New York becomes first state to surpass $2 billion in sports wagers in a single month
New York was always going to be one of the major states for sports betting in the U.S. once it allowed mobile betting, but I’m not sure people realized the staggering amount of money that would be wagered on a weekly, monthly and yearly basis.
New York State reported on Friday that online sports betting handle (total dollars wagered) was $2.007 billion, the first time that any U.S. State has surpassed the $2 billion mark in a month.
The Empire State has been the biggest market for sports betting handle (total dollars wagered) ever since it legalized mobile wagering back in January of 2022. To show the power of mobile wagering, remember that in Dec. 2021, New York State has $21.1 million wagered on sports; in Jan. 2022, that number ballooned to $1.686 billion.
It also helped New Yorkers to be able to wager on sports in their home state, rather than take the ferry, PATH train or a bridge to New Jersey to place their mobile wagers.
New York has now gone over $1 billion in sports betting handle in every month this year, with the exception of July, when the total handle was $966.5 million.
New York State had $1.555 billion in sports betting wagers in Oct. 2022, so the $2.007 billion represents a near 30 percent year-over-year increase.
Will it be even higher in November?