New York Mobile Sportsbooks Surpass $1B in Betting Handle

On January 8, New York finally launched its mobile sports betting market. This came in the wake of a three-year debate and stiff opposition to the measure. After former New York Governor Andrew Cuomo fell from grace, his withdrawal paved the way for the legalization of interactive gambling. Expectations for mobile sports betting handle were high, to begin with, but the latest data by the New York State Gaming Commission reveals that most projections had been underestimates. The state’s mobile sportsbooks had closed in on $1 billion in total betting handle as of Friday.

New York Will Likely Surpass the Current Record for Sports Betting Handle

After mobile sportsbooks hit $600 million in betting handle in less than 10 days, now, figures show that New York will likely surpass the record of $1.3 billion in sports betting handle that was set in New Jersey. As one of the sports betting pioneers, New Jersey launched the activity back in 2018.

But it wasn’t until last year in October when the state set the record for the highest sports betting handle out of all US states: $1.3 billion. Looking at New York, it seems that the state will surpass that record after its first month of mobile betting.

In fact, data released by the gaming regulator shows that mobile sportsbooks hit $1,175,605,981 in sports betting handle from the launch of the activity until January 23, 2022. The betting handle generated $91,427,275 in GGR for mobile sportsbooks.

With that in mind, there’s still plenty of time for mobile sportsbooks until February 8, which marks exactly 1 month of operation. Considering the result so far, it is clear that New York is going to be the new state that sets the record for the highest mobile sports wagering handle, the only question is what the final figure is going to be.

Breakdown of the $1.7 billion in sports betting handle shows that sportsbooks hit $572 million in sports wagering handle between January 16 and January 23, 2022. On the other hand, GGR for the period hit $43 million.

Caesars Retains a Leadership Position in New York

Overall, there are currently five sports betting operators that are active in New York. Those are DraftKings, FanDuel, Caesars, BetRivers, operated by Rush Street Interactive and BetMGM.

When it comes to mobile sports wagering handle and GGR, Caesars solidified its presence in New York. Between January 16 and January 23, Caesars’ mobile sports betting handle hit $229.7 million. In terms of GGR, the company collected some $19 million.

The second-most popular sports betting app for the period was FanDuel. The operator collected $159.6 million in sports betting handle representing $10 million in GGR. It comes as no surprise that DraftKings was also among the top three most popular sportsbooks during the second full week of mobile sports betting action. The company hit $131 million in sports betting handle representing $10.8 million in GGR.

Although BetMGM entered the state only recently, its mobile sports betting handle until January 23 hit $40.6 million. This represents some $2.5 million in GGR. Last but not least, RSI’s BetRivers sportsbook has seen $11.6 million in sports wagering handle between January 16 and January 23. That represents $784,797 in GGR for the period.