Last updated on March 23rd, 2024 at 09:31 am
New York became the second state to reach at least 40 billion in sports betting handle. Also, it took the state 115 weeks to achieve the milestone. New York mobile sports betting launched in January 2022. PPH bookie experts say New Jersey is the first state to reach the mark.
In the seven days ending March 17, the New York Gaming Commission recorded wagers totaling $445.3 million, crossing the barrier. Profits for the state of more than $40 million have been recorded twice in the past three weeks, with the most recent instance being just before the Super Bowl. For the past 23 weeks running, New York’s mobile sportsbooks have accepted $400 million in wagers 22 times.
New York’s total handle increased by 1.9% and revenue by 8.8% week-over-week. It has arrived at the height of March Madness, the most exciting time of year for sports bettors.
New York Mobile Sports Betting Handle
With a handle of $148 million, FanDuel captured the lead, earning $21.3 million—more than half of the state’s online gambling industry total for the week. DraftKings came in second, although its income dropped from $13 million to $11.3 million compared to the previous time.
Just weeks after launching in New York, Fanatics Sportsbook generated a seven-figure income in the state. This comes after the company successfully migrated the platform from PointsBet earlier this month. Meanwhile, BetRivers generated Rush Street Interactive’s biggest handle since mid-November. According to pay per head sportsbook experts, the company is allegedly exploring a possible sale to a major like DraftKings.
Earlier this month, Penn Entertainment announced that it is acquiring Wynn’s state license to launch ESPN Bet in New York, thereby increasing the competition in the sector.
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