Mobile sports wagering reached new records in New York in January. Bettors in the Empire State wagered over $2.48 billion, the highest amount in NY history and the fifth consecutive time players have wagered more than $2 billion during the month.
This was a 64.3% month-over-month increase, with December only generating a handle of $2.28 billion.
In addition to New York’s wagering handle, gross gaming revenue totaled $247 million last month, the highest amount of the current fiscal year and a rise of 8.8% compared to the previous month, which produced $150.3 million in gross gaming revenue.
New York is home to nine licensed sportsbook operators: FanDuel, BetMGM, Fanatics, BetRivers, Resorts World, Bally Bet, Caesars, DraftKings, and ESPN Bet. In January, combined net revenue by platform providers generated $121 million, an increase from $73.6 million reported in December.
Likewise, online sportsbook operators in the Empire State are taxed at 51%, with revenue distributed between New York’s public schools, charitable organizations, and local governments. Taxes collected from sports betting reached $149 million in January, up from $76.8 million the previous month.
As disclosed by last month’s revenue report, the New York State Gaming Commission reveals that $6 million generated from its sports betting taxes will go toward problem gambling education and treatment purposes, whereas $5 million will be given to youth sports activities and education grant programs.