New York online sports wagers surpass $1bn in opening 16 days

Consumers in New York wagered more than $1.0bn (£744.5m/€895.4m) on online sports betting in the first 16 days since the state’s regulated market launched.

Players spent a total of $1.18bn in the period that the market launched on January 8 to the end of the second full week of legalization on January 23.

The New York State Gaming Commission also reported that gross gaming revenue for the period reached $91.4m.

Caesars Sportsbook, FanDuel, DraftKings and Rush Street Interactive all began operations on opening day on January 8, while BetMGM went live on January 17.

PointsBet also joined the regulated market on January 25, but as this was after the end of the 16-day reporting period, which ended January 23, it was not included in the report.

Caesars Sportsbook was the leading operator in the 16-day period, processing $487.4m in bets and bringing in $41.8m in revenue.

Flutter Entertainment-owned FanDuel ranked second with a $360.0m handle and $24.2m in revenue, then DraftKings with $265.5m in wagers and $21.8m in revenue.

BetMGM posted $40.6m in handle and $2.5m in revenue, while Rush Street Interactive, despite launching earlier than BetMGM, followed with a $22.2m handle and $1.2m in revenue.

The New York State Gaming Commission continues to publish weekly updates on its newly regulated market. The state’s handle for its first full week, plus two days from the prior week, was $603.1m, while revenue reached $48.1m.

New York is well on track to record the highest handle in a month for any state. In neighbouring New Jersey, players staked $1.30bn in November 2021.

Original Article