.

Over the course of two weekends and 9 days, New York has already shocked Pennsylvania as having probably the most profitable launch. The Keystone State generated $23 million in sports activities betting income for the complete month of November 2021, based on playing analysts at PlayNY.com.

In simply two weekends and 9 days, New Yorkers already surpassed Pennsylvania as having probably the most profitable launch for sports activities playing — shattering a report $603 million in bets.SOPA Pictures/Mild Rocket by way of Gett

The $603 million in bets throughout the launch quantities to $67 million per day in wagering.

By comparability, New Jersey beforehand set the US report for bets in a month with $1.3 billion in October, or about $41.9 million in sports activities wagers per day, PlayNY stated.

“Betting quantity is outstripping even probably the most optimistic projections to date. A few of that is enthusiasm about lastly getting cellular sports activities betting,” stated PlayNY.com analyst Mike Mazzeo.

New York’s 4 cellular sportsbooks mixed to deal with over $603.1 million within the first week, per @NYSGamingComm.

The state averaged $86.2 million in wagering per day — over twice as a lot as New Jersey did when it broke the month-to-month deal with report of $1.3 billion in October 💵 pic.twitter.com/ydABdExIOC

— Entrance Workplace Sports activities (@FOS) January 22, 2022

“A few of that is heavy promotion from the operators. The underside line, although, is New York is enjoying in a league of its personal.”

Gaming Fee Brad Maione stated, “Now we have been happy with the deal with [amount wagered], which signifies curiosity in cellular sports activities wagering and accessibility to the licensed suppliers.”

To date, so good stated state Sen. Joe Addabbo Jr. (D-Queens), who chairs the racing, gaming and wagering committee.

New York has already pulled in $24.6 million for state coffers, because the wagers on soccer, basketball, hockey, and different sports activities generated $48.2 million in gross gaming revenues from Jan. 8-16.SOPA Pictures/Mild Rocket by way of Gett

“These are nice numbers. It is a stable begin and now we have the Nationwide Soccer League playoffs and the Tremendous Bowl arising,” Addabbo stated.

The early studies discovered:

• Caesar’s Sports activities Guide led the pack, posting $257.7 million in bets, producing $22.7 million in gross revenues.
• FanDuel recorded $200.4 million in bets and $14.1 million in revenues.
• Draft Kings reported $134.4 million and $10.9 million in revenues.
• BetRivers enticed $10.6 million in wagers and $446,696 in revenues.

“We are going to see if NY can sustain these huge numbers because the sports activities calendar turns and promos for brand new customers begin dying down,” PlayNY.com stated. “Nevertheless, this report definitely conjures up encouragement because the state has the potential to turn out to be the No. 1 sports activities betting market within the US.”

Sen. Joe Addabbo Jr. stated the numbers are “nice” and a “stable” begin because the Nationwide Soccer League Tremendous Bowl approaches.The New York Senate

Addabbo’s solely criticism is that the Caesar’s launch suffered from on-line glitches that impacted prospects making an attempt to position bets.

Earlier than telephone and web sports activities betting was authorized, gamblers might solely place wagers on video games at upstate casinos, an inconvenient trek for a lot of downstate residents.

Many metropolis residents merely arrange cellular accounts and crossed the Hudson to position telephone bets in neighboring New Jersey.